Hermes makes first hedge fund acceleration investment

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Early investment from Hermes and Northern Lights helps accelerate Taurasi hedge fund growth

Hermes BPK Partners has teamed with Seattle-based private equity company Northern Lights Capital Group to create a hedge fund early-stage investment vehicle.

Known as the Accelerator Fund, the vehicle has an initial $250 million from institutional investors to use to help start-up hedge fund managers grow.

The fund's first allocation is to the Taurasi Capital Master Fund, a long/short credit hedge fund run by Taurasi chief investment officer Mark Melchiorre.

Melchiorre, the former head of credit