Police and Firemen's Retirement System of New Jersey, Trenton, has made $500 million in alternative investment commitments, according to a Dec. 11 news release from the pension fund which had $33.2 billion in assets as of Oct. 31.
Each of the three commitments was approved by the system’s board of trustees on Dec. 9.
The pension system committed $150 million to Brookfield Super-Core Infrastructure Partners Fund, managed by Brookfield Asset Management.
The pension system also made two commitments to funds managed by Ares Management: $200 million to the private credit Ares Capital Europe VI and $150 million to the Ares U.S. Real Estate Fund XI.
“This $500 million commitment to alternative investments represents a key milestone for the Police and Firemen's Retirement System of New Jersey and serves as the foundation for our overall investment strategy,” Greg Petzold, executive director of the pension system, said in the news release.
