RYE, N.Y. (HedgeWorld.com)–Tremont Advisers Inc.* is now Tremont Capital Management Inc., a name change made to reflect the firm’s focus on discretionary asset management of hedge fund portfolios.

“Tremont’s evolution reflects the need to adapt in the rapidly expanding alternative investment industry,” Barry Colvin, president of Tremont, Rye, N.Y., said in a statement. “Over the years, we have built a rigorous investment process designed to meet the needs of a growing and diverse universe of hedge fund investors.”

Sandra Manzke, who was one of first women to own her own consulting company, founded the firm in 1984 Previous HedgeWorld Story. Under the leadership of Co-Chief Executives, Ms. Manzke and Robert Schulman, the firm has grown to overseeing US$8 billion in hedge fund assets. In 1999, Tremont acquired TASS Research and later in 2001 Tremont was acquired by Oppenheimer Acquisition Corp., the parent company of OppenheimerFunds Inc., .

The firm has launched a number of initiatives in recent years, including the introduction of Securities and Exchange Commission-registered hedge funds of funds for pension funds, called the OFI Tremont Institutional Hedge Fund Series Previous HedgeWorld Story. Also, an alliance with RiskMetrics helped the firm create HedgePlatform, which is a risk reporting system for hedge fund managers and investors.

*Tremont Capital Management Inc., Rye, N.Y., is a minority investor in, and strategic partner with, HedgeWorld.