New Jersey Division of Investment, Trenton, is exploring the possibility of a secondary sale of positions it holds in about 20 real estate funds, totaling about $1 billion, confirmed spokesman William Quinn.
The division, which oversees the state's $71 billion in pension assets, had a target allocation of 5.5% and an actual allocation to real estate of 4.81% as of Oct. 31.
Mr. Quinn wrote in an e-mail that the division is not disclosing individual names of funds until after the possible transaction.
