Institutional Investors

Wisconsin adds first hedge fund


The State of Wisconsin Investment Board announced its first manager in its dedicated hedge fund portfolio – Capula GRV Fund.

Capula GRV is a global relative-value hedge fund that is managed by Capula Investment Management. Capula, a relative-value fixed-income absolute return fund, also won a $200 million mandate recently from the Pennsylvania Public School Employees Retirement Board.

In Wisconsin, the $100 million hedge fund foray was funded from cash, as the $68 billion state fund continues to negotiate and screen possible candidates with the help of its hedge fund consultant, Cliffwater. The initial