Culross Global Management, a London-based fund of hedge funds manager, has launched the Culross Long Term Alpha Fund. 

Over the past decade, credit has been an important profit generator for Culross, and the company believes that the less liquid opportunities now on offer merit their own vehicle.  

The fund undertakes not to invest in funds offering less liquidity than the fund itself. It will invest across eight to 15 funds and has a target return of 15 to 20 per cent. Expected volatility is in the eight to ten per cent range.

Culross Global Management was founded by Nigel Blanshard in 1992 and pursues thematic fund of hedge fund management. In 2000 the firm launched Culross Global Fund. In 2001 Culross Global Arbitrage Fund was launched, followed in 2005 by the launch of Culross Global H Fund.