New Jersey Division of Investment, Trenton, disclosed a total of €300 million ($292 million) in commitments to ICG Europe Fund VIII, a middle-market private debt fund managed by Intermediate Capital Group, and its associated co-investment fund.
The division, which oversees the investment management of the $86 billion New Jersey Pension Fund, disclosed the commitments completed on July 19 and Oct. 5, respectively, in materials for Wednesday's New Jersey State Investment Council meeting.
The division had committed €200 million and €100 million, respectively, to ICG Europe Fund VIII and ICG Europe Fund Co-Investment, according to the materials.
There is no record of the division making any prior commitments to Intermediate Capital Group. The materials show the ICG commitments were allocated to its private equity asset class.
As of June 30, the actual allocation to private equity was 12.8%; the target is 13%.
