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New Jersey’s Second Emerging Managers Virtual Symposium Connects the Next Generation of Investment Partners
Treasury’s Division of Investment Promotes Exciting Emerging Managers Platform

TRENTON - Building on New Jersey’s leadership in engaging up-and-coming fund managers, the Department of the Treasury’s Division of Investment (DOI) hosted its second Emerging Managers Virtual Symposium on Wednesday, connecting with over 800 people from across the globe.  The goal of the symposium is to connect with the next generation of investment partners. The event also provided an overview of New Jersey’s Emerging Managers Platform, which was unveiled in 2021 with the goal of enhancing the State’s exposure to a broader range of fund managers while simultaneously expanding access for highly-skilled investment professionals.

Topics ranged from building a differentiated investment strategy, to scaling an investment management business, to navigating the market as an emerging manager.

“As the administrator of one of the largest public pension funds in the nation, our State has both an opportunity and an obligation to seek out diverse investment opportunities,” said Governor Phil Murphy. “I’m thrilled we were able to bring together an impressive group of industry partners from across New Jersey and around the globe to discuss how we can continue investing in the next generation.”

“Through its robust Emerging Managers Platform, Treasury’s Division of Investment has successfully expanded New Jersey’s exposure to a broader range of fund managers, many of whom are minority and women-owned firms,” said State Treasurer Elizabeth Maher Muoio. “We’re excited to continue raising awareness for the remarkable opportunities available to up-and-coming managers through this platform, and continuing to diversify the private markets portfolio of the State’s pension fund.”

The agenda included remarks from Governor Murphy, Treasurer Muoio, DOI Director and Chief Investment Officer Shoaib Khan, and State Investment Council Chair Deepak Raj, as well as speakers and panelists from funds and organizations representing billions of dollars in assets under management.

"We’ve found that emerging managers are adding to our investment results," said State Investment Council Chair Deepak Raj. “Our objective for this summit was to recognize the importance of this effort, to share our experiences, to create a dialogue between investment managers, and to provide a forum for growth of this important initiative and all our organizations.”

Over the past year, the Division of Investment successfully launched two investment sleeves in Private Equity and Real Estate within the Emerging Managers platform. The Division is now planning to launch a Private Credit sleeve in the near future, as well as exploring other opportunities to further expand the platform.

“The Emerging Managers Platform is a prime example of how smaller, more nimble investment firms can add value to a well-diversified portfolio. We’ve seen that potential value firsthand through the launch of our first two investment sleeves,” said DOI Director and CIO Shoaib Khan. “We continue to look for and plant the seeds that will go on to provide returns for the pension fund for many years to come.”

Continuing with its effort to source and expand access to emerging managers, the Division’s investment team along with its program partners will be meeting in-person with a number of investment firms on July 10, 2024 in New York City.

The Emerging Managers program is centered on a platform of Separately Managed Accounts (SMAs) that will source, conduct due diligence on, invest in, and oversee allocations to emerging managers. DOI invests with large, well-established asset management firms with adequate resources and expertise to anchor first-time funds and scale with the underlying funds throughout their development. DOI establishes specific customized criteria for each SMA in order to ensure a diverse pool of fund managers. The SMAs then help in identifying successful emerging fund managers who fit into the broader DOI portfolio and can “graduate” into direct relationships with the Division.

A recording of the event is available here.