Institutional Investors

New Jersey considers further boosting brands


New Jersey Division of Investment may add two new hedge fund allocations and add ons to existing managers as trustees continue to build up the portfolio to meet its long-term target allocation of 15%.

Allocations to Third Point Partners and to Reservoir Strategic Partners Fund are being considered, as are add-on allocations to Pershing Square and to Och-Ziff Structured Credit separate account.

Earlier this year, the $71 billion pension fund announced that it had negotiated fee savings of $40 million across its alternative investment portfolio over the next five years. The hedge fund target allocation was increased last