AIP Macro Registered Fund P registers $1 billion of shares

By Toni Weeks

San Diego, March 27 - AIP Macro Registered Fund P has registered its initial offering of shares in an N-2 filing with the Securities and Exchange Commission.

The fund registered 1 million shares at a price of $1,000 each for proceeds of $1 billion.

The non-diversified, closed-end management investment company intends to commence operations on May 1, the initial closing date for the offering.

The fund seeks long-term capital appreciation by investing substantially all of its assets in the Morgan Stanley Global Macro Fund A, a "master fund" with the same investment objective and strategies. The master fund invests substantially all of its assets in hedge funds that are managed by a select group of alternative investment managers employing global macro investment strategies.

Mustafa A. Jama, Mark L.W. van der Zwan, Lawrence Berner, Paresh Bhatt, Jose F. Gonzalez-Heres, Jarrod Quigley and Eric Stampfel are the portfolio managers.

Investors are subject to a sales load of 3% for purchases of less than $250,000, 2% for purchases of $250,000 to $499,999, 1.5% for purchases of $500,000 to $999,999 and 1% for purchases of $1 million to $4,999,999. Purchases over $5 million do not incur a sales load.

The management fee is 1.25% per year, which correlates to a monthly fee of 0.1042%. The annual net expenses are expected to be 4.45%.

West Conshohocken, Pa.-based Morgan Stanley AIP GP LP will be the investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.