The hedge fund firm founded by former Och-Ziff Capital Management employees has received seed capital from London-based alternative manager Investcorp.
According to a joint statement, Bahrain-based Investcorp invested an undisclosed amount to Matthew Taylor and Ty Popplewell’s event-focused equity Kortright Capital Partners. Investcorp, which typically invests startup capital of $50 million to $100 million to alternative investment firms, allocated a total of $2 billion in five hedge funds through its seeding program.
Based in New York, Kortright has about $75 million in assets. It seeks to profit from corporate events such as mergers, spinoffs and acquisitions. Investcorp, which had $11.5 billion in assets as of December 31, runs its hedge fund operations out of New York.