New Jersey invests $395 million in European vehicles

The $73.67 billion New Jersey Division Investment (NJDI), the investment arm of New Jersey Department of the Treasury, has committed approximately $395 million to three European real estate funds.

The NJDI invested $96 million into Perella Weinberg Real Estate Fund II, a $1.6 billion opportunistic fund managed by Perella Weinberg. The vehicle will invest in all property types throughout Europe. 

The two other investments are with London-based M&G Investments. NJDI invested $114 million in M&G Real Estate Debt Fund II and $190 million in M&G Real Estate Debt Fund III. Both funds are targeting commitments of $760 million and will invest throughout Western Europe. M&