New Jersey Division of Investment, Trenton, committed $100 million to Real Estate Capital Asia Partners IV, an opportunistic non-core real estate fund managed by SC Capital Partners, said Christopher Santarelli, spokesman for the state Treasury Department, in an e-mail.
The division, which manages investments for the $81.2 billion New Jersey Pension Fund, previously committed up to $80 million and up to an additional $40 million in co-investments to Real Estate Capital Asia Partners III in August 2012.
Separately, Robert Grady, chairman of the New Jersey State Investment Council, which oversees the division, resigned effective at the end of Wednesday’s meeting.
“The robust performance of the Division of Investment over the last four years and the professionalism exhibited by the State Investment Council during Chairman Grady’s tenure are a testament to Bob’s character, dedication and wide range of skills,” sad Andrew Sidamon-Eristoff, New Jersey state treasurer, in a statement.
Efforts to reach Mr. Grady were unsuccessful.