New Jersey Division of Investment approves $150m commitment

The US public pension backs a direct lending vehicle.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $74.05 billion
Allocation to alternatives: 27.80%

New Jersey Division of Investment agreed to commit up to $150 million to Owl Rock Diversified Lending 2020 fund at its July 2020 investment council meeting, a contact informed Private Debt Investor. Along with the commitment, the pension acquired a partial equity ownership stake in Owl Rock Capital Diversified Holdings.

The $74.05 billion US public pension currently allocates 7.30 percent of its investment portfolio to private debt. Alternative investments constitute 27.80 percent of the institution’s entire portfolio.

As illustrated below, the pension’s recent private debt commitments have focused on the corporate sector in North America.

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