Platinum Capital Management has launched Platinum Washington Fund LP, a version of its Platinum Washington Fund, for US investors. The move means that the long/short equity fund, whose investment program gained over 30% during 2002, will now be available in the USA to institutional and high net worth investors.
Platinum Washington Fund is managed by Washington Asset Management, and was launched, as an offshore vehicle in September 2002. The Fund parallels the Washington US fund, which, over the past 4 years, has achieved an average annualised return of +24% for offshore investors.
Investment capacity constraints have limited the present availability to less than $150m of new investment into Platinum Washington Fund. The Fund will be among the first Platinum products offered by PCM’s recently opened New York affiliate run by Eric L. Munson.
Minimum investment in the Platinum Washington Fund LP is $250,000.