NEW YORK — Berkshire Hathaway Inc. Chief Executive Officer and Berkshire Hathaw founder Warren Buffett and his wife, Alice Schwabo, are set to make an investment of more than $100bn in an investment fund called Berkshire Hathway Global Growth, according to people familiar with the matter.
The new fund, which has not been publicly announced, will focus on emerging markets and is expected to be named in the coming months, said the people, who asked not to be identified discussing private transactions.
The investment fund will include investments in technology companies, hedge funds and other emerging markets.
Buffett and Schwaba are the largest investors in Berkshire, which is the world’s largest privately held company, with $15.3 trillion in assets.
In addition to their Berkshire holdings, Buffett and Schwarzman have an ownership stake in more than 50 other companies.
Buffett’s Berkshire Hathafield Global Growth investment is the largest in the U.S. since the S&P 500 was established in 1929.
The fund will use assets held in more traditional asset-backed funds, said a person familiar with its structure.
The portfolio has a mix of emerging market equities, including China, the U, Japan, Russia and Brazil.
The people asked not be identified because they weren’t authorized to speak publicly.
The investors will receive a tax-free cash bonus equal to 10% of their investment, based on the number of shares they own, the person said.
The funds’ goal is to create new growth and value opportunities for companies in emerging markets, including through investments in high-growth technology companies.
The two have been partners since their early days at Berkshire Hathash in the 1970s.
Buffett also has a stake in a small startup called iShares Global Growth and has invested in other companies that have gone public, including Amazon.com Inc. and Snapchat Inc. The Schwabs, who are known for their philanthropy, have a net worth of $4.6 billion, according the latest Forbes list.
Buffett said in 2016 that his company’s share price would double if the stock market were to increase, based in part on an increased market value of its technology companies and a potential increase in sales from technology.