Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $84.64 billion
Allocation to private debt: 6.87%
The New Jersey Division of Investment agreed to commit up to €450 million across three private debt vehicles at its May 2021 investment council meeting, a contact at the pension informed Private Debt Investor.
The commitments include €150 million to CVC Credit Partners EU DL II Co-Invest Fund, which focuses on senior secured loans to European mid-market companies.
The pension also committed €300 million to fund manager Intermediate Capital Group with €200 million allocated to ICG Europe Fund VIII and €100 million to a co-investment vehicle. These will target upper mid-market opportunities across Europe with opportunities to invest in both debt and equity tranches.
As illustrated below, the pension’s recent private debt commitments have focused on the corporate sector in North America. The pension currently allocates 6.87 percent of its investment portfolio to private debt.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.