Krusen Capital Management, investment advisor to a hedge-fund platform, has added Boston-based Windham Capital Management to its roster of hedge fund and private-equity managers.

Windham Capital’s exchange-traded-fund portfolios bring another liquid investment option for cases when clients don’t want to commit assets to funds with long lockup periods, said Charles Krusen, chief executive officer of New York-based Krusen Capital.

“We think Windham, over the last 23 years, has developed some of the most interesting research on risk management and developing techniques for analyzing the marketplace using a daily monitoring process,” Krusen said.

Krusen will offer its clients access to Windham’s management through its LionHedge Windham portfolio. The portfolio features global tactical asset allocation and Windham’s proprietary Investment Risk Cycle, which gauges opportunities by measuring changes in market turbulence and systemic risk through the interactions among asset classes.

Krusen Capital is the SEC-registered investment advisor to a single-manager and multi-manager hedge fund and private equity fund platform. The LionHedge Platform provides high-net-worth investors with access to selected hedge fund and private-equity managers with a minimum investment of $100,000. The low minimum gets investors exposure to funds in which direct investment would require as much as $10 million.

The 25 managers on Krusen Capital’s platform include Paulson & Co., D.E. Shaw & Co. and Brevan Howard Asset Management. Windham is the second manager Krusen Capital has added to provide more-liquid investments; the other is Alpha Capital Management, of Atlanta.

Krusen started his firm in January of 2009 with a single manager and $3.6 million of assets under management; the company now has about $200 million of assets under management. The firm’s mission is to help fill a void in many investors’ portfolios, Krusen said.

“Less than three years ago, we set up a platform to specialize in alternative investments,” he said. “We think they’re under-represented in most client portfolios.”

Many advisors still rely on traditional equity-bond portfolios, but the logic underpinning that formula has eroded over the years, says Krusen. The firm seeks to include on its platform managers that aim to avoid 20% drawdowns.

“We’re big believers in behavioral finance,” explains Krusen. “We believe when there’s a drawdown that approaches 20%, it creates an emotional response.”

Krusen Capital provides clients with due diligence and insight into managers’ strategies, as well as the ability to meet directly with managers, Krusen added.