NJ DOI Commits $1B to Alts
Written by: Jane Bailey, Marketing Associate
The New Jersey Division of Investments has approved three commitments totalling $1.64 billion to real assets, private credit, and real estate.
$500 million was allocated to NJ – StepStone Real Assets SMA.
In private credit, $414 million was allocated to Blackstone Tactical Opportunities Fund A.
In real estate, $150 million was allocated to KSL Capital Partners Tactical Opportunities Fund II.
As of December 31, 2023, the $95 billion Investment Fund allocates 2.3% to real assets with a target of 3%.
Additionally, the Investment Fund currently allocates 7.06% to private credit with a target of 8%.
Lastly, NJ DOI currently allocates 5.57% to real estate with a target allocation of 8%.
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