Creativity not compromise is at the heart of New Jersey’s hedge fund mix

Wed Dec 5, 2012

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The Garden State has shaken an elaborate hedge fund cocktail

By Ann C. Logue

  Tim Walsh
The investment policy for the State of New Jersey Division of Investment is quite simple, says its director, Tim Walsh. It is to achieve the best possible return at an acceptable level of risk while using the highest fiduciary standards. Unlike most public pensions, the bulk of New Jersey’s money is managed in-house, which encourages creativity. "When it comes to alternative investments, we’re trying to do big ticket investments with innovative structures," says Walsh.

The Division of Investment, which is based in Trenton, manages $71 billion in pension assets. The money provides retirement benefits to most state and municipal workers in New Jersey. The pension fund has six components: Teachers’ Pension & Annuity Fund, Public Employees’ Retirement System, Police & Firemen’s Retirement System, State Police Retirement System, Judicial Retirement System, Consolidated Police & Firemen’s Pension Fund, and the...

ISSN: 2151-1845 / CDC10004H

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