The New Jersey Department of the Treasury’s Division of Investment (DOI) hosted its second Emerging Managers Virtual Symposium on Wednesday, engaging over 800 participants globally. The symposium aims to connect with the next generation of investment partners and provide an overview of New Jersey’s Emerging Managers Platform, launched in 2021. This platform seeks to broaden the State's exposure to a diverse range of fund managers while expanding access for skilled investment professionals.
Topics discussed included building differentiated investment strategies, scaling investment management businesses, and navigating the market as emerging managers.
Governor Phil Murphy emphasized the importance of seeking diverse investment opportunities: “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,” he said. “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.”
State Treasurer Elizabeth Maher Muoio highlighted the platform's success: “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,” she said. “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 event featured remarks from Governor Murphy, Treasurer Muoio, DOI Director and Chief Investment Officer Shoaib Khan, and State Investment Council Chair Deepak Raj. Speakers included representatives from funds managing billions in assets.
State Investment Council Chair Deepak Raj noted: "We’ve found that emerging managers are adding to our investment results," he said. "Our objective for this summit was to recognize the importance of this effort, share our experiences, create a dialogue between investment managers, and provide a forum for growth."
Over the past year, DOI launched two investment sleeves in Private Equity and Real Estate within its Emerging Managers platform. Plans are underway for a Private Credit sleeve launch soon.
DOI Director Shoaib Khan remarked on smaller firms' value: “The Emerging Managers Platform is a prime example of how smaller, more nimble investment firms can add value to a well-diversified portfolio,” he said. “We continue to look for and plant seeds that will go on to provide returns for the pension fund for many years.”
Continuing efforts include meeting with various investment firms on July 10, 2024 in New York City.
The program centers on Separately Managed Accounts (SMAs), which source and oversee allocations to emerging managers. DOI collaborates with large asset management firms capable of anchoring first-time funds and scaling them throughout their development. Customized criteria ensure diversity among fund managers who may later establish direct relationships with DOI.
A recording of the event is available online.
