New Jersey Division of Investment, Trenton, made $200 million in private equity commitments, according to Tom Vincz, spokesman for state Treasurer Bradley Abelow. The commitments, approved by the State Investment Council on Thursday, are $100 million to Lindsay Goldberg & Bessemer II, a buyout fund, and $50 million each to Lexington Capital Partners VI and Partners Group Secondary 2006.
Separately, Mr. Vincz confirmed that the state's pension funds, which have a combined $74.7 billion in assets, had a total unfunded liability of roughly $18 billion as of June 30, up from about $12 billion a year earlier. He said the data came from recently released annual actuarial reports. "There are a combined number of factors why that number has grown so much," Mr. Vincz said, citing the continuing effect of investment losses earlier this decade, the fact that retirees are living longer and previously approved benefit enhancements.
The pension funds gained 8.7% on their investments for the year ended June 30.
