New Jersey Division of Investment has negotiated cuts in fees and expenses with its alternative investments managers. The investment trust seeks to save at least $40 million over the next five years through the fee cuts. The state may realize at least $50 million in secured saving over the next five years after the completion of the negotiations. The division started negotiating with managers of alternative investments at the beginning of the current fiscal year, which started July 1, 2010, adds Pensions & Investments. The division of investment, which is part of the Treasury Department, manages investments for seven pension funds that comprise the $70.84 billion New Jersey Pension Fund, Trenton.

Click here for the release from Department of Treasury.

Click here for additional coverage from Pensions & Investments.