New Jersey’s state pension manager plans to begin reinvesting gains from a $1.7bn separately managed account run by BlackRock Inc. as a way to increase exposure to private equity, according to documents prepared for a public meeting on Wednesday.
The state’s Division of Investment had been restricted to reinvesting the principal held by the fund as well as a second such fund and wasn’t permitted to reinvest the gains. In the documents for the meeting of the New Jersey State Investment Council, which oversees $94.44bn.
Free Webinar: Digitization in Private Equity: The Paradigm Shift to Increased Returns
- How private equity firms can digitise their portfolio companies
- Development and implemention of effective tech strategy roadmaps
- What the future holds for those who do digitize their portfolios, and where those who don’t will end
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, they help millions of people build savings that serve them throughout their lives by making investing easier and more affordable.
Source: Wall Street Journal
Can’t stop reading? Read more
KKR-backed Optiv enters private debt talks as $1bn maturity wall looms
KKR-backed Optiv enters private debt talks as $1bn maturity wall looms KKR-owned cybersecurity...
Permira set for $3bn Golden Goose exit as HongShan circles Italian luxury brand
Permira set for $3bn Golden Goose exit as HongShan circles Italian luxury brand Permira is in...
CPE to invest $350m in Burger King China joint venture with Restaurant Brands International
CPE to invest $350m in Burger King China joint venture with Restaurant Brands International...