Fairfield Greenwich Group, a $16 billion New York-based hedge fund, has formed a new business unit dedicated to the marketing and distribution of external hedge funds and private equity funds.

The new unit, which is called Fairfield Capital Partners, currently has mandates that include three multi-billion dollar funds, whose strategies include systematic trading, activist investing, and discretionary global long/short.

“Our firm has one of the largest dedicated hedge fund sales teams in the industry and an extensive global investor network which continues to grow,” said Matt Brown, partner and head of the Fairfield Capital Partners team.

“We therefore believe FGG will be an attractive marketing and distribution partner for many of the industry’s leading managers.”

Fairfield was founded in 1983 and has offices in New York, London, Madrid, Spain and Bermuda.