The New Jersey Department of the Treasury's Division of Investment has issued a request for proposals seeking real assets investment consulting services. The state pension fund is looking to hire external consultants to provide strategic advice on allocating capital to real assets including infrastructure, real estate, and natural resources.

The RFP signals New Jersey's intention to potentially expand or optimize its real assets portfolio, which represents a significant portion of many public pension funds' alternative investments. Real assets have gained popularity among institutional investors seeking inflation protection and stable long-term returns that are less correlated with traditional stocks and bonds.

This move comes as pension funds nationwide grapple with funding shortfalls and seek diversification strategies to meet future obligations. The selection of a qualified consultant could shape New Jersey's real assets strategy for years to come, potentially influencing billions in investment decisions.