Illegal Activity
none
Blackmail
none
Date
2018-03-30
Document Type
Form ADV Part 2A and 2B (Brochure and Brochure Supplement)
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:41
Summary
This document is iCapital Advisors, LLC's Form ADV Part 2A and 2B, providing information about the firm's business practices, fees, and potential conflicts of interest to prospective investors. It outlines the services offered, the backgrounds of key personnel, and various risk factors associated with investing in the Funds managed by iCapital.
Metadata
- Subject
- iCapital Advisors, LLC Form ADV Part 2A and 2B
- Sender
- —
- Recipients
- —
- Document ID
- GLDUS127
- Date
- 2018-03-30
Relationships 10
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| iCapital Advisors, LLC | Wholly-owned subsidiary | Institutional Capital Network, Inc. | iCapital Advisors, LLC is wholly-owned by Institutional Capital Network, Inc. |
| iCapital Securities, LLC | Wholly-owned subsidiary | Institutional Capital Network, Inc. | iCapital Securities, LLC is a wholly-owned subsidiary of Institutional Capital Network, Inc. |
| iCapital Advisors, LLC | Affiliated Broker-Dealer | iCapital Securities, LLC | iCapital Securities, LLC is an affiliated broker-dealer of iCapital Advisors, LLC. |
| Gen II Fund Services, LLC and Gen II Hedge Fund Services | Fund Administrator | Institutional Capital Network, Inc. | Certain Principals of Gen II are minority owners of Institutional Capital Network, Inc., the parent company of iCapital. Gen II provides fund administration services to the Private Access Funds. |
| BNY Capital Corporation | Minority Ownership | Institutional Capital Network, Inc. | BNY holds a minority ownership interest in Institutional Capital Network, Inc., the parent company of iCapital. |
| BlackRock, Inc. | Investor | Institutional Capital Network, Inc. | Affiliates of BlackRock, Inc. have invested in Institutional Capital Network, Inc., the parent company of iCapital. |
| Credit Suisse Group AG | Investor | Institutional Capital Network, Inc. | Affiliates of Credit Suisse Group AG have invested in Institutional Capital Network, Inc., the parent company of iCapital. |
| Morgan Stanley Smith Barney | Equity Investment | Institutional Capital Network, Inc. | Affiliates of Morgan Stanley Smith Barney have made equity investments in Institutional Capital Network, Inc. |
| UBS Financial Services | Equity Investment | Institutional Capital Network, Inc. | Affiliates of UBS Financial Services have made equity investments in Institutional Capital Network, Inc. |
| iCapital Advisors, LLC | Collaboration and Services Agreements | Fidelity Brokerage Services LLC and National Financial Services LLC | iCapital has entered into collaboration and services agreements with Fidelity Brokerage Services LLC and National Financial Services LLC pursuant to which the iCapital compensates Fidelity for providing certain administrative services in respect of investors who custody their investment in one or more iCapital Funds with Fidelity. |
Notable Quotes 3
Since iCapital does not provide individualized advice to Investors, Investors should consider whether a particular Fund meets their investment objectives and risk tolerance prior to investing.
Investing in securities involves risk of loss that Investors should be prepared to bear.
Employees must at all times place the interests of the client first.
Red Flags 2
- The document highlights several potential conflicts of interest, particularly those arising from affiliated entities and equity investors. These conflicts could influence investment decisions and potentially disadvantage investors.
- The reliance on estimates provided by Underlying Fund Managers or Sub-Advisers for valuation purposes presents a conflict of interest, especially if fees are based on the value of the Fund's investments.
Financial Information
Amounts:$100,000$250,000$4,014,735,581.860.25%1.25%1% - 20%.075% - .25%$12.5 billion$250 billion
Assets:
- Discretionary assets under management: $4,014,735,581.86 (as of December 31, 2017, or September 30, 2017 for certain Funds)
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.
- Incentive compensation arrangement, which generally ranges from 10% - 20% of the capital appreciation in the Underlying Funds that are private equity funds, on an annual basis, subject to or preferred return and general partner catch-up.
- Fees paid to Dynasty Securities, LLC typically ranging from .075% - .25% in relation to investors who are clients of Dynasty's network of financial advisory firms.
- Placement fee paid to iCapital Securities, LLC as a result of its placement of certain investors in certain Private Access Funds, typically a percentage of the aggregate capital commitments of an iCapital Private Access Fund to its respective underlying fund.
Public Knowledge
- Context
- Information contained in Form ADV filings is generally available to the public.
- Likely Public
- True
Legal Compliance
- Potential conflicts of interest arising from affiliated entities (iCapital Securities, LLC, Gen II Fund Services, LLC, BNY Capital Corporation) and equity investors (BlackRock, Credit Suisse, Morgan Stanley, UBS).
- Conflicts of interest related to compensation from Underlying Fund Managers and fees paid by Brokerage Limited Partners.
- Conflict of interest in determining valuations if the applicable Fund charges its fees based on the value of the Fund's investments, including any performance-based compensation charged by such Fund.
- Potential conflict of interest because the offering of educational programs may incentivize the advisers that participate in such programming to recommend iCapital and interests in iCapital Private Access Funds over a manager or administrative agent who has not provided such educational opportunities.
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealingsLegal matters/litigationCommunications/correspondenceEmployment/staffingPolitical connections/influence
Organizations 102
iCapital Advisors, LLCiCapital Securities, LLCInstitutional Capital Network, Inc.Annandale CapitalU.S. House Committee on Oversight and AccountabilityUnited States Securities and Exchange Commission (SEC)Financial Industry Regulatory Authority (FINRA)iCapital 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 Growth Equity FundInternational Value Equity FundDeutsche BankDynasty Securities, LLCCastle Hall Alternatives Inc.BlackRock, Inc.Credit Suisse Group AGMorgan Stanley Smith BarneyUBS Financial ServicesGen II Fund Services, LLCGen II Hedge Fund ServicesBNY Capital CorporationFidelity Brokerage Services LLCNational Financial Services LLCFirst Avenue PartnersWillis Stein & PartnersDonaldson, Lufkin & Jenrette Securities CorporationMerrill LynchKidder, Peabody & Co.The Teagle FoundationCredit Suisse Securities (USA) LLCSalomon BrothersFir Tree PartnersEaton PartnersEarnings.comThomson FinancialPREANCREIFVeronis Suhler StevensonAtlas AdvisorsNewhouse NewspapersThe Boston Business JournalThe Star-Ledger
Locations 9
New York, NYUSALondonChicagoNorth AmericaCentral and Eastern European countriesAsian countriesLatin American countriesDelaware
Financial Entities 1
BNY
Text Analysis
- Tone
- Informative, formal, and compliant
- Purpose
- To provide information about iCapital Advisors, LLC's qualifications, business practices, fees, and potential conflicts of interest to prospective investors.
- Significance
- This document is a regulatory filing (Form ADV Part 2A and 2B) that provides crucial information for investors to make informed decisions about investing with iCapital Advisors, LLC. It outlines the firm's services, fees, potential conflicts of interest, and the backgrounds of key personnel.
File Info
- File Name
- EFTA01396934.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:41:40.568334
- DOJ Source
- View on DOJ