New Jersey Division of Investment approves $125m commitment

The US public pension has backed an industrials and manufacturing focused buyout fund.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $75.08bn
Allocation to alternatives: 28.78%

The New Jersey Division of Investment has agreed to commit $125 million to Stellex Capital Partners II at its recently held investment council meeting, according to sister publication Buyouts Insider.

The $75.08 billion US public pension has a 12.0 percent target allocation to private equity which currently stands at 12.34 percent.

As illustrated below, the pension’s most recent private equity commitments have been made to buyout funds.

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