Tuesday, 24 November 2015
Last updated 18 min ago
Jan 18 2011 | 8:14pm ET
West Virginia has invested more than $30 million in two hedge funds and pulled $12 million from another.
The moves by the West Virginia Investment Management Board came after two of the hedge funds it invested with were shuttered and a third returned excess capital. The $9.1 billion public pension moved $30 million it had invested in a now-liquidated Anchorage Capital Partners credit hedge fund to another Anchorage fund, Pensions & Investments reports. It also took $6.4 million in distributions from Bridgewater Associates’ Pure Alpha fund and put it with Bridgewater’s Pure Alpha Major Markets fund.
Bridgewater launched the Major Markets fund late last year to give investors an opportunity to continue investing money returned from the Pure Alpha fund in a similar strategy.
On the other hand, West Virginia is simply taking its $12 million from Vicis Capital back. The firm closed its doors last January in the face of a federal fraud investigation. The pension chose not to invest in a new hedge fund launched by the Vicis team.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…