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, and lack of information on valuations. It also discusses the structure and risks of Private Access Funds, including their dependence on Underlying Funds, potential for total investment loss, and additional expenses. The document emphasizes that iCapital is not the manager of the Underlying Fund and that investors may face risks from the fund's management. Indemnification clauses and the possibility of in-kind distributions are also covered.
doj/DataSet10/EFTA01391912.pdf
{"title":"iCapital Advisors, LLC Form ADV Part 2A","key_people":["Glenn Warren"],"document_type":"financial","document_subtype":"investment advisory document","key_organizations":["iCapital Advisors, LLC"],"reference_numbers":["DB-SDNY-0097023","SDNY_GM_00243207","EFTA01391912"]}