The document is a Form ADV Part 2A from iCapital Advisors, LLC, related to Private Access Funds and their investments in Underlying Funds, primarily private equity funds. It discusses tax implications, including the need for investors to obtain tax filing extensions and potential tax liabilities exceeding cash distributions. It also highlights the illiquidity of investments, economic and market risks, and consequences of default on capital contributions.
documents/vol00010-efta01354937-pdf.pdf
{"document_type":"financial","document_subtype":"investment advisory document","key_organizations":["iCapital Advisors, LLC","Pacific Life Insurance Co"],"reference_numbers":["DB-SDNY-0039542","SDNY_GM_00185726","EFTA01354937"]}