UK fund manager RWC Partners has received authorisation for its UCITS III US Absolute Alpha fund in Germany. The fund is a US equity long/short strategy managed by Mike Corcell. It was launched in October 2009 and has since raised $350 million.

Corcell was previously the manager of the Threadneedle American Crescendo fund which he managed from 2004 until 2008. He has a team of seven  including Alex Robarts, also from Threadneedle, Gabe Marshank and Chris McNally from SAC Capital.

The fund offers daily liquidity and is available in euro, dollar and sterling fully hedged share classes.

Dan Mannix, head of business development, said: “We launched our first UCITS III fund three and a half years ago and have seen significant demand over that period from our German clients. Registering our UCITS III funds in Germany and ensuring they are transparent from a tax perspective is key for our clients and also makes the funds more broadly available.”