Brencourt maps out expansion

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Bill Collins's Brencourt Advisors is in expansion mode, having added four investment employees this year as it prepares to exploit an increase in opportunities with fresh capital and a new fund.

The New York firm, which manages $1.6 billion, closed to new capital in last year's second half. But with mergers on the rise and corporate defaults also expected to increase, the multistrategy shop is now planning to accept as much as another $400 million this year and could accept as much as $1 billion more next year.

Some of the assets will be absorbed by the firm's