The New Jersey Division of Investment built out its private credit portfolio across three investments spanning a syndicated loan portfolio, bank loans and growth debt investments totaling more than $1.5 billion last month.
The $98 billion investment portfolio has a $6.6 billion allocation to private credit -- a subset of real return assets alongside high yield and investment grade credit. The target allocation is 8% of assets.
The State Investment Council is investing $1 billion in a separately managed investment vehicle from Goldman Sachs Asset Management (GSAM) and the fund will invest in broadly . . .
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