Elementum Gets W. Va. Cat Re Nod

Jul 3 2013 | 2:30am ET

West Virginia’s main public pension fund has awarded a $40 million mandate to a catastrophe reinsurance hedge fund.

The $13.2 billion West Virginia Investment Management Board picked Elementum Advisors, according to its May financial statement. West Virginia’s investment with the firm began on May 1.

West Virginia invests more than 10% of its assets in hedge funds.

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