Algonquin Capital Corp. is wading into the nascent market for liquid alternatives in Canada, launching a hedge fund-like mutual fund that’s available to retail investors. The firm is planning to raise as much as C$3 billion ($2.3 billion) over the next three to five years for the credit fund, adding to its C$450 million in assets under management, partner Brian D’Costa said. “We want to be a true active manager, which means having the ability to do security selection, run concentrated positions and using leverage and shorting securities,” D’Costa said in an interview at Algonquin’s Toronto-based offices.