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From Precy Dumlao, Opalesque Asia:

After almost two years of having closed all its funds to new investors, the Managing Partner of Irvine, California-based Pabrai Investment Funds, Mohnish Pabrai, re-opened the PIF3 fund to new money from existing or new investors in August 1, 2012, industry sources told Opalesque.

Mohnish Pabrai is an Indian-American businessman, investor and philanthropist and Pabrai Investment Funds is a family of hedge funds inspired by Buffett Partnerships. Pabrai wrote to Warren Buffett in the late 1990s and offered to work for him for free. Buffet declined, so Prabai launched his own funds. The fund manager has high regards for Warren Buffett and admits that his investment style is copied from Buffett and others. He has written a book on his investing style: "The Dhandho Investor: The Low - Risk Value Method to High Returns". In June 2007, he made headlines by bidding US$650,100 with Guy Spier for a charity lunch with Warren Buffett (see a 2010 Opalesque Exclusive interview with Guy Spier here).

Since its re-opening, the PIF3 has attracted some $15.8m from existing and new partners as at end Septemb......................

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