New Jersey Increases Hedge Fund Investment

``The New Jersey Division of Investment invested an additional $40 million in a Centerbridge Partners distressed credit hedge fund. Centerbridge, an alternative asset manager that also runs private equity funds, accepted an initial $100 million investment from the New Jersey pension fund in November 2007. Since then, the investment has returned 47% for the pension as one of its best performing hedge funds, according to Director Tim Walsh’s memo dated Jan. 5. ''