The document is a Form ADV Part 2A from iCapital Advisors, LLC, related to Georgetown University Endowment. It discusses various financial and tax implications for investors in Private Access Funds, including tax liabilities, illiquidity of investments, economic and market risks, and consequences of default. It highlights the need for investors to obtain tax filing extensions and the potential for tax-exempt investors to recognize unrelated business taxable income (UBTI).
doj/DataSet10/EFTA01389167.pdf
{"document_type":"financial","document_subtype":"investment advisory document","key_organizations":["iCapital Advisors, LLC","Georgetown University Endowment"],"reference_numbers":["DB-SDNY-0093520","SDNY_GM_00239704","EFTA01389167"]}