The document outlines the financial and tax implications for investors in Private Access Funds managed by iCapital Advisors, LLC. It discusses the potential tax liabilities, the illiquidity of investments, economic and market risks, and the consequences of default on capital contributions. Investors may need to return distributions to meet indemnification obligations and may face tax liabilities exceeding cash distributions. The document also highlights risks associated with economic conditions and the illiquidity of private equity fund investments.
documents/vol00010-efta01364586-pdf.pdf
{"title":"iCapital Advisors, LLC Form ADV Part 2A","document_type":"financial","document_subtype":"Form ADV Part 2A","key_organizations":["iCapital Advisors, LLC","Southern Financial LLC"],"reference_numbers":["DB-SDNY-0055134","SDNY_GM_00201318","EFTA01364586"]}