Hermes BPK Partners, the $2.6 billion alternatives advisory boutique for the BT Pension Scheme, and US private equity firm Northern Lights Capital Group, have announced a second deal for their Accelerator Fund, which invests in early stage and emerging hedge funds.

The Accelerator fund has invested in Altalis Capital Partners, a New York-based value-oriented long/short equity strategy, according to a statement from the two firms. The size of the deal was not disclosed but Altalis now has about $150 million in assets under management following the transaction, the statement said.