Bill Collins' Brencourt Advisors has launched a leveraged version of its flagship multistrategy fund, continuing an expansion that the $1.85 billion New York-based firm began last year.
Brencourt Enhanced Multi-Strategy Fund opened on February 1 and offers twice the leverage of Brencourt Multi-Strategy. It is available to offshore and onshore investors.
The fund uses the same team, portfolio and infrastructure as the original fund, which is managed by Collins. The original fund is typically 120% long by 30% short.
As with all Brencourt vehicles, the new fund carries a soft lockup. Investors can redeem