The document outlines the risks and conflicts of interest associated with investing in Private Access Funds through iCapital Advisors, LLC. It highlights potential issues such as lack of diversification, higher fees, illiquidity, and the risk of losing the entire investment. The document also discusses the structure and management of Private Access Funds, emphasizing that iCapital is not the General Partner or manager of the Underlying Fund and does not control its management strategies. It warns of potential losses due to misconduct by fund managers and the possibility of receiving in-kind distributions that may not be marketable.
doj/DataSet10/EFTA01391290.pdf
{"title":"iCapital Advisors, LLC - Form ADV Part 2A","document_type":"financial","document_subtype":"Form ADV Part 2A","key_organizations":["iCapital Advisors, LLC","BBR Partners"],"reference_numbers":["DB-SDNY-0096128","SDNY_GM_00242312","EFTA01391290"]}