New Jersey Division of Investment confirms $100m commitment

The US public pension has backed an infrastructure fund focused on renewable energy assets.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $74.05 billion
Allocation to alternatives: 27.8%

The New Jersey Division of Investment agreed to commit up to $100 million to Stonepeak Global Renewables Fund at its July 2020 investment council meeting, a contact informed Infrastructure Investor. The pension recently decided to increase its investments to diversified infrastructure funds, including in the renewable energy sector.

The $74.05 billion US public pension has a 3 percent target allocation to private real assets that currently stands at 2.16 percent.

As illustrated below, the pension’s most recent private infrastructure commitments have focused on the energy sector in North America.

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