Form D · Hedge Fund

AIR Policy Portfolio II, LP

Chicago, IL · CIK 0001856315

Offering snapshot reported Apr 16, 2025 · SEC filing

Reported sold: $164M
Investors reported: 5
Minimum accepted: $250K
First sale: Apr 1, 2021

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$162,458,331 → $164,171,305
Reported investors4 → 5

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Apr 16, 2025	Amendment	$164,171,305	$1,712,974vs Apr 15, 2024	5	SEC filing
Apr 15, 2024	Amendment	$162,458,331	$42,486,457vs Apr 13, 2023	4	SEC filing
Apr 13, 2023	Amendment	$119,971,874	$24,180,200vs Apr 13, 2022	3	SEC filing
Apr 13, 2022	Amendment	$95,791,674	No comparison	2	SEC filing
Apr 13, 2021	Initial	Yet to sell	No comparison	Not reported	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.1
Duration over one year: Yes
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-395576

Source: Form D, filed Apr 16, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

AIR POLICY PORTFOLIO II, LP

Investment adviser: ALTERNATIVE INVESTMENT RESOURCE, LLC

Gross asset value: $187M
Beneficial owners: 5
ADV minimum commitment: $250K

Reported in Form ADV on Mar 31, 2025. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor CBIZ CPA P.C. KANSAS CITY, Missouri, United States

Custodian COMPUTERSHARE TRUST COMPANY, NATIONAL ASSOCIATION CANTON, Massachusetts, United States Related to adviser: No

Custodian NORTHBROOK BANK & TRUST NORTHBROOK, Illinois, United States Related to adviser: No

Custodian THE HUNTINGTON NATIONAL BANK COLUMBUS, Ohio, United States Related to adviser: No

Custodian WELLS FARGO BANK, NATIONAL ASSOCIATION SAN FRANCISCO, California, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

CBIZ CPA P.C.
PCAOB 199

Filing source

Form ADV 1957452 · Mar 31, 2025 · Schedule D 7.B.(1), fund 805-1892342267

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Related funds

Funds whose names form a numbered series with this one and that share its city or the name of a related person. Form D does not state how these funds are related.

Fund	Latest Form D	Reported sold	Investors
AIR Policy Portfolio I, LP	Jun 9, 2025	$101,597,711	8
AIR Policy Portfolio II, LP (this fund)	Apr 16, 2025	$164,171,305	5

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Richard Beleutz	Executive
Stephen Luongo	Executive
N/A Policy Portfolio Management Ii, Llc	Promoter
Matthew Schaefer	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Policy Portfolio Management Ii, Llc 333 S. Wabash Avenue, Suite 2714
Chicago, IL, 60604