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Thursday, 19 January 2017
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May 19 2011 | 1:09pm ET
Wyoming's main public pension fund has spent the last several months building up its portfolio of macro hedge funds. But the state's $5.6 billion Retirement System has an appetite for other hedge fund strategies, as well.
The pension is set to concentrate its attention on long/short equity funds later this year, HFMWeek reports. Trent May, chief investment officer, said the system is already in the early stages of its investment process.
The new searches come as Wyoming nears completion of a $180 million program investing in macro funds. Five have been hired, each receiving $30 million; they are the pension's first-ever investments in hedge funds. Wyoming is finalizing its deal with a sixth manager, which May declined to identify.
The first five are all heavy hitters: BlueCrest Capital Management, Brevan Howard Asset Management, Caxton Associates, Moore Capital Management and Graham Capital Management.
In addition, three other hedge funds have been hired to manage part of Wyoming's global tactical asset allocation portfolio: AQR Capital Management, Bridgewater Associates and Grantham, Mayo, Van Otterloo and Co.