West Virginia Investment Management Board, Charleston, invested $30 million in hedge fund Anchorage Capital Partners, said H. Craig Slaughter, executive director of the $9.1 billion system.
Funding came from a board investment in Anchorage Crossover Credit, another hedge fund that was liquidated, Mr. Slaughter said.
Separately, $6.4 million was given to Bridgewater’s Pure Alpha Major Markets fund, a new commitment. Funding comes from a dividend distribution from Bridgewater’s Pure Alpha fund, in which the system has invested $51.9 million, Mr. Slaughter said.
The board is also redeeming a $12 million investment in Vicis Capital. Mr. Slaughter said the hedge fund was closed in January 2010, and the board did not roll the investment over into a new fund offered by the manager. He declined to provide additional details.