The US State of New Jersey is set to topple Yale Endowment as the largest investor in hedge funds.

The $11bn Yale Endowment currently holds the crown with $3.3bn, but Jersey has detailed plans to allocate $3.5bn as part of a plan to put a maximum $9.1bn into alternative investments over the next five to seven years.

New Jersey threatens to snatch Yale's hedge fund crown

William Hutchings

General Dynamics

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Find out who is on the move in the City and beyond this week

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The UK lender has given the leading compliance job to a 20-year veteran

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The UK lender has tapped a veteran dealmaker to head up a key area of growth

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The European Union has a plan to counteract the swathe of tariffs U.S. President Trump is planning to impose on foreign goods, European Commission President Ursula von der Leyen said.

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The BlackRock CEO says he wants individuals to have better access to the menu of private and illiquid investments that have long been core holdings of pensions, endowments and other institutions.

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The prospect of a radical escalation in the global trade war in the coming days has nearly doubled the probability of a recession in the U.S. economy in the next 12 months to around 35%, according to Goldman Sachs.

Goldman Sachs Lifts U.S. Recession Probability to 35%

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