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Blue Rock Adds AIP to Its Stable

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MINNEAPOLIS (–Blue Rock Advisors Inc. named Advanced Investment Partners LLC, Clearwater, Fla., as a manager of one of its long/short equity market neutral hedge fund of funds.

“This is a very significant decision. Blue Rock is one of a few fund of funds advisers to focus completely on the long/short equity market neutral strategy, so this is a terrific vote of confidence for us,” said Barry Schneirov, managing partner, business development at Advanced Investment Partners.

Advanced Investment Partners was founded in 1996, originally under the name Advanced Investment Technology. It now has more than US$600 million in assets under management. The firm describes itself as distinct from other quantitative managers because of its of artificial intelligence, such as neural networks and genetic algorithms that allow a computer to learn from its information processing. It is a member of State Street Global Alliance LLC.