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 issues such as lack of diversification, higher fees, illiquidity, and the possibility of losing the entire investment. The document also notes that iCapital is not the General Partner or manager of the Underlying Fund and outlines the risks of mismanagement by the fund's general partner or manager. It mentions indemnification provisions and the potential for in-kind distributions that may not be marketable.
doj/DataSet10/EFTA01389588.pdf
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