Investors

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.

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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.

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