Maverick Capital, a $10.5 billion hedge fund, is jumping on one of the hottest trends in investing

Maverick Capital is starting two quant funds, according to documents seen by Business Insider.

The Maverick Fundamental Quant Funds will accept money starting January 1, 2018 and will close once assets reach $1 billion in each, the documents show. The funds will prioritize existing Maverick investors.

Traditional stock pickers have been venturing into quant strategies over the past few years. And quant strategies have been hoovering up assets.

"Data science and quantitative analysis continue to hold the attention of the fundamental managers," Carlos Meija, managing partner at recruiting firm Options Group, said in a recent report. "On the one hand, they are eager to explore the ways in which big data can fuel idea generation and position management; and on the other hand, they are worried about how to compete with quantitative/systematic investors and HFT firms. As a result, equity hedge funds are hiring data strategists, scientists and engineers."

Dallas-based Maverick's flagship fund, meanwhile, had made no money as of mid-year, Business Insider earlier reported.

Dallas-based Maverick, which as of mid-year managed about $10.5 billion firmwide, primarily blamed its short book.