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.
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Source: Wall Street Journal
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