Institution: New Jersey Division of Investment
Headquarters: Trenton, US
AUM: $84.64 billion
Allocation to alternatives: 25.96%
The New Jersey Division of Investment agreed to commit up to $200 million across two private infrastructure vehicles at its March 2021 investment council meeting, a contact at the pension informed Infrastructure Investor.
The commitments comprised $125 million to Stonepeak Infrastructure Fund IV and $75 million to Stonepeak Infrastructure Fund IV – Co-Investment Partners, both managed by Stonepeak Infrastructure Partners.
The $84.64 billion US public pension also plans to commit $500 million to real assets during 2021.
As illustrated below, the pension’s most recent private infrastructure commitments have been to funds targeting the telecoms and energy sectors with a global focus. The pension currently allocates 2.1 percent of its investment portfolio to real assets, which includes infrastructure.
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