New Jersey boosts hedge fund expertise with F3 trustee The New Jersey State Investment Council has add­ed three new trustees, including Guy Hasel­mann, who works with a group known to offer a fund of funds of funds or F3, as it is often called.

Haselmann was appointed by state governor Chris Christie last month. He has been with Gregoire Capital since 2008, joining the firm after more than 20 years of trading expe­rience, including a stint at Moore Capital. The term F3 was trademarked by Gregoire and re­flects the firm's construction of portfolios of funds of hedge funds that individually allocate to between 25 and 40 hedge funds.

Haselmann's joining of the State Investment Coun-

cil is part of a long tradition of relying on hedge fund expertise. Chairman of the State Investment

Council is Orin Kramer, general partner of New York-based Boston Provident,

which manages investment vehicles focused on the financial services industry.

New Jersey has long viewed al­ternative investments as a way to continue to improve the $68 billion pension fund's risk-ad­justed returns. The state's updat­

ed investment plan for 2010 and 2011 includes a boosting of the

percentage allocated to hedge funds to 7% from 6.5% due to anticipated

funding of new global macro strategies, which is expected to boost the overall return of

the hedge fund portfolio.