The New Jersey Pension Fund, Trenton, committed up to $225 million to two managers.
The actions were announced Thursday at a meeting of the State Investment Council, which formulates policies for the state division of investment. The division manages investments for the $77 billion pension fund.
In a report to the council, the division announced a commitment of up to $125 million to Aermont Capital Real Estate Fund IV, the division report said.
"Management of Aermont completed a consensual liftout of their platform from Perella Weinberg Group in July 2015," the report said. "The fund is, therefore, an independent fund."
The fund specializes in opportunistic real estate investments throughout Europe.
The division also committed up to $100 million to Owl Rock Technology Finance, managed by Owl Rock Capital Partners.
The Owl Rock fund will invest in established, high-growth technology companies, the division report said. This company will "originate, structure, and manage debt and equity-related investments in the technology sector," the report said. The division committed $400 million to another Owl Rock fund, Owl Rock Capital Corp., in 2016.