esÂ·trange. tr.v. esÂ·tranged, esÂ·trangÂ·ing, esÂ·trangÂ·es. 1. To make hostile, unsympathetic, or indifferent; alienate: The months of bickering estranged her from her family. 2.
Hedge fund. A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques.
Hedge funds are generally distinct from mutual funds as their use of leverage is not capped by regulators and distinct from private equity funds as the majority of hedge funds invest in relatively liquid assets.