The New Jersey State Investment Council, Trenton, committed $300 million to real estate, $150 million to hedge funds and $50 million to private equity, confirmed Tom Vincz, state treasury department spokesman. The council, which oversees the $72 billion division, approved the investments at its Sept. 21 meeting.
The division invested $300 million in the Prudential Property Investment Separate Account, an open-end commingled fund that invests in commercial real estate.
In hedge funds, the council agreed to commit $100 million to OZ Domestic Partners II, a multistrategy fund managed by Och-Ziff Capital Management; $85 million to Archipelago Partners, an equity long-short fund managed by Wellington Management; and $65 million to the AG Super Fund, a multistrategy fund managed by Angelo Gordon. Cliffwater assisted.
In private equity, the council committed $50 million to Audax Mezzanine Fund II. Strategic Investment Solutions assisted.
Separately, the council discussed its $23.5 million commitment to Amaranth Advisors. It has not taken any action because the fund and Amaranth are in discussions about how much of the fund's investment was lost, Mr. Vincz said.