Illegal Activity
suspicious
Blackmail
none
Date
2018-03-30
Document Type
brochure
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document is Form ADV Part 2A and 2B for iCapital Advisors, LLC, providing information about the firm's business practices, fees, investment strategies, and potential conflicts of interest to prospective investors. It details the firm's advisory services, affiliations, and risk factors associated with investing in the Funds it manages.
Metadata
- Subject
- Form ADV Part 2A and 2B: iCapital Advisors, LLC
- Sender
- —
- Recipients
- —
- Document ID
- —
- Date
- 2018-03-30
Illegal Activity
- Severity
- suspicious
- Description
- The document describes potential conflicts of interest and risks associated with investments, but does not contain clear evidence of illegal activity being committed, planned, or discussed by the sender/participants. The potential for overvaluation of assets to increase fees could be considered suspicious.
- Content Type
- first_hand
Relationships 13
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| iCapital Advisors, LLC | Subsidiary | Institutional Capital Network, Inc. | iCapital Advisors, LLC is a wholly-owned subsidiary of Institutional Capital Network, Inc. |
| iCapital Securities, LLC | Subsidiary | Institutional Capital Network, Inc. | iCapital Securities, LLC is a wholly-owned subsidiary of Institutional Capital Network, Inc. |
| iCapital Advisors, LLC | Affiliate | iCapital Securities, LLC | iCapital Securities serves as the Firm's private placement agent in respect of many Funds advised by iCapital. |
| iCapital Advisors, LLC | Service Provider | Dynasty Securities, LLC | iCapital has engaged Dynasty Securities, LLC as a service provider for certain Funds. |
| iCapital Advisors, LLC | Service Provider | Castle Hall Alternatives Inc. | iCapital has engaged Castle Hall Alternatives Inc. to assist in hedge fund due diligence. |
| iCapital Advisors, LLC | Service Provider | Gen II Fund Services, LLC | Gen II provides fund administration services to the Private Access Funds. |
| iCapital Advisors, LLC | Investor | BNY Capital Corporation | BNY holds a minority ownership interest in Institutional Capital Network, Inc., the parent company of iCapital. |
| iCapital Advisors, LLC | Investor | BlackRock, Inc. | Affiliates of BlackRock, Inc. have invested in Institutional Capital Network, Inc., the parent company of iCapital. |
| iCapital Advisors, LLC | Investor | Credit Suisse Group AG | Affiliates of Credit Suisse Group AG have invested in Institutional Capital Network, Inc., the parent company of iCapital. |
| iCapital Advisors, LLC | Investor | Morgan Stanley Smith Barney | Affiliates of Morgan Stanley Smith Barney have made equity investments in Institutional Capital Network, Inc. |
| iCapital Advisors, LLC | Investor | UBS Financial Services | UBS Financial Services has made equity investments in Institutional Capital Network, Inc. |
| iCapital Advisors, LLC | Service Agreement | Fidelity Brokerage Services LLC | iCapital has entered into collaboration and services agreements with Fidelity Brokerage Services LLC to compensate Fidelity for providing certain administrative services in respect of investors who custody their investment in one or more iCapital Funds with Fidelity. |
| iCapital Advisors, LLC | Service Agreement | National Financial Services LLC | iCapital has entered into collaboration and services agreements with National Financial Services LLC to compensate Fidelity for providing certain administrative services in respect of investors who custody their investment in one or more iCapital Funds with Fidelity. |
Red Flags 4
- Multiple potential conflicts of interest due to relationships with affiliated entities and investors.
- Reliance on Underlying Fund Managers or Sub-Advisers for valuation of assets, which could lead to overvaluation and increased fees.
- The possibility of substantial penalties for investors who fail to make required capital contributions.
- The potential for cross-series liabilities in certain Funds established as a single series of a series limited partnership.
Financial Information
Amounts:$100,000$250,000$4,014,735,581.86$12.5 billion$250 billion
Assets:
- Private equity funds
- Hedge funds
- Equity securities
- Debt securities
- Real estate
- Real estate loans
- Cash
- Cash equivalents
Transactions:
- Management fee charged quarterly in advance, typically ranging between 0.25% to 1.25% per annum.
- Investor servicing fee from the Underlying Manager typically charged as a percentage of the Fund's aggregate capital contributions.
- Management fee charged by Underlying Funds, generally ranging from 1% - 2% on an annual basis.
- Incentive compensation arrangement charged by Underlying Funds, generally ranging from 10% - 20% of the capital appreciation in the Underlying Fund.
- Fees paid to Dynasty typically ranging from .075% - .25% in relation to investors who are clients of Dynasty's network of financial advisory firms.
- Placement fee received by iCapital Securities, LLC as a result of its placement of certain investors in certain Private Access Funds. Such placement fee is typically a percentage of the aggregate capital commitments of an iCapital Private Access Fund to its respective underlying fund.
Public Knowledge
- Context
- Form ADV filings are publicly available on the SEC's website.
- Likely Public
- True
Legal Compliance
- Potential conflicts of interest arising from iCapital's relationships with affiliated entities (iCapital Securities, Gen II, BNY Capital Corporation) and investors (BlackRock, Credit Suisse, Morgan Stanley, UBS).
- Potential conflicts of interest related to compensation from Underlying Fund Managers and fees paid by Brokerage Limited Partners.
- Potential conflicts of interest related to the valuation of Fund assets.
- Potential conflicts of interest related to educational programs offered by iCapital.
- Cybersecurity risks affecting portfolio companies and iCapital itself.
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealingsLegal matters/litigationCompliance/regulatory
Organizations 97
Pacific Life Insurance CoiCapital Advisors, LLCInstitutional Capital Network, Inc.SECFinancial Industry Regulatory AuthorityiCapital Securities, LLCiCapital Carlyle Property Investors Access Fund, L.P.iCapital-SV7, L.P.iCapital-SLP V Access Fund, L.P.iCapital-MSD Private Credit Opportunity II Access Fund, L.P.iCapital-BTAS IV Access Fund, L.P.BIAS IV Private Investors (U.S.), L.P.Invesco Venture Alpha Feeder Fund, L.P.Private Equity Select Master Trust IPrivate Equity Global Select Master FundPrivate Equity Global Select Master Fund IIPrivate Equity Global Select Master Fund IIIPrivate Equity Global Select Master Fund IVPrivate Equity Global Select Master Fund VPrivate Equity Global Select Fund VI (U.S.), L.P.Private Equity Global Select Fund VII (U.S.), L.P.Private Equity Asia Select Master FundPrivate Equity Asia Select Master Fund IIPrivate Equity Asia Select Fund III (U.S.), L.P.Private Equity Asia Select Fund III (International), L.P.Private Equity Asia Select Fund IV (U.S.), L.P.Private Equity Asia Select Fund IV (International), L.P.Opportunistic Real Estate and Infrastructure Select Fund (International) L.P.Opportunistic Real Estate and Infrastructure Select Fund (U.S.), L.P.Private Equity & Credit Opportunities Select Fund (U.S.), L.P.Private Equity & Credit Opportunities Select Fund (International), L.P.Energy Select Fund (U.S.), L.P.Energy Select Fund (International), L.P.Credit Opportunities Access Fund (International), L.P.Secondary Opportunities Fund II Private Client Feeder Fund.KKR Credit Select Access Fund (U.S.), L.P.Dislocation Opportunities Access Fund (U.S.)Dislocation Opportunities Access Fund (International)Secondary Opportunities Fund III Private Client Feeder Fund (U.S.), L.P.Apollo Credit Select Access Fund (International), L.P.BEP Private Investors II GP, Ltd.BEP Private Investors II (International), L.P.BIAS 2015 Private Investors (U.S.), L.P.BIAS 2015 Private Investors (International), L.P.KKR Credit Select Access Fund II (U.S.), L.P.Vista Software Select Access Fund (U.S.), L.P.Private Equity Global Select II SICAR, S.C.A.Private Equity Global Select IV SICAR, S.C.A.Private Equity Global Select V S.C.A, SICARPrivate Equity Asia Select III S.C.A., SICARPrivate Equity & Credit Opportunities SelectiCapital-OrbiMed Royalty Opportunities II Access Fund, L.P.iCapital-KVV Access Fund, L.P.iCapital-TEP Access Fund, L.P.iCapital-TEP Non-U.S. Access FundStructured Credit Recovery Access Fund, L.P.iCapital-2015 Vintage Access FundiCapital-ApolloiCapital-Warburg Pincus Private Equity XII Access Fund, L.P.iCapital-KV Seed C Access Fund, L.P.iCapital-SH Access Fund, L.P.iCapital- HG Vora Access Fund, L.P.Royalty Investment Fund Limited PartnershipiCapital Private Credit Access Fund, L.P.iCapital Arbitrage FundiCapital Global Access Partnership II, L.P.Horizon Opportunities FundiCapital MLP FundInternational Value Equity FundInternational Growth Equity FundDynasty Securities, LLCCastle Hall Alternatives Inc.Gen II Fund Services, LLCGen II Hedge Fund ServicesBNY Capital CorporationBlackRock, Inc.Credit Suisse Group AGMorgan Stanley Smith BarneyUBS Financial ServicesFirst Avenue PartnersWillis Stein & PartnersDonaldson, Lufkin & Jenrette Securities CorporationMerrill LynchKidder, Peabody & Co.The Teagle FoundationCredit Suisse Securities (USA) LLCSalomon BrothersFir Tree PartnersEaton PartnersEarnings.comThomson FinancialPREANCREIFAtlas AdvisorsNewhouse NewspapersFidelity Brokerage Services LLCNational Financial Services LLC
Locations 7
New York, NYUSADelawareChicagoLondonNorth AmericaBoston
Financial Entities 6
Pacific Life Insurance CoDeutsche BankBlackRock, Inc.Credit Suisse Group AGMorgan Stanley Smith BarneyUBS Financial Services
Text Analysis
- Tone
- Informative, formal, regulatory
- Purpose
- To provide information about the qualifications, business practices, fees, and potential conflicts of interest of iCapital Advisors, LLC, as required by the SEC.
- Significance
- This document is a regulatory filing (Form ADV Part 2A and 2B) that provides important information to potential investors about iCapital Advisors, LLC. It outlines the firm's services, fees, investment strategies, risks, and potential conflicts of interest.
File Info
- File Name
- EFTA01396261.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:55.307206
- DOJ Source
- View on DOJ