Searches and Hires

New Jersey taps Hamilton Lane as new real estate consultant

The New Jersey Division of Investment hired Hamilton Lane as real estate consultant for the New Jersey Pension Fund, Trenton, according to a posting on the division's website.

The original proposal for the job was made by Real Asset Portfolio Management, which was acquired by Hamilton Lane last year.

The division of investment, part of the state's Department of Treasury, manages investments for the pension fund.

As of Oct. 31, the real estate portfolio had $4.58 billion in assets, or about 6% of the $76.3 billion total pension fund assets at that time.

An RFP was issued in April. The contract is for five years, and may be extended for a pair of one-year terms by mutual consent of the firm and the division of investment.

RVK was the previous real estate consultant. Additional information was not available. Christopher McDonough, director of the division of investment, didn't return an email.