Institutional Investors

New Jersey targets multi-alternative cocktail

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Late last year, the $68 billion New Jersey Division of Investments presented a unique deal with Blackstone where private equity, energy and hedge fund investments will take centre stage. Across four opportunistic accounts there will be a $1.8 billion allocation within private equity, credit, real estate and hedge fund strategies.

Earlier this year, a $100 million allocation was made to Blackstone’s GSO Special Situations Fund (an event-driven credit strategy), but a $250 million allocation has now been proposed to GSO Credit Opportunities as part of the credit hedge fund portfolio. According to an internal memo, a $250 million