Institutional Investors

New Jersey taps more credit, macro and commodities


The New Jersey Division of Investment continues to bolster its hedge fund holdings recently allocating $785 million among six managers, some of which received allocations previously.

Brevan Howard, Asian Century Quest Fund, Centerbridge, Elliott Associates, ValueAct Capital Partners and Winton Capital are the latest funds brought into the fold within the state’s $67 billion portfolio.

Investment consultant Cliffwater assisted staffers at the pension fund in selecting the managers and strategies. With respect to the hedge fund allocation, the plan is seeking a lack of correlation to the market and there has been a proposed allocation increase to hedge