Traxis Emerging Markets Fund Goes Offshore

Mar 5 2010 | 3:26pm ET

Traxis Partners has set up an offshore version of its two-year old emerging markets fund.

The New York-based firm, headed by former Morgan Stanley chief strategist Barton Biggs, launched the new fund last month. Traxis, in which Morgan Stanley owns a minority stake, created the fund to satisfy demands from overseas investors, according to HedgeFund.net.

The new fund, which manages $28 million, follows a long/short strategy focusing on Asian, Eastern European and Latin American equities. It employs a sector-specific investing strategy like its $170 million onshore predecessor. Traxis has not put a figure on how large the new fund can grow to be.

The emerging markets vehicle charges 1.5% for management and 20% for performance. Unsurprsingly, Morgan Stanley is its prime broker, and it features IFS as third-party administrator.

All told, Traxis manages $1.2 billion.


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