NJ opens search for heads of private equity, private credit

The New Jersey Department of Treasury’s investment division is looking to hire professionals to take the reins of its multi-billion-dollar private equity and private credit portfolios.

The positions opened up after Jared Speicher, head of both private equity and private credit portfolios, stepped down earlier this year to become director of private equity at MetLife Investment Management, according to a report by Markets Group.

The new head of private equity will be charged with overseeing a $12 billion portfolio that includes exposure to both U.S and international buyout funds, GP equity stakes, mezzanine debt, secondaries and venture capital. The head of private credit, meantime, will oversee a diverse, $7 billion portfolio of assets.

Responsibilities for both positions include sourcing and executing on new investments, monitoring the portfolios and supervising a team, according to the recruitment ads. Candidates  should have at least six years of relevant experience, including three in a supervisory role. The salary for both positions ranges up to $208,000.

All told the investment division as of the end of April managed $92.3 billion in pension fund assets on behalf of the state. The deadline to apply for the positions is 5PM on September 2.

We were unable to reach Speicher by press-time for comment.

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