Reuters – Swiss alternative asset manager Partners Group said on Monday it will spin out its hedge fund replication business next month as it focuses on private equity, private real estate and other unlisted markets.

Partners, which manages more than 24 billion Swiss francs (14 billion pounds) in assets, said the alternative beta strategies team, headed by Lars Jaeger, will buy a minority stake in the unit while Partners will retain a majority stake.

The alternative beta strategies team runs approximately 200 million Swiss francs in funds that use derivatives and other techniques to try to reproduce the performance of hedge funds but at a much lower cost. Products created by the method are often called hedge fund clones.

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