1. New Jersey boosts hedge fund expertise with F3 trustee
The New Jersey State Investment Council has add- cil is part of a long tradition of relying on hedge fund
ed three new trustees, including Guy Hasel- expertise. Chairman of the State Investment
mann, who works with a group known Council is Orin Kramer, general partner of
to offer a fund of funds of funds or New York-based Boston Provident,
F3, as it is often called. which manages investment vehicles
Haselmann was appointed by focused on the financial services
state governor Chris Christie industry.
last month. He has been with New Jersey has long viewed al-
Gregoire Capital since 2008, ternative investments as a way
joining the firm after more to continue to improve the $68
than 20 years of trading expe- billion pension fund's risk-ad-
rience, including a stint at justed returns. The state's updat-
Moore Capital. The term F3 was ed investment plan for 2010 and
trademarked by Gregoire and re- 2011 includes a boosting of the
flects the firm's construction of percentage allocated to hedge funds
portfolios of funds of hedge funds to 7% from 6.5% due to anticipated
that individually allocate to between 25 funding of new global macro strategies,
and 40 hedge funds. which is expected to boost the overall return of
Haselmann's joining of the State Investment Coun- the hedge fund portfolio.