The newly established Pennsylvania-based hedge fund Orso Capital Management is launching its maiden offering, a quantitative stock fund.

The fund, Quadrant Plus Partners, will aim for long-term growth investing exclusively in Standard & Poors' 500 and Russell 2000 index constituents, said Orso founder Andrew Lydon.

Lydon established Orso earlier this year after running an eponymous hedge fund analysis, modelling and due diligence company.

Before setting up Andrew Lydon Consulting in 2006, Lydon worked at Bull Run and Fisher Investments.