Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Retirement Income Conference
    • 2022 Managing Pension Risk & Liabilities
    • 2022 WorldPensionSummit
Breadcrumb
  1. Home
  2. SEARCHES AND HIRES
May 27, 2015 01:00 AM

New Jersey commits nearly $1.2 billion, redeems 2 hedge funds

Robert Steyer
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    The New Jersey Division of Investment committed up to $1.175 billion for the $79.2 billion New Jersey Pension Fund, Trenton, said Christopher Santarelli, a spokesman for the state Treasury Department.

    The division will make up to $900 million in commitments to existing separate accounts and two new commingled funds managed by Och-Ziff Capital Management Group, showed documents submitted Wednesday by the division at a meeting of the State Investment Council, which formulates policies governing pension fund investments.

    The transactions include additional commitments of $300 million to OZSC II; $200 million to OZNJ Private Opportunities; $100 million to OZNJ Real Estate Opportunities; and $100 million to OZNJ Real Asset Opportunities. The division made commitments between 2010 and 2012 of up to an aggregate of $1.1 billion to the four funds, which invest “in U.S. and European structured and corporate public debt securities, as well as private debt, real estate and real asset opportunities,” the document said.

    Also, the division reported Wednesday it will make commitments to a pair of new commingled funds — $100 million to OZ Energy Partners and $100 million to Och-Ziff Real Estate Credit Fund.

    OZ Energy Partners will focus on “opportunistic middle-market energy investment in North America,” such as oil and natural gas industries. The other fund will concentrate on North America real estate credit investments, primarily in the U.S.

    The division also announced a $150 million private equity commitment to RRJ Capital Master Fund III, which “will invest globally, with an emphasis in China and Southeast Asia,” according to agenda materials.

    Also, the New Jersey Pension Fund committed up to $125 million to TPG Real Estate Partners II, which focuses on investments “through corporate carve-outs or spinoffs, public-to-private transactions, private placements and controlling stakes in private operators.” As a result, the division plans to reduce its commitment to TPG/NJ RE Partnership, a real estate separate account, by the same amount, a division document said. The division originally committed $350 million to TPG/NJ in February 2013.

    Separately, the division said it is seeking to redeem its full interest in BlueCrest Capital International Ltd., managed by BlueCrest Capital Management for June 30, because it “underperformed expectations.”

    The net asset value was about $284 million as of March 31 for the discretionary global macro strategy hedge fund. The division made commitments totaling $300 million in 2012 and 2014. A representative for BlueCrest could not be reached for comment.

    The division also is seeking to redeem its full $148.6 million interest in Regiment Capital Fund for July 1. The division made a $150 million commitment in December 2011.

    Related Articles
    New Jersey slates nearly $2 billion in commitments, including $1 billion to Bla…
    New Jersey committee recommends freezing state pension fund, creating cash bala…
    New Jersey chooses 12 managers for emerging markets, international small-cap eq…
    New Jersey commits $250 million to 2 managers, will review pay-for-play rules
    New Jersey hires TorreyCove as primary private equity consultant
    Philadelphia Board of Pensions to redeem 2 credit-focused hedge funds
    New Jersey slates $1 billion for private equity, hedge funds
    China, Southeast Asia-focused RRJ Capital III closes at $4.5 billion
    BlueCrest to return client capital, change to private partnership
    Recommended for You
    lockheed_martin_nyse_1550-main_i.jpg
    Lockheed Martin offloads another $4.3 billion in pension liabilities
    Abortion rights demonstrators gather outside the US Supreme Court after a deeply divided Supreme Court overturned the 1973 Roe v. Wade decision and wiped out the constitutional right to abortion.
    Asset managers say they'll pay for travel after Supreme Court abortion ruling
    washington_capitol_flag_1550-main_i.jpg
    New Thrift Savings Plan website faces criticism
    Strong Demand Drivers Underpin Private Credit
    Sponsored Content: Strong Demand Drivers Underpin Private Credit

    Reader Poll

    June 6, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Nearing the finish line: Ideas on end-state investing for corporate DB plans
    The Meaning of "Portfolio Intelligence"
    Credit Indices: Closing the Fixed Income Evolutionary Gap
    Forever in Style: Benchmarking with the Morningstar® Broad Style Indexes℠
    Crossroads: Politics, Inflation, & Bonds
    Is there a mid-cap gap in your DC plan?
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    June 20, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Retirement Income Conference
      • 2022 Managing Pension Risk & Liabilities
      • 2022 WorldPensionSummit