Partner Wins West Virginia Mandate

Mar 21 2012 | 12:26pm ET

West Virginia's chief public investment manager has hired another hedge fund, its fourth in the last six months.

The $12.9 billion West Virginia Investment Management Board has awarded a $45 million mandate to San Francisco-based Partner Fund Management. The firm's Diversified Offshore Fund should offer "risk-adjusted capital appreciation" through "strategies with a primary focus on liquid equity markets," HFMWeek reports.

While the fund invests in liquid securities, West Virginia's investment won't be for about three years: The board has agreed to an 85% lockup expiring in January 2015.

The hire of Partner follows the additions late last year of Graham Capital Management, Pershing Square Capital Management and AQR Capital Management. All told, West Virginia has about $1.56 billion invested in 26 hedge funds.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note