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September 09, 2002 at 08:00 PM
LONDON (HedgeWorld.com)-Platinum Capital Management Ltd. launched the Platinum Washington Fund Ltd., an offshore long/short U.S. equity fund.
The fund was launched Sept. 2 with seed money of US$2 million and expected commitments of US$20 million to US$30 million, said Craig Reeves, managing director for Platinum. Demand has been strong, based on the investment success of a U.S. onshore fund managed by the same adviser, Washington Asset Management, Washington.
That fund is reporting strong double-digit returns for the first seven months of the year, according to Platinum, spurring interest in the offshore version. The offshore fund will be sold directly with a minimum of US$150,000 or 150,000 euro and through Platinum’s recently launched Platinum Wealth Management Bond with a minimum of US$25,000 or 25,000 euro.
