New Jersey pension funds split, create a $26 bln LP


New Jersey’s Police and Firemen’s Retirement System, Phil Murphy, private equity, venture capital, pension fund, New Jersey State Investment Council
The New Jersey State Capitol Building in Trenton. benkrut/iStock/Getty Images
New Jersey’s Police and Firemen’s Retirement System
  • Assets under management: $26 billion
  • Why this is important: Private equity portfolio formation will depend on Gov. Murphy’s plans for this asset class
New Jersey’s Police and Firemen’s Retirement System is set to become a $26 billion institutional investor after Gov. Phil Murphy signed a bill handing the pension fund over to its union to manage. The new 12-member New Jersey PFRS board will assume charge ...

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