W.V. Adds AQR, Pershing Square

Nov 2 2011 | 8:34am ET

West Virginia's main public pension fund manager has hired a pair of hedge funds, bringing the total number of managers in the West Virginia Investment Management Board of Retirement's portfolio to 25.

The latest additions are AQR Capital Management and Pershing Square Capital Management. The former's Delta Offshore Fund III received a $40 million allocation and the latter's flagship International fund $30 million, HFMWeek reports. The Pershing Square investment is subject to a three-year lockup.

All told, the $12.9 billion system, which manages the assets of 18 public pension plans, has $1.06 billion invested in hedge funds.

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