The New Jersey Division of Investment has committed $525 million to real estate vehicles.
The Townsend Group’s Townsend NJ Real Estate, a separately managed account, received $400 million for its value-added/opportunistic strategy that invests in noncore private real estate. It aims to raise $2 billion.
U.S. Industrial Club VII, a closed-end program of Hillwood, received $125 million for its value-added strategy that invests in mid-market properties in the United States. It has a fundraising goal of $1.5 billion. U.S. Industrial Club VI, its predecessor, raised $840 million in 2023.
New Jersey DOI, a public pension fund, had $80.3 billion in assets under management, as of March 31. As of then, it had an 8 percent real estate allocation target with $4.6 billion in total real estate assets.
