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Two top executives at Kinetics Asset Management, which oversees the Kinetics Funds group, have left the firm to start a new investment advisory firm that will offer alternative investments.

Steven Samson, Kinetics’ former CEO and Lee Schultheis, the firm’s former COO, will start a new company called Alternative Investment Partners in Chappaqua, NY.

Alternative Investment Partners registered on Tuesday an open-end mutual fund that will be known as the Alpha Strategies I Fund and will use investment techniques similar to those of a hedge fund. The product will be the firm’s flagship fund. It will be the first in a series of products expected to launch later.

The Alpha Strategies fund will invest directly in securities, as opposed to operating like a hedge fund of funds that invests in other hedge funds. The product carries a minimum investment of $25,000.

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