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NJSIC nears sale of stake in JLL Partners V

In a meeting last week the pension fund discussed the possibility of selling its stake on the secondaries market.

The New Jersey State Investment Council is one step closer to selling its stake in JLL Partners’ fifth fund, which is exposed to a payday lender, according to a spokesman for the pension fund.

Secondaries Investorreports that JLL Partners V is invested in ACE Cash Express, a payday lender, which created controversy earlier this year when several advocacy groups expressed concerns regarding New Jersey’s exposure to a business that charges high interest rates for loans made to Americans.

Visit www.secondariesinvestor.com to read the full story.