Blackstone May Get Up to $1.8 Billion From New Jersey Pension

December 09, 2011, 11:09 AM EST By Elise Young and Devin Banerjee

Dec. 8 (Bloomberg) -- Blackstone Group LP, the world’s largest private-equity firm, may receive as much as $1.8 billion in commitments from the New Jersey Division of Investment.

The state pension system proposes investing $1.5 billion in four separate accounts to be managed by Blackstone and $300 million in three traditional funds, according to documents prepared for a public meeting today.

--Editors: Josh Friedman, Christian Baumgaertel

To contact the reporters on this story: Elise Young in Trenton at eyoung30@bloomberg.net; Devin Banerjee in New York at dbanerjee2@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net -0- Dec/08/2011 17:22 GMT

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