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July 11, 2013 01:00 AM

New Jersey commits more than $550 million to private equity, hedge funds

Robert Steyer
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    New Jersey Division of Investment, Trenton, made four commitments to private equity, hedge funds and real estate investments for the $74.3 billion New Jersey Pension Fund.

    The commitments were announced Thursday by Timothy Walsh, director of the Division of Investment, at a meeting of New Jersey State Investment Council. The division manages investments for the New Jersey pension fund.

    The division made a private equity commitment of up to $100 million to Vista Foundation Fund II. The Vista fund invests in small- to middle-market enterprise software companies, such as those involved in billing systems, and is managed by Vista Equity Partners. The division previously made commitments to three other Vista funds totaling $310 million.

    The division also committed €100 million ($128 million) to CVC Capital Partners Fund VI, which will make buyout investments primarily in Western Europe.

    The division also made a real estate commitment of €140 million to Prologis European Property Fund II. Prologis specializes in owning, operating and developing industrial properties.

    And the division made an additional commitment of $150 million to the hedge fund GSO Credit-A Partners. The division previously committed $250 million to this fund, which is managed by GSO Capital Partners. The fund invests primarily in public and private non-investment-grade corporate credit. GSO Capital Partners is a unit of the Blackstone Group.

    Separately, Mr. Walsh said the division had received a $1.03 billion pension contribution from the state of New Jersey just prior to the close of the fiscal year that ended June 30.

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