New Jersey Division of Investment, Trenton, today committed $100 million to Merrill Lynch Investment Managers for a private equity buyout fund and $20 million to Avenue Capital Partners for a distressed debt fund. Private equity consultant Strategic Investment Solutions assisted.
Separately, William G. Clark, director of the $70 billion pension system, presented a report that identified four companies that state law requires the system to divest by Aug. 1, 2008 because of its investments in Sudan: ABB Ltd., Ericsson, Royal Dutch/Shell Group and Simmons AG. The total market value for all the shares is about $426 million. The report was done in conjunction with Institutional Shareholder Services.
