New Jersey Division of Investment

About New Jersey Division of Investment

New Jersey Division of Investment's investment portfolio is valued at $69.27 billion as of August 31, 2024, with investments in equities, fixed income, private equity, real estate, hedge funds, private debt, infrastructure, real assets, natural resources, cash, and other alternative asset classes. As of August 31, 2024, the fund's composite return for 1 year, 3 years, 5 years, and 10 years, was 13.47%, 4.03%, 8.46%, and 7.17%, compared to the benchmark return of 13.49%, 5.13%, 9.32%, and 7.67% respectively. As of August 31, 2024, the private equity portfolio was valued at $7.63 billion, representing 11% of the total portfolio. This is an increase compared to March 31, 2024, when the private equity portfolio was valued at $10.87 billion. The private equity portfolio is currently underweight compared to the target allocation of 13.0%. Investments in private equity include buyouts, diversified private equity, private debt, private equity growth expansion, co-investment, secondaries, mezzanine, and venture capital strategies, diversified across the world. As of June 30, 2023, the fund's private equity returns for 1 year, 3 years, and 5 years were 2.48%, 4.46%, and 11.31%, compared to the benchmark return of 6.87%, 8.9%, and 14.47%, respectively. As of August 31, 2024, the real asset portfolio was valued at $3.99 billion. The plan's investment is governed by the executive management team, with Mr. Shoaib Khan serving as Director & Chief Investment Officer.