Peachtree Alternative Strategies Fund Completes Tender Offer for Institutional Shares

Peachtree Fund wraps up its tender offer, repurchasing over 40,000 shares, totaling over $4.3 million in payments.

September 13, 2024

Tender Offer Overview and Shareholder Participation:

The tender offer, originally filed in April 2024, allowed the fund to purchase up to 10% of its net asset value in institutional shares. Shareholders interested in tendering their shares had until May 14, 2024, to submit their requests. The fund successfully completed the process with 40,722.72 shares validly tendered and accepted. This move enabled the fund to efficiently manage its share structure and meet its stated objectives.

Of the participants, eight shareholders tendered all their shares and received partial payments in line with the terms of the offer. Meanwhile, 19 shareholders chose to tender only a portion of their shares and were fully paid for the shares they relinquished. The valuation date for the tendered shares was set as June 28, 2024, ensuring a fair assessment of their value at the time of repurchase.

On August 1, 2024, Peachtree Fund made a substantial payment of approximately $4.3 million to the 27 participating shareholders. This amount represented 95% of the value of the tendered shares, adhering to the offer’s terms and ensuring timely compensation. The remaining 5% of the shares' value will be paid within 60 days following the conclusion of the fund's next annual audit, which is expected to be completed by June 2025. This staged payment approach ensures that shareholders receive the fair value of their shares based on the fund's financial performance and audit outcomes.

Finalizing the Offer

The filing of the final amendment on September 13, 2024, by Ford Donohue, the fund's President and Principal Executive Officer, marked the conclusion of this tender offer process. The completion of this tender offer aligns with Peachtree Alternative Strategies Fund's strategic objectives and provides shareholders with an opportunity to liquidate their shares based on their investment goals.