Illegal Activity
none
Blackmail
none
Date
Unknown
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document is a legal filing describing the terms and conditions of the BrightGroup Access Fund Partnership Agreement. It outlines potential risks, conflicts of interest, and compensation structures associated with investing in the fund.
Metadata
- Subject
- BrightGroup Access Fund Partnership Agreement
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0099248, SDNY_GM_00245432
- Date
- —
Relationships 3
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| General Partner | business | Investment Manager | The Investment Manager will be entitled to receive an ongoing investor servicing fee from Glendower for services performed in respect of the Access Fund and its investment in the Underlying Fund based on the total capital commitment of the Access Fund to the Underlying Fund. |
| iCapital Securities, LLC | business | iCapital Funds | iCapital Securities, LLC often receives a placement fee as a result of its placement of certain investors in certain private investment funds available via the iCapital Network ("iCapital Funds"). |
| Access Fund | business | Underlying Fund | The Access Fund invests in the Underlying Fund. |
Notable Quotes 2
Investors in the Access Fund may be required to return amounts distributed to them by the Access Fund to fund the Access Fund's and/or the Underlying Fund's indemnity obligations and other liabilities as well as amounts recalled by the Underlying Fund for reinvestment in accordance with the Underlying Fund LPA, subject to certain exceptions and restrictions set forth in the Partnership Agreement.
The prospect of receiving such compensation creates an incentive for iCapital Securities, LLC to place investors in the iCapital Funds from which it receives a placement fee or may in the future receive such a fee over other investment vehicles from which it does not receive a placement fee.
Red Flags 2
- Potential conflicts of interest for iCapital Securities, LLC and the Investment Manager due to compensation structures.
- Risk of loss and delay in liquidating securities or assets distributed in-kind to Limited Partners.
Financial Information
Assets:
- securities
- other assets
Transactions:
- Investors in the Access Fund may be required to return amounts distributed to them by the Access Fund to fund the Access Fund's and/or the Underlying Fund's indemnity obligations and other liabilities as well as amounts recalled by the Underlying Fund for reinvestment in accordance with the Underlying Fund LPA
- Capital contributions to fund the Access Fund's indemnity obligations are outside of a Limited Partner's Subscription.
Legal Compliance
- Investors in the Access Fund may be required to return amounts distributed to them by the Access Fund to fund the Access Fund's and/or the Underlying Fund's indemnity obligations and other liabilities.
- The prospect of receiving such compensation creates an incentive for iCapital Securities, LLC to place investors in the iCapital Funds from which it receives a placement fee or may in the future receive such a fee over other investment vehicles from which it does not receive a placement fee.
- The Investment Manager will be entitled to receive an ongoing investor servicing fee from Glendower for services performed in respect of the Access Fund and its investment in the Underlying Fund based on the total capital commitment of the Access Fund to the Underlying Fund. Such fee will result in the Investment Manager having additional conflicts of interest with respect to the purchase of Interests by
Raw Analysis JSON
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Themes
Financial transactions/money flowLegal matters/litigationBusiness dealings
Organizations 10
BrightGroupGlendower GPiCapital Securities, LLCiCapital NetworkAccess FundUnderlying FundGeneral PartnerInvestment ManagerAdministratorCustodian
Financial Entities 1
iCapital Securities, LLC
Text Analysis
- Tone
- Professional
- Purpose
- To describe the terms and conditions of the Access Fund Partnership Agreement, including indemnification, capital contributions, co-investment opportunities, and compensation.
- Significance
- This document outlines the risks and potential conflicts of interest associated with investing in the Access Fund.
File Info
- File Name
- EFTA01393600.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:12.521392
- DOJ Source
- View on DOJ