The New Jersey Division of Investment, which manages investment for the New Jersey Pension Fund, Trenton, made two commitments totaling up to $250 million, the division reported Wednesday.
As of Nov. 13, the pension fund had estimated assets of $80.2 billion.
The division made a commitment of up to $150 million to IPI Data Center Partners Fund II, managed by IPI Data Center Partners Management. IPI is owned by Iron Point Partners, a firm that invests in data centers, and ICONIQ Capital, which "brings expertise investing in technology companies," according to a division document describing the commitment.
This transaction is a "pure real estate play on the technology sector," said the report, which was issued Wednesday at a virtual meeting of the State Investment Council, which formulates policies for the division.
The division also announced a commitment for up to $100 million in a separate account to be managed by Nephila Capital. The separate account will combine investments "in catastrophe bonds with other insurance-linked securities," the division report said. "Nephila provides institutional investors with access to diversified exposures in the insurance, reinsurance and climate markets."