RWC Partners has hired a three-strong investment team from a boutique fund firm to establish a diversified return division.
Clark Fenton, who founded and is managing partner of multi-strategy firm Agilis Investment Management, is among the recruits.
He is joined at RWC by Agilis chief operating officer Praveen Kanakamedala and its head of trading Charles Crowson, who will be moving to RWC later this year.
The specialist boutique was set up in 2017 and runs the $75 million (£58 million) multi-asset Luxembourg-based Protea Agilis Ucits fund, which will be transferred to RWC as part of the transaction.
It is not specified whether Agilis' remaining six members of staff, who cover sales and back office roles, will stay on.
RWC said the move will offer investors a 'cost-effective' way to diversify.
RWC chief executive Dan Mannix (pictured) said: 'Investors need strategies that diversify their risk away from core equity and fixed income assets.
'The drive for alternatives continues to grow and Clark and his team have designed an innovative investment approach which offers an uncorrelated solution with the benefits of low cost, frequent liquidity and simplicity.
'The strategy enhances the breadth of our capabilities and will help meet the increasing demand from investors for strategies that have a low correlation with their core equity and bond portfolios.'
Fenton added: 'From the launch of Agilis we have built our fund and investment process to meet the increasing challenges facing investors wanting to add a genuinely diversifying asset to their portfolios.
'By joining RWC we will be able to focus on continuing to build and strengthen our investment proposition.'