New Jersey PE head to leave for “new opportunity”

Robin Clifford has worked on the investment staff of the New Jersey Division of Investment for 12 years.

Robin Clifford, the head of private equity at New Jersey Division of Investment, is leaving her post, the division’s director and chief investment officer said Wednesday.

Corey Amon said Clifford was retiring from the division to “pursue a new opportunity.”

“Frankly, she’s done a great job for the fund’s beneficiaries,” Amon said at a meeting of the state investment council, conducted via teleconference due to the coronavirus crisis. “Robin’s retirement is a big loss for the division of investment and she will be missed.”

Clifford has been with the division for 15 years, 12 of which she spent on the investment staff. She took over as head of private equity in March, according to her LinkedIn profile. Before that, she worked as an accountant, private equity analyst and private equity portfolio manager.

Later in the meeting, Clifford thanked her colleagues for their “camaraderie and leadership. I know I’ll carry what I’ve learned to my next adventure and I’ll always look back on this experience with fondness,” she said.

It was not clear who would be taking over Clifford’s position or when. Clifford declined to comment on what her new opportunity was.

The council also gave final approval to a set of new regulations, including an increase in the division’s allowable private equity allocation from 12 percent to 15 percent.

The amendments were first approved last November, as reported by sister title Private Equity International. After that, they were published in the New Jersey Register and the public was given 60 days to comment. No comments were made, and the council voted unanimously to adopt the rule.

The council also did not object to two new private equity commitments:

Action Item: read Corey Amon’s monthly investment report for April 2020 here.