West Virginia Investment Management Board, Charleston, invested $95 million with two hedge funds, said an official of the $16.9 billion board.
On Dec. 22, it invested $75 million in Menta Global Offshore Fund, managed by Menta Capital.
The board also invested an additional $20 million in HBK Multi-Strategy Offshore Fund, managed by HBK Capital Management. West Virginia already had $60 million in the HBK fund before the new investment.
As of Dec. 31, the board had $1.45 billion in event-driven hedge fund investments, $915 million in equity long/short funds and $44 million in directional funds.