The $70 billion New Jersey Division of Investment had more than $1 billion in proposed hedge fund investments in the works over the past few months, including an add-on allocation to New York-based fund of funds manager Arden Asset Management.
Finding a place in the growing hedge fund programme that is set to expand to total 15% of the overall investment portfolio are Bay Pond Partners Fund, Cevian Capital II, Arden Institutional Advisors Fund, Regiment Capital Fund, BlueCrest Capital, Claren Road Fund and Cadian Fund.
The most recent...