Outstanding Contribution Orin Kramer
Chairman
New Jersey State Investment Council
As chairman of the New Jersey State Investment Council, which oversees the division that manages New Jersey’s $67.3 billion pension fund, Orin Kramer pushed the system to invest in hedge funds and other alternatives. Appointed to the board in 2002 by then-governor James McGreevey, Kramer not only had to battle some incumbent board members, he also had to overcome objections from the longtime consultant and union officials who represented some pension beneficiaries and members of New Jersey’s in-house Division of Investment asset management team.
At the time, New Jersey desperately needed to diversify following dramatic losses in the stock ....