The alternative investment group of Harris Associates has announced the launch of a new offshore fund that is designed for non-US and qualified tax-exempt US investors. Funded with $25 million in initial capital, the offshore fund offers US dollar, Euro, and Yen classes of shares.
'Due to the high foreign demand for alternative investments, and in response to investor need for a multi-manager, relative value strategy, we decided to launch a complement to our successful domestic product,' explained Anita Nagler, Managing Director of the Alternative and International Investing Group.
She added: 'This is an opportune time for qualified tax-exempt US and non-US investors to re-evaluate their portfolio strategies, and consider the diversification potential offered by alternative investments.
Harris Associates is a Chicago-based investment management firm founded in 1976, providing alternative investment products to qualified investors. In addition the company manages domestic and international separate accounts for institutional and high net worth investors, and has assets under management in excess of $16 billion.
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