Two hedge funds are joining forces to form a $100 million fund of hedge funds from two funds previously run separately.
Gorelick Brothers Capital and Access Fund Management have merged Gorelick's Morrocraft Diversified Fund and Access' Access Fund. The product of the combination will retain the Access Fund name, but will be primarily managed by Charlotte, N.C.-based Gorelick, the Charlotte Business Journal reports.
Prior to the merger, Morrocraft has about $30 million in assets under management.
Access is based in San Francisco.