Nineteen months after his Amaranth Advisors collapsed under more than $6 billion in losses, Nicholas Maounis is back.

The Amaranth founder is readying his new venture, Verition Fund Management, later this year. The new multi-strategy shop will debut with more than $200 million, according to Bloomberg News.

Maounis is offering something of an olive branch to his former Amaranth clients, who saw more than two-thirds of the once-$9.5 billion multi-strategy shop’s assets disappear when natural gas trades made by trader Brian Hunter went bad to the tune of $6.6 billion in losses. Investors who still had money with Amaranth when it went under in September 2006 will pay no incentive fees for three years, Bloomberg reports. In addition, the fund will charge no management fees, although all investors will share in paying the fund’s expenses.

“Many of you have inquired as to my future plans,” Maounis wrote to former Amaranth clients on Friday. “I welcome the opportunity to speak with you personally about my new venture.”

Greenwich, Conn.-based Verition will debut with three strategies. It will have quantitative and fixed-income components, as well as a special situations strategy focusing on event-driven convertible bond trades.