iCapital Launches Private Equity Fund with $16.25M Raised

The fund targets accredited investors, leveraging Rockefeller Financial's network for its multi-million-dollar raise.

November 27, 2024

iCapital's New Offering Expands Access to Private Equity

iCapital - NHF V Access Fund, L.P., a limited partnership newly established in 2023, has successfully raised $16.25 million as part of its latest private equity initiative. The fund, structured to cater exclusively to accredited investors, is based in New York City and operates under the jurisdiction of Delaware.

As a pooled investment vehicle, the fund aims to streamline entry into private equity opportunities typically reserved for institutional players. The offering is being conducted under the federal exemption provided by Regulation D, specifically Rule 506(b), allowing the issuer to bypass SEC registration requirements for securities sold to qualified participants.

Focused Structure and Key Partnerships

This limited partnership is managed by iCapital PE GP, LLC, which oversees operations as the fund's general partner. Prominent financial services firm Rockefeller Financial LLC serves as a key broker, facilitating the fund's placement and distribution efforts. Investors benefit from a seamless entry point into private equity investments through this partnership, with no minimum investment thresholds required.

The regulatory filing reveals that iCapital is leveraging its extensive network and financial infrastructure to achieve broad solicitation across all 50 U.S. states. The fund's total offering amount is unspecified, allowing for potential future expansions. At present, no additional commissions or finder’s fees have been allocated, underscoring an efficient cost structure.

Financial Transparency and Investor Landscape

The filing also notes that the issuer has adopted a flexible approach by declining to disclose its revenue or net asset value. This aligns with the private equity sector's standard practice of maintaining confidentiality while ensuring compliance with all regulatory requirements.

A total of 59 investors have contributed to the fund, reflecting strong market confidence in iCapital's financial management capabilities. Notably, the fund excludes participation from non-accredited investors, ensuring adherence to strict federal standards.

Broader Implications for Accredited Investors

With this new initiative, iCapital underscores its commitment to democratizing access to alternative investments while adhering to regulatory frameworks. The fund's alignment with Rockefeller Financial highlights a trend of leveraging established financial institutions to streamline investor access to traditionally exclusive opportunities.