Institutional Investors

New Jersey goes bargain hunting among liquidity-seeking investors


The New Jersey Division of Investment, which has seen its assets dwindle to roughly $64 billion, is not expected to make any new hedge fund investments, but is still on the hunt for some bargains.

Officials have said that they believe there may be "attractive opportunities" to acquire funds with top managers at a significant discount to net asset value by buying existing hedge fund stakes from investors desiring immediate liquidity.

The state pension fund's hedge fund investments have drawn controversy over the last few months as legislators questioned a