New Jersey embraces new credit SMA concept
The $76 billion New Jersey Division of Investment portfolio has expanded into private credit via a new $1 billion mandate established with PGIM at its most recent council meeting.
This is in addition to new investments within private equity and real estate totaling $500 million.
The New Jersey pension fund is proposing a setting up of $1 billion in a separately managed investment vehicle to be managed by PGIM Fixed Income. The aim of the strategy is to yield 450 basis points more than its current cash/treasury allocation, but the fund will be invested . . .
Continue Reading
Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Monthly and annual subs available. Research articles require an Annual sub.
