The New Jersey State Investment Council will be legally required to disclose the fee and carried interest it pays to private fund managers if a state bill is approved.
The Council would have to report its external fund managers’ fee and carried interest data on its website, and to the boards of trustees of each state-administered retirement system in New Jersey.
The NJSIC supervises the New Jersey Division of Investment, which manages the seven state pension funds, totaling $72.9 billion.
It began reporting the data in 2015, following stakeholder pressure, but is not legally obliged to do so.
Private equity management fees and expense costs to the pension fund were $132.3 million last year, the data show.