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Abrams reports on hedge fund

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.

Beth Healy

Beth Healy can be reached at bhealy@globe.com.

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.