New Jersey Division of Investment confirms $260m in commitments

The US public pension has re-upped with two existing managers.

Institution: New Jersey Division of Investment
Headquarters: Trenton, US
AUM: $84.64 billion
Allocation to alternatives: 25.96%

The New Jersey Division of Investment agreed to commit up to $260 million across two private equity vehicles at its May 2021 investment council meeting, a contact at the pension confirmed to Private Equity International.

The commitments comprise $100 million to Excellere Capital Fund IV and $160 million to EQT Infrastructure Fund V.

The fund, Excellere Capital Fund IV, managed by Excellere Partners, will target lower-middle-market opportunities with a focus on healthcare, industrial and business services sectors.

As illustrated below, the pension allocates 11.42 percent of its full investment portfolio to private equity. Its recent private equity commitments have focused on investments primarily in North America.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.