The State of Wisconsin Investment Board is planning on shifting its portfolio to include an allocation of hedge funds that may total more than $3 billion.
A spokeswoman for the $68 billion fund declined to discuss the plan to incorporate hedge funds, citing the need for formal board approval.
Wisconsin is one of the largest state investment programmes to have not yet invested in hedge funds. Last fall, trustees heard presentations on hedge funds from investment consultant Cliffwater. Cliff Asness, managing and founding principal of AQR Capital Management, spoke to the board about a balanced