New Jersey hires Hamilton Lane as new real estate consultant

The $77.5 billion New Jersey Division of Investment has hired Hamilton Lane as its new real estate consultant, according to the division’s website.

The original proposal for the job was made by Real Asset Portfolio Management, which Hamilton Lane acquired last year.

The RFP for a new real estate consultant was issued in April 2017. A notice of intent to award a new real estate consultant was posted to the division’s website; however, the protest period ended and no protests were submitted. The contract with Hamilton Lane becomes effective Feb. 1, 2018, and is valid for five years.

RVK was the pension fund’s previous real estate consultant.

New jersey Division has a target allocation to real estate of 6 percent.