Norwalk, Connecticut-based EACM Advisors has a storied history dating back three decades. Evaluation Associates was founded in 1976 as an institutional consulting firm. A fund-of-funds unit focused on long-only traditional multimanager funds was introduced in 1984 and by 1991 the firm created an independently operated unit dedicated to managing hedge fund-of-funds portfolios named Evaluation Associates Capital Markets. In 2004 Mellon Financial Corp. bought EACM, renaming it EACM Advisors, and placed the independent firm within Mellon’s asset management group…