The New Jersey Division of Investment (NJDOI) is considering a commitment of up to $400 million to StepStone Real Estate Partners SMA (separately managed account), a vehicle of StepStone group, according to meeting materials from Jan. 29.
StepStone Real Estate Partners SMA will focus on investments that include secondaries opportunities in the United States. A fundraising goal has not been determined.
NJDOI, a public pension fund, has $71.6 billion in total assets under management, with an 8 percent real estate allocation target as of Dec. 31, 2024. As of then, it had $4.1 billion in total real estate assets.
For more information about this fund and others, visit the IREI.Q database.
