The New Jersey Division of Investment, Trenton, made $600 million in private equity and real estate fund commitments for the $76.5 billion New Jersey Pension Fund, said Christopher Santarelli, spokesman for the state Treasury Department.
According to documents presented to members of the State Investment Council on Wednesday, a private equity commitment of up to $200 million was made to Vista Equity Partners Fund V, which focuses on investments in the enterprise software industry. The division made previous commitments totaling $375 million to three other Vista funds.
The division also made a $200 million commitment to Onex Partners IV, a middle-market buyout fund focusing primarily on the U.S. and Canada. It previously made commitments totaling $200 million to two other Onex Partners funds, Mr. Santarelli wrote in an e-mail.
The division also committed up to $100 million to HitecVision VII; HitecVision is a Norwegian private equity firm specializing in international oil and gas industry investments.
A $100 million commitment was also made to Och-Ziff Real Estate Fund III, which pursues “opportunistic real estate investments,” according to the division.
Mr. Santarelli said this “is a new strategy on their end, and is our first investment with Och-Ziff in a dedicated real estate fund.” According to the division's annual report, the division made previous commitments totaling $1.38 billion to other Och-Ziff funds between 2010 and 2013 that invest in U.S. structured credit, European corporate and structured credit and private credit.
The division also announced on Wednesday that it completed the sale of a portfolio of 25 real estate limited partnership interests for $925 million. The sale closed Feb. 28. The division announced in 2013 that it planned to sell the investments to a partnership of NorthStar Realty Finance and a fund managed by Goldman Sachs Asset Management.
