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New Jersey Division of Investment reveals 2021 private real estate pacing plan

The US public pension is currently at the lower end of its private real estate target range.

Institution: New Jersey Division of Investment
Headquarters: Trenton, United States
AUM: $84.64 billion
Allocation to alternatives: 25.96%

New Jersey Division of Investment intends to commit between $1.35 billion and $1.45 billion to private real estate, attendees at its March 2021 state investment council meeting heard. The commitment plan was put forth by its real estate consultant, Hamilton Lane.

The $84.64 US public pension has an 8 percent target allocation to private real estate which currently stands at 5.75 percent.

The pension’s recent private real estate fund commitments have focused primarily on investments in North America and Western Europe.

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