West Virginia puts $30 million more with hedge funds

West Virginia Investment Management Board, Charleston, invested an additional $30 million total with four existing hedge fund managers, according to the $13.2 billion board’s August financial statement.

It invested an additional $10 million each to Double Black Diamond, a multistrategy fund managed by Carlson Capital Management, and Pine River Fund, a global multistrategy relative value portfolio run by Pine River Capital Management.

It also invested an additional $5 million each to Graham Global Investment Fund II, a global macro fund managed by Graham Capital Management, and Winton Futures Fund, a managed futures fund run by Winton Capital Management.

The new allocations increase the total investments to $70 million for both Double Black Diamond and Pine River, and $35 million each for Graham Global and Winton.

A phone call to Craig Slaughter, West Virginia board executive director, was not returned at press time.