Hartford, Conn. – Locally based The Hutensky Group formed HRI Fund LLC, a fund to invest with other financing sources in $200 million of shopping centers with turnaround potential. The Chicago-based John D. and Catherine T. MacArthur Foundation also will invest with Hutensky.

HRI Fund will seek to acquire retail properties with vacancy, operating deficiencies and/or expansion opportunities in markets east of the Mississippi River. In addition, the fund will invest in joint ventures with owners of properties that meet its criteria.