NJDOI approves up to $100m commitment and boosts allocation by 1.75pp

The US public pension has backed a private equity fund, in line with new policy to increase investment in the asset class.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
Total AUM: $79.51bn
Allocation to Alternatives: 23.56%
Bitesize: $100-200m

NJDOI has agreed to commit up to $100 million to Warburg Pincus China-Southeast Asia II, a private equity fund focusing on Chinese and Southeast Asian investments, according to a representative within the organization.

Additionally, the public pension has increased target allocation to private equity by 1.75 percentage points, from 10.25 percent to 12.00 percent.

The $79.51 billion public pension currently allocates 23.56 percent of its funds to alternatives.

As illustrated in the charts below, this private equity fund commitment is the first to be made in the fiscal year 2019.

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