Hedge fund technology vendor Novus Partners appears to be playing a key role in the launch of an alternative-investment business.The 10-year-old firm, which sells risk-analysis software to about 200 fund managers and investors, is working with an undisclosed partner to build a so-called managed-account platform that would employ Novus’ technology, sources said. The new entity already has tentative commitments for up to $1 billion, which...