Funds of Hedge Funds Institutional Investors

New Jersey to consider niche FOHFs


New Jersey State Investment Council is discussing with its consultant Cliffwater new investments in funds of funds that offer niche strategies that are difficult to implement in a direct programme.

Such strategies would also offer access to smaller firms, newer strategies or distant geographies, according to a recent presentation made to trustees. The $56 billion pension fund's hedge fund portfolio reported a loss of 29% in 2008, minus Canyon Special Opportunities, GoldenTree Credit, AG Credit and BlackRock credit funds that New Jersey has made recent allocations during challenging market conditions.

The $3.2 billion hedge