Hedge Funds

Investcorp offers multistrategy fund

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Investcorp Asset Manage-ment has launched its second hedge fund, a global multistrategy vehicle run by Minneapolis startup Interlachen Capital Group.

The addition is part of a growth plan that calls for Investcorp, a $9.5 billion New York alternative investment firm, to add two to four new single-manager fund strategies a year. The firm is targeting hedge fund strategies that have high growth potential.

Investcorp Interlachen Multi-Strategy Fund will be run by Andrew Fraley, the former head of market-neutral strategies at EBF & Associates, a Minnetonka, Minn.-based hedge fund operation that shut down its market-neutral business last year. At