JUNE 14, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

New Jersey Division of Investments to sell nearly $1 billion in secondaries

by Sara Kassabian

The $75.6 billion New Jersey Division of Investments (NJDI) has sold its interest in 25 real estate private equity funds valued at $925 million to an entity between joint venture partners NorthStar Realty Finance and NorthStar REIT, and funds managed by Goldman Sachs Asset Management, confirmed Timothy Walsh, director of NJDI.

Walsh will announce which of NJDI’s fund interests were sold at a meeting on July 11.

The firms agreed to pay $510 million to the fund interests in a first close to be held at the end of June or July, and to pay the remaining $415 million in subsequent closings that will be held over a four-year period, according to a

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy