W.V. Invests In Carlson's Double Black Diamond

Mar 4 2011 | 9:07am ET

West Virginia's main public pension manager has awarded $60 million to Dallas-based Carlson Capital.

The $12.2 billion West Virginia Investment Management Board's hedge fund subcommittee made the allocation to the Double Black Diamond Fund at its September meeting, HFMWeek reports. Double Black Diamond is a multi-strategy vehicle with about $1.7 billion in assets.

More recently, last month the subcommittee made initial moves towards another hedge fund investment, discussing an allocation to Tenor Capital, a New York-based convertible arbitrage fund.

West Virginia currently invests about 10% of its assets in 22 hedge funds.

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