The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing the risks and conflicts of interest associated with investing in Private Access Funds. It highlights potential lack of diversification, higher fees, and lack of information regarding valuations. The document outlines the risks related to the Underlying Fund, including illiquidity, restrictions on transfer, and potential loss of investment. It also discusses the management and operational risks, including the risk of bad judgment or misconduct by the general partner or manager of the Underlying Fund.
documents/vol00010-efta01355126-pdf.pdf
{"document_type":"financial","document_subtype":"Form ADV Part 2A","key_organizations":["iCapital Advisors, LLC","Annandale Capital"],"reference_numbers":["DB-SDNY-0039972","SDNY_GM_00186156","EFTA01355126"]}