St Louis, MO-based Hancock Investment Advisors, a registered investment advisor, has chosen PPB Advisors and Spouting Rock Consultants as partners to develop a multi-strategy alternative product for its accredited clients.

Hancock investment advisors will market the fund to existing clients and contacts, while PPB will handle administration, operations and reporting, and Spouting Rock will create and manage the fund. PPB and Spouting Rock, which are both based in Pennsylvania, have worked together before on several investment products.

"We are confident that our relationship with Spouting Rock and PPB will provide Hancock clients with several tangible benefits," said Joseph Garea, managing director at Hancock. "It also enables our firm to adapt to an environment in which the traditional asset allocation model has been challenged, and deliver a differentiated product."