Ascalon Capital Managers has established a hedge fund boutique with three former Macquarie Funds Group executives.

Helix Partners specialises in global equities using a quantitative process that is developed by former Macquarie Funds Group quantitative strategies executives, Brandt Leahy, Justin Webb and Matthew Perone.

These three executives also worked separately at Citadel Investment Group and Delaware Investments and all three have advanced academic qualifications at Harvard University.

Webb said the Helix quantitative investment model has been under development for many years.

"Having access to Ascalon's experience and knowledge means we can focus on the business of investing and research," he said.

"The time we have spent with one of Ascalon's existing boutiques, H3 Global Advisors, has been very helpful."

Nelson Lam, head of investments at Ascalon, said Helix Partners fulfils as asset class gap and style that adds diversity to Ascalon's portfolio of boutiques.

"This transaction sends a clear signal that Ascalon is actively reviewing opportunities and is able to make decisions in a relatively short time frame," he said.

Westpac bought the remaining 50 per cent stake in Ascalon to become whole owners in the firm last week.