New Jersey Division of Investment approves $150m commitment

The US public pension has backed a North America focused fund.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $74.05 billion
Allocation to alternatives: 27.8%

New Jersey Division of Investment agreed to commit up to $150 million to Owl Rock Diversified Lending 2020 fund at its July 2020 investment council meeting, a contact informed Private Equity International. Along with the commitment, the pension acquired a partial equity ownership stake in Owl Rock Capital Diversified Holdings LLC.

The $74.05 billion US public pension currently allocates 11.91 percent of its investment portfolio to private equity. Alternative investments constitute 27.8 percent of the institution’s entire portfolio.

As illustrated below, the pension’s recent private equity commitments have focused primarily on buyout strategies in multiple regions.

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