NEW YORK (HedgeWorld.com)–A John Hancock Financial Services Inc. subsidiary, Declaration Management & Research LLC, McLean, Va., plans to offer hedge funds by way of a strategic partnership with OneCapital Management Partners LLC.

Executives for Declaration, a fixed-income and structured products manager of US$9 billion, hope to build on successes in the fixed-income arena. “Alternative investments are a significant initiative for our company and are a direct outgrowth of what we have achieved for our clients in our traditional businesses,” said Bill Callan, president of Declaration, formerly called Independence Fixed Income LLC.

Declaration’s first hedge fund offering will include selected strategies in place with its traditional business, according to a statement from OneCapital. Mr. Callan couldn’t be reached for additional information.

In the statement, he said, “Declaration is looking forward to working with OneCapital on creating hedge funds. OneCapital understands our firm, the strategies we manage, and the unique skills necessary to develop an alternative investment business within a larger institutional asset management company,” he said.

OneCapital develops, markets and manages single-strategy hedge funds and fund of funds and is minority-owned by a unit of the reinsurance company XL Capital Ltd. In May, OneCapital agreed to help Zeus Capital LLC, Greenwich, Conn., with expansion efforts for its fixed-income arbitrage fund .

PBarr@HedgeWorld.com