US hedge fund Independence Capital Asset Partners (ICAP) has launched an onshore UCITS-compliant version of its flagship fund in conjunction with Swiss firm Prosper, reported Citywire Global this week. Geneva-based Prosper, founded by Riccardo Barilla and Thierry Robin, the former CEO and Head of Sales of the OYSTER funds range respectively, will act as investment advisor and promoter to the Prosper Stars & Stripes fund. The fund will use a long/short equity strategy and will be managed by hedge fund firm ICAP out of Denver, Colarado, replicating a strategy that the firm has been using for its flagship fund for the past seven years. It will soon be registered in Switzerland with institutional clients the main target. Commenting on the new fund a spokesperson for Prosper was quoted as saying: “In the current challenging market environment, Prosper Stars & Stripes represents a timely opportunity to capture equity markets’ upward potential while keeping a safety cushion in case of turbulence.”