Illegal Activity
suspicious
Blackmail
possible
Date
2018-03-30
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:41
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. It outlines the services offered to various Funds and the due diligence processes employed, while also disclosing affiliations and compensation structures that could create conflicts.
Metadata
- Subject
- Form ADV Part 2A and 2B: Brochure Supplement
- Sender
- —
- Recipients
- —
- Document ID
- GLDUS132
- Date
- 2018-03-30
Illegal Activity
- Severity
- suspicious
- Description
- The document describes potential conflicts of interest and incentives that could lead to unethical or potentially illegal behavior, but there is no clear evidence of illegal activity being committed, planned, or discussed as a first-hand action.
- Content Type
- none
Blackmail Indicators
- Likelihood
- possible
- Description
- The document mentions potential conflicts of interest and incentives that could influence recommendations, which could potentially lead to pressure or coercion, although not explicitly stated.
Relationships 10
| 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 is an affiliate of iCapital Advisors, LLC. |
| iCapital Advisors, LLC | Service Provider | Gen II Fund Services, LLC and Gen II Hedge Fund Services | Gen II provides fund administration services to the Private Access Funds of iCapital Advisors, LLC. |
| 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 | Collaboration | 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. |
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 3
- Multiple potential conflicts of interest due to affiliations and compensation structures.
- Reliance on estimates provided by Underlying Fund Managers or Sub-Advisers for asset valuations.
- The possibility of Private Access Funds being used solely in an operational capacity without investment or operational due diligence.
Financial Information
Amounts:$100,000$250,000$4,014,735,581.860.25%1.25%1% - 2%10% - 20%.075% - .25%$12.5 billion$250 billion
Assets:
- Private equity or hedge funds
- Equity securities
- Debt securities
- Real estate or real estate loans or interests
Transactions:
- Management fee charged quarterly in advance, typically ranging between 0.25% to 1.25% per annum.
- Investor servicing fee charged as a percentage of the Fund's aggregate capital contributions.
- Underlying Funds typically charge a management fee, generally ranging from 1% - 2% on an annual basis, and an incentive compensation arrangement, which generally ranges from 10% -20% of the capital appreciation in the Underlying Fund.
Public Knowledge
- Context
- Information about investment advisors and their practices is often of interest to investors and regulators.
Legal Compliance
- Potential conflicts of interest arising from relationships with affiliated entities (iCapital Securities, Gen II, BNY) and equity 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 in determining valuations of Fund assets.
- Potential conflicts of interest related to educational programs offered to financial advisors.
Raw Analysis JSON
click to expand
Themes
Financial transactions/money flowBusiness dealingsLegal matters/litigationPolitical connections/influence
Organizations 102
iCapital Advisors, LLCEverWatch FinancialUnited States Securities and Exchange CommissionSECInstitutional Capital Network, Inc.Deutsche BankFidelity Brokerage Services LLCiCapital Securities, LLCFinancial Industry Regulatory AuthorityiCapital 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 FundiCapital-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.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 FinancialPREANCREIFVeronis Suhler StevensonAtlas AdvisorsNewhouse NewspapersThe Boston Business JournalThe Star-LedgerNational Financial Services LLC
Locations 7
New York, NYUSADelawareChicagoLondonNorth AmericaUnited States
Financial Entities 3
BanksInvestment firmsFinancial institutions
Text Analysis
- Tone
- Professional
- Purpose
- To provide information about the qualifications and business practices of iCapital Advisors, LLC.
- Significance
- This document is important as it outlines the advisory business, fees, investment strategies, and potential conflicts of interest for iCapital Advisors, LLC.
File Info
- File Name
- EFTA01439454.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:41:51.341761
- DOJ Source
- View on DOJ