New York-based hedge fund Doherty Advisors will unveil a new strategy, HFMWeek reports. Doherty will merge two of its strategies the KBD Relative Value Volatility Strategy and the Grey Swan Equity Hedge Strategy, to launch the KBD Relative Value Plus program.

The portfolio will be launched with $45 million commitments from family offices and funds of hedge funds. The new strategy has a $1.5 billion capacity. Barclays Capital and NewEdge have been appointed as the prime brokers.

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