The document discusses the financial and tax implications for investors in Private Access Funds managed by iCapital Advisors, LLC. It covers topics such as tax liabilities, illiquidity of investments, economic and market risks, and consequences of default. Investors may need to return distributions to meet fund obligations and may face tax liabilities exceeding cash distributions. The document also highlights risks associated with private equity investments and potential remedies for defaulting on capital contributions.
doj/DataSet10/EFTA01393531.pdf
{"document_type":"financial","document_subtype":"Form ADV Part 2A","key_organizations":["iCapital Advisors, LLC","Private Access Fund","Underlying Fund"]}