TRENTON, NJ–The main rationale for real estate in any pension portfolio is diversification, and that may include real estate outside New Jersey and even overseas, says Kevin B. Higgins, the new head of real estate investing for the New Jersey Department of the Treasury, in an exclusive interview with GlobeSt.com.
“You want assets that are not correlated with fixed income and equities," says Higgins. "You identify appropriate opportunities along the spectrum for real estate.”
Higgins, a lifelong New Jersey resident, is responsible for real estate investments for New Jersey public pension funds. He joined the state treasurer's Division of Investment in March.
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