Abrams Capital Management, one of Boston’s largest hedge fund firms, has raised $2.9 billion for its Abrams Capital Partners II fund, according to a filing with federal securities regulators. There are 457 investors in the fund, which posts a minimum investment of $5 million.
Abrams picks stocks and fixed-income securities it believes are undervalued. Its founder, David Abrams, started the firm in 1999 after leaving the Baupost Group, Boston’s largest hedge fund firm.
Correction: Due to a reporting error, a previous version of this story inaccurately said Abrams Capital had launched a new hedge fund. The regulatory filing was an annual update on an older fund, not a new fund.