An ING unit has bought a minority stake in a hedge fund manager, signaling a new strategy.

Lincoln Vale has sold a piece of itself to ING Investment Management, Americas, a first for the division, Pensions & Investment reports. Terms of the deal were not disclosed, but ING will become London- and Boston-based Lincoln Vale’s primary distributor. The alternative investments shop manages hedge funds, private equity vehicles and structured products.

The Lincoln Vale deal is likely to be followed by others for stakes in small alternatives firms, according to ING.