Lazard Multi-Strategy 1099 Fund registers $100 million of shares

By Toni Weeks

San Diego, Oct. 20 - Lazard Multi-Strategy 1099 Fund registered $100 million of its common shares, according to an N-2 filed with the Securities and Exchange Commission.

The fund's investment adviser is New York-based Lazard Alternatives, LLC. The portfolio managers are Christopher Boyatt, Christian Frei and Chris Heasman.

The fund's investment objective is to achieve long-term capital appreciation by investing substantially all of its assets in hedge funds and other similar investment vehicles. The adviser expects to invest the fund's assets in funds that are predominately organized outside of the United States.

The fund expects to offer shares on a continuous basis. The minimum initial investment is $25,000, with a minimum additional investment of $10,000.

The net asset value will be calculated on the last day of each month.

Investors may be charged a sales load of up to 3% of the amount they invest. The specific sales load amount is not fixed and will be determined by the investor and its broker or dealer.

The fund expects to make quarterly offers to repurchase outstanding shares from shareholders.

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