New Jersey Division of Investment approves $275m in commitments

The US public pension has backed Multi-Regional focused funds.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $75.79bn
Allocation to alternatives: 22.56%

The New Jersey Division of Investment board has agreed in closed session to commit up to $125 million to The Rise Fund II and up to $150 million to TSG8, William Skaggs, Public Information Officer, confirmed in an email. The funds are managed by TPG and TSG Consumer Partners.

The $75.79 billion US public pension has an 8.25 percent target allocation to private equity that currently stands at 10.04 percent.

As illustrated in the charts below, the pension has made five commitments to private equity in 2018, which combined constitute of $875 million.

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