Virginia adds l/s strategy to equity program

The $92 billion Virginia Retirement System hired a long/short equity hedge fund earlier this year to boost the alpha prospects of its public equity investment portfolio.

Philippe Laffont’s Coatue Management will handle $400 million for the retirement system, which will be funded over a two-year time frame, according to board meeting documents. Coatue is known for its focus on telecom, media and technology sector focus. For instance last summer, the firm was one . . .

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