New Jersey Division of Investment is set to benefit from the
liquidation of another large state plan's hedge fund holdings,
while increasing its own allocation to the asset class.
Recently the $49 billion Massachusetts PRIM Board announced it
would unwind its hedge fund holdings, finishing its
relationship with Arden Asset Management, Grosvenor Capital
Management, Rock Creek Group and K2 Advisors.
With Arden Asset Management appointed to manage the
liquidation, the New Jersey pension fund is able to pick the
holdings it would like to have. Director Timothy Walsh