HedgeCo.net – According to a due diligence memorandum presented to the New Jersey State Investment Council by director William Clark, NJ has a proposed $100 million investment in each of two Blackstone funds of funds strategies, Pacific Opportunities Strategy and an Emerging Markets Strategy to handle new hedge fund and private equity allocations.<\/p>\n
The NJ pension system is also aiming at allocating a total of $625 million to two funds of hedge funds and three single-strategy managers, and a total of $325 million to four private equity funds, according to a due diligence memo penned by director William Clark to the system\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s investment council.<\/p>\n
Also in the investment proposal, NJ is looking to make a $150 million commitment to a fund of funds to be managed by Prot\u00c3\u0192\u00c2\u00a9g\u00c3\u0192\u00c2\u00a9 Partners, the New York-based firm currently manages $2.2 billion and invests in smaller, niche funds and also seeds managers. The pension system is also allocating $150 million to Farallon Capital Institutional Partners, a multi-strategy fund, and $50 million to Omega Overseas Partners Ltd Class B, a long\/short equity fund.<\/p>\n
New Jersey\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s proposed direct investments in single-strategy managers include a $75 million commitment to the Ascend Partners Fund II, which is a 1.5x levered version of the firm\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s fundamental equity long\/short strategy.<\/p>\n
In private equity, NJ is making a $100 million commitment to Avenue Special Situations Fund V and a $50 million commitment to KPS Special Situations Fund III. Both funds focus on U.S. stressed and distressed opportunities. Finally, a $100 million commitment is being made to MatlinPatterson Global Opportunities Partners, a global distressed fund, and a $75 million commitment to Thomas H. Lee Equity Partners VI, a growth-oriented buyout fund.<\/p>\n
Alex Akesson HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n Be sure to check out our sister sites. www.hedgefundlounge.com<\/a>, www.hedgefundtools.com,<\/a><\/strong> and www.hedgefundemployment.com.<\/strong><\/a> <\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":" HedgeCo.net – According to a due diligence memorandum presented to the New Jersey State Investment Council by director William Clark, NJ has a proposed $100 million investment in each of two Blackstone funds of funds strategies, Pacific Opportunities Strategy and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5979","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5979"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5979\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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