The $81.5 bn New Jersey Division of Investment is committing $1.4 bn to alternative asset management firms including private equity, hedge and commodity funds.

According to sources they are committing money to the following funds: $100 million to GSO Capital Opportunities Fund, $150 million to JLL Partners Fund VI, $400 million to TPG VI, $100 million to TPG Financial Partners and $100 million to HIG Bayside Debt & LBO Fund II.

As part of the fiscal year 2008 investment plan, New Jerseyâ??s investment council authorized a target allocation of 4%, or roughly $3 billion, dedicated to commodities and other real assets.