More likely because, when you are raising capital from various sources across the world (e.g. a pension fund in the US, a wealthy entrepreneur from London and a

More likely because, when you are raising capital from various sources across the world (e.g. a pension fund in the US, a wealthy entrepreneur from London and a family office from Monaco) you don't want to impose unnecessary US taxes on them, just because the fund manager lives in the US. They will pay their tax in their own holding structure, where (and if) it is due.