New Jersey DOI commits $250m to emerging managers fund

The US public Pension fund has committed to a new vehicle.

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Name: New Jersey Division of Investment
Headquarters: Trenton, US
AUM: $87.5 billion
Allocation to real estate: 6.0%

The New Jersey Division of Investment has committed $250 million to a fund managed by GCM Grosvenor.

GCM Grosvenor Emerging Manager Separately Managed Account will invest in emerging real estate managers across value-add and opportunistic strategies.

As of March 31, the New Jersey Division of Investment allocates 6 percent of its portfolio toward private real estate.

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