Friday, 27 February 2015
Last updated 5 hours ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…