Alpine Associates Advisors and affiliates have started a hedge fund with $29.4 million, FINalternatives reports. The Alpine Heritage II fund is uncapped and has attracted investment interests from 17 investors.

The fund is led by Victoria Eckert, president of Eckert and Alpine general partner, Robert Emil Zoellner, president and chief portfolio officer of Arbitrage & Trading Management and an Alpine partner. The New Jersey-based firm focuses on merger arbitrage and long/short equity trading.

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