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TRENTON-State treasurer Andrew Sidamon-Eristoff said Friday that the New Jersey State Investment Council has formed a search committee to find a replacement for Timothy Walsh, director of the New Jersey Division of Investment. Walsh, who has overseen investments for the $74.3-billion pension plan since 2010, is leaving state government effective August 30. He’ll become president and COO of Gaw Capital North America, with an eye toward building up the Hong Kong-based real estate investor’s US business, according to published reports.

“Their goal is to really develop their US operations,” with an emphasis on hotels and office buildings, Walsh told Bloomberg Friday evening. “They’re known more for their operations in China but they also have a very extensive US track record for family assets and some select investors.” Among their North American operations is affiliate company Downtown Properties, based in Los Angeles.

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