The $78.6 billion State of Wisconsin Investment Board has put in $100 million each in direct hedge funds run by Claren Road Asset Management and Ascend Wilson Fund, Pensions & Investments reports. The Madison, Wisconsin-based board manages the assets of the Wisconsin Retirement System, the State Investment Fund and other state trust funds.
The selection process was facilitated by the board’s hedge fund consultant Cliffwater. Cliffwater is an alternatives advisory firm. The allocations are part of the board’s plan to invest two percent of assets in direct hedge funds.
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