BlackRock, the US-based investment management firm, is set to acquire Cyllenius Capital Management, a growth equity hedge fund firm based in Boston.

Cyllenius was formed in 2001 and currently manages over $100m (€102m) on behalf of institutional and high net worth investors. BlackRock, one of the foremost fixed income managers in the US has been active in the alternative investment arena for nearly 10 years. The acquisition of the all-cap Cyllenius gives the firm its first domestic equity hedge fund product.