The document is a Form ADV Part 2A from iCapital Advisors, LLC, discussing the risks and conflicts of interest associated with investing in Private Access Funds. It highlights potential issues such as lack of diversification, higher fees, and lack of information on valuations. The document outlines the structure and risks of Private Access Funds, including their dependence on Underlying Funds, potential for total investment loss, and additional expenses. It also mentions the lack of control iCapital has over the Underlying Fund's management and the potential for misconduct by fund managers.
documents/vol00010-efta01354070-pdf.pdf
{"key_people":["Henry Nicholas"],"document_type":"financial","document_subtype":"Form ADV Part 2A","key_organizations":["iCapital Advisors, LLC"],"reference_numbers":["GLDUS143"]}