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
2026-02-07T18:42
Summary
This document is iCapital Advisors, LLC's Form ADV Part 2A and 2B, providing information about the firm's business practices, fees, services, and potential conflicts of interest. It outlines the firm's investment strategies, types of clients, and the risks associated with investing in the Funds it manages, while also disclosing affiliations and compensation arrangements that could create conflicts of interest.
Metadata
- Subject
- iCapital Advisors, LLC - Form ADV Part 2A and 2B
- Sender
- —
- Recipients
- —
- Document ID
- GLDUS133
- Date
- 2018-03-30
Relationships 12
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| iCapital Advisors, LLC | Subsidiary | Institutional Capital Network, Inc. | iCapital Advisors, LLC is wholly-owned by 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, LLC 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 | Fund Administrator | Gen II Fund Services, LLC and Gen II Hedge Fund Services | Gen II provides fund administration services to the Private Access Funds. |
| iCapital Advisors, LLC | Minority Owner | 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. | BlackRock, Inc. is an investor in Institutional Capital Network, Inc., the parent company of iCapital. |
| iCapital Advisors, LLC | Investor | Credit Suisse Group AG | Credit Suisse Group AG is an investor in Institutional Capital Network, Inc., the parent company of iCapital. |
| iCapital Advisors, LLC | Investor | Morgan Stanley Smith Barney | Morgan Stanley Smith Barney has 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 | Collaboration and Services Agreements | Fidelity Brokerage Services LLC and National Financial Services LLC | 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
"Employees must at all times place the interests of the client first;"
"Investing in securities involves risk of loss that Investors should be prepared to bear."
"iCapital is committed to maintaining the confidentiality, integrity and security of our Investors' personal information."
Red Flags 3
- Multiple potential conflicts of interest due to affiliated entities and equity investors.
- Reliance on Underlying Fund Managers or Sub-Advisers for asset valuations, which could lead to overvaluation and higher fees.
- The possibility of Private Access Funds being used solely in an operational capacity to facilitate access to an underlying investment vehicle, without investment or operational due diligence.
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
- Interests
- Cash
- Cash equivalents
Transactions:
- Management fees 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.
- Underlying Funds typically charge a management fee, which generally ranges from 1% - 2% on an annual basis, and in most cases an incentive compensation arrangement, which generally ranges from 10% - 20% of the capital appreciation in the Underlying Fund.
- Dynasty may receive fees typically ranging from .075% - .25% in relation to investors who are clients of Dynasty's network of financial advisory firms.
- Placement fee as a result of its placement of certain investors in certain Private Access Funds.
Public Knowledge
- Context
- Information contained in Form ADV is generally considered public knowledge as it is filed with the SEC and available on their website.
- Likely Public
- True
Legal Compliance
- Potential conflicts of interest arising from affiliated broker-dealer (iCapital Securities, LLC), fund administrator (Gen II), and equity investors (BlackRock, Credit Suisse, Morgan Stanley, UBS).
- Potential conflicts of interest related to compensation from Underlying Fund Managers.
- Potential conflicts of interest related to fees paid by brokerage limited partners.
- Potential conflicts of interest related to estimates of fund asset values.
- Potential conflicts of interest related to educational programs offered to financial advisors.
Raw Analysis JSON
click to expand
Themes
Business dealingsFinancial transactions/money flowLegal matters/litigationCommunications/correspondencePolitical connections/influence
People 6
Michael Stanton (Chief Compliance Officer)Eileen Duff Blalock (Managing Partner, Head of Distribution, iCapital Network)Phil Pool (Co-Founder and Chairman of the Board, iCapital Network, Co-Chairman, First Avenue Partners)John C. Robertshaw (Co-Founder and Special Advisor, iCapital Network)Daniel Vene (Co-Founder and Managing Partner, iCapital Network)Nicholas Veronis (Co-Founder and Managing Partner, iCapital Network)
Organizations 97
Georgetown University EndowmentiCapital Advisors, LLCiCapital Securities, LLCInstitutional Capital Network, Inc.SEC (Securities and Exchange Commission)FINRA (Financial Industry Regulatory Authority)Deutsche BankiCapital 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.6200 Hollywood Blvd. NorthDislocation 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.BTAS 2015 Private Investors (U.S.), L.P.BTAS 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 FundDynasty Securities, LLCCastle Hall Alternatives Inc.First Avenue PartnersWillis Stein & PartnersCredit Suisse Securities (USA) LLCSalomon BrothersThe Teagle FoundationFir Tree PartnersEaton PartnersEarnings.comThomson FinancialPREANCREIFAtlas AdvisorsVeronis Suhler StevensonNewhouse NewspapersBlackRock, 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 LLC
Locations 6
New York, NYDelawareUSALondonChicagoBoston
Financial Entities 6
Deutsche BankCredit SuisseMorgan Stanley Smith BarneyUBS Financial ServicesBlackRock, Inc.BNY Capital Corporation
Text Analysis
- Tone
- Informative, Disclosure-oriented, Legalistic
- 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 required disclosure for registered investment advisors and provides important information for investors to make informed decisions about investing with iCapital Advisors, LLC.
File Info
- File Name
- EFTA01438649.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:42:01.515952
- DOJ Source
- View on DOJ