Institutional Investors

New Jersey to more than double target HF allocation


The New Jersey State Investment Council is expected to approve plans at its monthly meeting to boost the hedge fund allocation to 15% from 7% of the state’s $68 billion pension fund.

The move is significant for a pension fund that only started allocating to hedge funds in 2006. Earlier in the year, the State Investment Council boosted the percentage allocated to hedge funds to 7% from 6.5% due to anticipated funding of new global macro strategies. The actual hedge fund portfolio currently totals roughly $3 billion or 4.3%.

This month’s meeting of trustees is also significant as