State of Wisconsin Investment Board, Madison, invested $100 million each in direct hedge funds managed by Claren Road Asset Management and Ascend Wilson Fund, according to Vicki Hearing, public information officer for the $78.6 billion board.
Cliffwater, the board’s hedge fund consultant, assisted with the searches.
The investments are part of the board’s goal to invest in 15 to 20 direct hedge funds, allocating a total of 2% of assets, Ms. Hearing wrote in an e-mail.
Earlier this year, the board invested $100 million each with Capula GRV Fund, which “invests in fixed-income and currency arbitrage and relative-value opportunities in the most liquid G3 countries,” and MKP Credit, “a long/short fund focused on credit sensitive assets,” Ms. Hearing said in previous e-mails.