New Jersey boosts hedge fund expertise with F3 trusteeThe New Jersey State Investment Council has add- cil is part of a long tradition of relying on hedge funded three new trustees, including Guy Hasel- expertise. Chairman of the State Investmentmann, who works with a group known Council is Orin Kramer, general partner ofto 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 servicesstate governor Chris Christie industry.last month. He has been with New Jersey has long viewed al-Gregoire Capital since 2008, ternative investments as a wayjoining the firm after more to continue to improve the $68than 20 years of trading expe- billion pension funds risk-ad-rience, including a stint at justed returns. The states updat-Moore Capital. The term F3 was ed investment plan for 2010 andtrademarked by Gregoire and re- 2011 includes a boosting of theflects the firms construction of percentage allocated to hedge fundsportfolios of funds of hedge funds to 7% from 6.5% due to anticipatedthat individually allocate to between 25 funding of new global macro strategies,and 40 hedge funds. which is expected to boost the overall return of Haselmanns joining of the State Investment Coun- the hedge fund portfolio.