Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
12/10/2011
West Virginia allocates to Graham Global fund
The West Virginia Investment Management Board (WVIMB), a $12.9bn pension fund which manages the assets of 18 state pension plans, has allocated $30m to Graham Global Investment Fund, as it looks to broaden its exposure to derivatives.
The US pension fund, which currently allocates $1.05bn across 23 hedge funds, hired Graham Global with a view to “achieving long-term capital appreciation”, through trading in “global fixed income, foreign exchange, commodities and other stock indices”, financial statements seen by HFMWeek confirm.
The fund is run by Graham Capital Management (GCM), a Connecticut-based manager with approximately $8bn in assets, which uses macro-orientated discretionary and quantitative investment
strategies.
This latest allocation joins a line up which includes Magnetar Capital, Double Black Diamond, Highbridge Capital and Perry Partners.
WVIMB’s terms with Graham Global includes a monthly redemption provision, with three days’ prior notice. HFMWeek revealed in August that the US pension fund had also allocated $45m to Marshall Wace.
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