Deepak

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Private Equity Investments in GSO Capital Opportunities Fund, L.P., JLL Partners Fund VI, L.P., TPG VI, L.P., TPG Financial Partners, L.P., and HIG Bayside Debt & LBO Fund II, L.P. This due diligence memorandum is presented to the State Investment Council (the “Council”) […]

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Hedge Fund Investments in Knight Vinke Institutional Partners II, L.P., and Marathon Special Opportunities Fund, L.P. This due diligence memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16-69.9(a) to report on a proposed $100 million equity long/short fund

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Real Estate Investment in Lehman Brothers Real Estate Partners III This due diligence memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16-69.9 to report proposed real estate investment of: $100 million in the Lehman Brothers Real Estate Partners

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Private Equity Investments in CSFB/NJDI Investment Fund, L.P. (2008-1 Series), CS/NJDI Emerging Opportunities Fund II, L.P., NJHL European Buyout Investment Fund III, L.P. and AnaCap Financial Partners Fund II, L.P. This due diligence memorandum is presented to the State Investment Council (the “Council”)

Memorandum to: State of New Jersey State Investment Council From: William G. Clark, Director Subject: Proposed Hedge Fund Investment in Pershing Square II, L.P. This due diligence memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16-69.9(a) to report on a proposed $100 million direct absolute return fund commitment to Pershing

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Investments in Commodity-Linked Notes This memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16-69.9 (a) to report on a proposed investment of up to $500 million in one or more Commodity-Linked Notes (explained below). Please note that these

Memorandum to: State Investment Council From: William G. Clark, Director Subject: Proposed Real Estate Investments in Westbrook Real Estate Fund VIII; Apollo Domestic Emerging Markets Fund; PLA Residential Fund III; Walton Street Mexico Fund I; and Walton Street Real Estate Fund VI This due diligence memorandum is presented to the State Investment Council (the “Council”)

Overview Fund size is anticipated to be $18 – $20 billion. Significant investments in operating companies through acquisitions and restructurings. Invest between $250 million & $1 billion of equity capital in companies with market valuations of $300 million or more. Fund Strategy Investing in businesses with strong underlying “franchise” assets, partnering with outstanding management teams,