Wisconsin makes first hedge fund bet, on Capula

``After months of reviewing managers, the State of Wisconsin Investment Board made its first-ever allocation to hedge funds this week with a $100 million allocation to Capula Investment Management LLP, the state said... Unlike other pension funds where investment officers often rely on so called funds of funds to select the individual managers, Wisconsin is making so called direct investments. It plans to select between 15 and 20 managers.''