New Jersey Division of Investment, Trenton, which manages investments for the $78.6 billion New Jersey Pension Fund, is seeking to hire “senior alternatives investment professionals” with backgrounds in real estate, private equity, real assets and/or hedge funds, said a posting on the state Department of the Treasury's website.
The division is seeking up to three people for new positions, Christopher Santarelli, a spokesman for the Treasury Department, wrote in an e-mail. “We are building out the alternative investment team given the scope of the current portfolio and activity expected going forward,” Mr. Santarelli wrote. The new employees likely will have the title of portfolio manager, he added.
Real estate, private equity, real assets and hedge funds represented an aggregate 26.6% of the pension fund's allocation as of May 31.
The employees' duties will include developing a plan to meet the long-term target allocations for specific asset classes, presenting investment recommendations to the division and the state investment council, negotiating partnership agreements and managing outside investment consultants, according to the job description posted on the department's website.
Candidates should submit applications — preferably by e-mail — by July 31 to [email protected].