New Jersey Division of Investment

Overview

The New Jersey Division of Investment is a state agency responsible for managing the investment portfolio of New Jersey's public pension funds. Under the supervision of the State Investment Council, it is one of the largest U.S. pension fund managers, directly managing assets for seven public pension systems, including the Consolidated Police & Firemen’s Pension Fund, the Judicial Retirement System, and the Teachers’ Pension & Annuity Fund. As of June 30, 2025, the Pension Fund supports the retirement plans of over 837,000 members, with a net asset value of approximately $76.5 billion. The Division also manages other funds, such as the State of New Jersey Cash Management Fund, the Supplemental Annuity Collective Trust, and portions of the NJBEST Fund and the New Jersey State Employees Deferred Compensation Plan. The Division's investment strategy encompasses a diverse range of asset classes, including fixed income, equities, private equity, real estate, infrastructure, hedge funds, commodities, and venture capital. It focuses on various investment stages, such as growth, buyout, and distressed situations, primarily within the United States. The Division's portfolio spans multiple industries, including financial services, real estate, infrastructure, energy, healthcare, technology, consumer goods, telecommunications, utilities, materials, industrials, consumer services, basic materials, and consumer non-durables. The Division's investment philosophy emphasizes prudent management of public funds to ensure the financial security of New Jersey's public employees and retirees. It aims to achieve optimal returns while managing risk, adhering to the principles of fiduciary responsibility and transparency. The Division's commitment to these principles is reflected in its comprehensive annual reports and regular updates on investment performance, which are accessible to the public through its official website.