New Jersey Division of Investment, Trenton, sold a portfolio of private equity real estate funds worth $925 million to a partnership of NorthStar Realty Finance Corp. and Goldman Sachs Asset Management, confirmed William Quinn, a spokesman for the Department of Treasury, which oversees the investment division.
The partnership will pay $925 million in a transaction expected to close within the next month or so, according to an 8-K statement filed Wednesday by NorthStar.
The 8-K statement said NorthStar, several NorthStar affiliates and funds managed by Goldman Sachs Asset Management acquired from the investment division “limited partnership interests in up to 25 real estate private equity funds comprised of a diversified portfolio of assets with an aggregate reported net asset value of approximately $925 million.”
Mr. Quinn declined to provide additional information.
The division, which manages investments for the $75.3 billion New Jersey Pension Fund, announced in January that it was considering a secondary market sale of some real estate holdings.