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New Jersey Pension Funds Gain 15% in Fiscal Year on Stock Rise
2011-03-24 14:30:15.190 GMT


By Stacie Servetah
March 24 (Bloomberg) -- New Jersey's pension funds have
gained 15 percent this fiscal year as stocks rose, according to
a report presented today to the State Investment Council.
Assets as of Feb. 28 were $72.6 billion, a $1.8 billion
increase since Dec. 31, according to a memo to the council from
Timothy Walsh, director of the state Treasury Department's
investment division. The state's fiscal year began July 1.
Domestic equities were the best-performing segment,
returning 32.3 percent from June 30 to Feb. 28, compared with
31.2 percent for the Standard & Poor's 1500 Index, according to
the memo.
As of Feb. 28, about $35 billion, or 48 percent, of the
fund's assets were in public equity. The funds had about $10.8
billion, or 15 percent, in alternative investments, which
include private equity, real estate and hedge funds. The
division has proposed raising the maximum share of holdings that
can be placed in alternatives to 38 percent from 28 percent to
help boost returns.
Walsh's group manages investments for seven pension funds
that provide benefits to about 800,000 working and retired
teachers, police officers and government employees.
In private equity, it seeks to put $100 million in
Centerbridge Capital Partners II, which invests in financially
distressed companies, and $100 million in mezzanine fund
Newstone Capital Partners II. In hedge funds, the division plans
to invest $100 million in Daniel Loeb's Third Point Partners and
$200 million in Reservoir Strategic Partners Fund.
It also wants to double its $100 million investment in
William Ackman's Pershing Square and add $200 million to its
$300 million commitment to Daniel Och's Och-Ziff Structured
Credit.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.

On May 10, 2011, at 6:54 PM, Hunter Biden wrote:

What state municipal funds just allocated money to them.

R. Hunter Biden
Rosemont Seneca Partners
202-333-1880

On May 10, 2011, at 6:51 PM, Eric Schwerin <eschwerin@rosemontseneca.com> wrote:

> So the story is that Credit Suisse (who I believe is PA's consultant) went in to do due diligence, but the team that did the due diligence left CS. They have not been able to get follow up from the new team and would like them to come in and do another round as they think they got lost in the transition from one team to another.
>
>
>
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> eschwerin@rosemontseneca.com
> P Consider the environment before printing this email.
>