The New Jersey Division of Investment, which handles investments for the $85.8 billion New Jersey Pension Fund, has rehired Cliffwater as a hedge fund investment consultant, confirmed Jennifer Sciortino, a spokeswoman for the state Department of Treasury.
The division also has hired Aksia TorreyCove Partners as a private credit investment consultant. Aksia is the division's first private credit consultant.
Both contracts took effect March 11 and run for three years, Ms. Sciortino said in an email.
Both consultants were hired following RFPs. The hedge fund RFP was issued because the previous contract was expiring, and the private credit RFP was issued to select the first private credit consultant, Ms. Sciortino said.
As of Feb. 28, the New Jersey Pension Fund's hedge fund allocation was $2.5 billion and the private credit allocation was $5.96 billion.
The contracts were announced March 24 at a meeting of the State Investment Council, which formulates policies for the division of investment.