West Virginia Investment Management Board, Charleston, committed to a new private equity fund and invested an additional $55 million with three hedge funds, according to the $13.2 billion board's recently released January financial statement.
The board made a new $2.7 million commitment to Altaris Health Partners III, a buyout fund managed by Altaris Capital Partners focusing on private equity investments in health-care and health-care-related businesses, primarily in the U.S. and secondarily in Western Europe.
The West Virginia board also invested an additional $25 million in CQS Diversified Fund (SPC) Ltd. SPA II. That is in addition to an existing $61.8 million investment.
It also invested an additional $20 million in Double Black Diamond, a multistrategy fund managed by Carlson Capital Management, and $10 million in Pine River Fund, a global multistrategy relative value portfolio run by Pine River Capital Management. The new allocations increase the total investments to $90 million for Double Black Diamond and $80 million to Pine River.
A phone call to Craig Slaughter, West Virginia board executive director, was not returned by press time.
