Battenkill Capital Management, a Princeton, New Jersey-based investment adviser, has been engaged as a sub-adviser by Hatteras Alternative Mutual Funds, a provider of alternative investment mutual fund products. 

Battenkill will employ its market neutral strategy on behalf of Hatteras, which is located in North Carolina.

"Battenkill will primarily utilise pairs trades, combined with overlay directional trades," says Rick Franzen, the portfolio manager at Battenkill. "Our trading focuses on an investment universe of companies within the energy, industrials and basic materials sectors which we have been covering in many cases for over a decade."

Battenkill was founded in 2007 and its principals have experience with both money management firms and trading and operations.