NEW YORK (HedgeWorld.com)–OneCapital Management Partners LLC is working to build a firm that offers the three major avenues of hedge fund investment.

OneCapital’s goal is to offer multi-adviser funds, single-adviser funds and structured products, said Reid Bernstein, co-chief executive of the firm. Moreover, the firm will remain flexible in how it structures those vehicles, and is open to using both internal and external management for its offerings. The first offering is likely to be a hedge fund of funds.

OneCapital’s latest addition was the hiring of Jerrod J. Stelli, who will help build the firm’s business in Europe and Asia. Mr. Stelli is a managing director and member of OneCapital’s investment committee. Previously he was director of strategic business development for Caxton Associates LLC, according to OneCapital.

Mr. Stelli has strong experience in alternatives, and will target institutions in Europe and Asia, though he’ll be based in New York, Mr. Bernstein said. Caxton officials couldn’t be reached for comment.

OneCapital previously hired Andrew T. Malloy, formerly with TAG Associates Ltd., also as a managing director. OneCapital was formed earlier this year in part with an equity investment from XL Capital Ltd, the large Hamilton, Bermuda-based reinsurance firm.