Hedge fund firm Morgan Creek Capital Management announced in a statement Monday that it has launched its first open-end alternative mutual fund.
The aim of the mutual fund will be to provide long-term total returns while utilizing a broad set of global strategies that seek lower volatility than a traditional portfolio of equities and fixed-income securities.
Morgan Creek explained further that the fund’s multi-strategy and multi-asset class structure will allow the firm’s investment team to seek “appropriately hedge risks in the market in an effort to minimize losses in times of stress.”
Blackstone’s Alternative Asset Management (BAAM), the firm’s Hedge Fund Solutions Business, announced back in July that it will also launch an alternative investment-focused mutual fund offering daily liquidity – a first for the organization.
Besides hedge funds, Morgan Creek also maintains opportunistic exposures across asset classes, from traditional equities and fixed income to alternatives such private equity, real estate and venture capital.