-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 D45QXAFkfGb0wr1V2HWg9Nfi4sTgzwY0ZImOgFoa6Q1xP2kjrHjZG7RF4awqh62U
 LExqpeQpLTh1OBNrKdpAVA==

<SEC-DOCUMENT>0001395800-10-000001.txt : 20100310
<SEC-HEADER>0001395800-10-000001.hdr.sgml : 20100310
<ACCEPTANCE-DATETIME>20100310170933
ACCESSION NUMBER:		0001395800-10-000001
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100310
DATE AS OF CHANGE:		20100310
EFFECTIVENESS DATE:		20100310

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Horizon Multi Strategy Offshore Fund Ltd
		CENTRAL INDEX KEY:			0001395800
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-101873
		FILM NUMBER:		10671338

	BUSINESS ADDRESS:	
		STREET 1:		C/O WALKERS SPV LTD, WALKER HOUSE
		STREET 2:		87 MARY STREET, GEORGE TOWN
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9002
		BUSINESS PHONE:		646-495-7338

	MAIL ADDRESS:	
		STREET 1:		4779 BOSTON POST RD. #17
		CITY:			PELHAM MANOR
		STATE:			NY
		ZIP:			10803
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001395800</cik>
        <entityName>Horizon Multi Strategy Offshore Fund Ltd</entityName>
        <issuerAddress>
            <street1>C/O WALKERS SPV LTD, WALKER HOUSE</street1>
            <street2>87 MARY STREET, GEORGE TOWN</street2>
            <city>GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-9002</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>646-495-7338</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands exempted company limited by shares</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Quigley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>411 Theodore Fremd Ave.</street1>
                <city>Rye</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10580</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of the Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Antoine</firstName>
                <lastName>Bastian</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Genesis Fund Services Limited</street1>
                <street2>308 East Bay Street, 4th Floor</street2>
                <city>Nassau</city>
                <stateOrCountry>C5</stateOrCountry>
                <zipCode>78073</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Shonalee</firstName>
                <middleName>Lavern</middleName>
                <lastName>Gray-Bain</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Genesis Fund Services Limited</street1>
                <street2>308 East Bay Street, 4th Floor</street2>
                <city>Nassau</city>
                <stateOrCountry>C5</stateOrCountry>
                <zipCode>78073</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>$5,000,001 - $25,000,000</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001395800-09-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Credit Suisse Securities (USA) LLC</recipientName>
                <recipientCRDNumber>816</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>11 Madison Avenue</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10010</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>21687194</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>33</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Horizon Multi Strategy Offshore Fund Ltd</issuerName>
                <signatureName>Kevin Quigley</signatureName>
                <nameOfSigner>Kevin Quigley</nameOfSigner>
                <signatureTitle>Chief Executive Officer of the Investment Manager</signatureTitle>
                <signatureDate>2010-03-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----