New Jersey State Investment Council is planning to expand its hedge fund portfolio by making additional investment to long/short equity firm, Ascend Partners, HFMWeek reports. The council has currently invested $70 million in the Ascend Partners Fund II. The council may also boost its investment in Rock Creek, in which it has allocated $50 million. New Jersey is seeking to review its asset allocation targets and may raise the cap on hedge funds to 15% from 7%.
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