New Jersey Division of Investment, Trenton, committed or invested $1.3 billion total to hedge funds, real estate and private equity for the $76.7 billion New Jersey Pension Fund, confirmed spokesman William Quinn, a spokesman for the Department of Treasury, which oversees the investment division.
The division invested $700 million in hedge fund offerings:
- $300 million in Chatham Asset High Yield separate account, managed by Chatham Asset Management;
- $200 million total in two Starboard Value activist funds — $125 in co-investments in Starboard Leaders Fund, and $75 million in Starboard Value and Opportunity Fund;
- $150 million in Iguazu Partners, an emerging markets debt fund; and
- an additional $50 million in Bay Pond Partners, a financial institution specialty sector fund.
The division initially invested $150 million in the Bay Pond Partners fund in January 2012.
At Thursday's meeting, it also committed $200 million to Northwood Real Estate Partners IV, a value-added real estate fund managed by Northwood Investors; and $100 million to Hammes Partners II, a health-care real estate fund, managed by Hammes Co.
The division also committed $300 million to Carlyle Partners VI, a buyout fund managed by Carlyle Group.