Arrow Hedge Partners Inc. and Marret Asset Management Inc. launched Accelerator Capital Fund Inc., a hedge fund incubator fund, today.

Accelerator will invest its capital in early stage hedge funds that utilize a variety of alternative investment strategies, including long/short equity, relative value, event driven and global macro. It has secured commitments for approximately $150 million from institutional investors, including a major Canadian bank, a pension fund and a wealth management firm on behalf of some of its individual high net worth investors, the company announced today.

“Both Arrow and Marret have extensive experience in identifying top hedge fund managers and in seeding and managing early stage hedge funds,” said Barry Allan, president and CEO, of Marret, in a release. “We realize that the initial capital is often the most difficult to obtain. Accelerator will provide this and more, including operational and risk management support and capital raising assistance.”

“It’s the first fund of its kind in Canada and we believe that the fund will give investors unparalleled access to the next generation of top flight Canadian investment managers. We anticipate seeding up to 10 managers,” said Jim McGovern, Managing Director and CEO, of Arrow.

Peter Rizakos has been appointed President of Accelerator Capital Management Inc., the manager of the fund, and will oversee the fund’s investment and operational activities. He has over 20 years experience in the financial services industry as a securities lawyer and a senior executive in the investment fund industry.