Form D · Hedge Fund

ApaH Capital Master Fund

George Town, Grand Cayman, E9 · CIK 0001844798

Offering snapshot reported Feb 7, 2025 · SEC filing

Reported sold
$170M
Indefinite offering
Investors reported
3
Form D · investor count
Minimum accepted
$100K
Reported outside-investor minimum
First sale
Feb 1, 2021
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$85.2M$170MFeb 8, 2021: $150,000,000.00Feb 8, 2021Feb 8, 2022: $150,625,000.00Feb 8, 2022Feb 8, 2022: $150,625,000.00Feb 8, 2023: $150,625,000.00Feb 8, 2023Feb 8, 2024: $170,400,000.00Feb 8, 2024Feb 7, 2025: $170,400,000.00Feb 7, 2025

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.

No comparable changes in the displayed metrics.

Filing history

Scroll to see all columns →

FiledFiling typeReported soldChange vs linked filingInvestorsSource
Feb 7, 2025Amendment$170,400,000$0vs Feb 8, 20243SEC filing
Feb 8, 2024Amendment$170,400,000$19,775,000vs Feb 8, 20233SEC filing
Feb 8, 2023Amendment$150,625,000$0vs Feb 8, 20223SEC filing
Feb 8, 2022Amendment$150,625,000$625,000vs Feb 8, 20213SEC filing
Feb 8, 2022Amendment$150,625,000$0vs Feb 8, 20223SEC filing
Feb 8, 2021Initial$150,000,000No comparison1SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.7
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-388711

Source: Form D, filed Feb 7, 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

APAH CAPITAL MASTER FUND

Investment adviser: APAH CAPITAL MANAGEMENT LIMITED

Gross asset value
$171M
Beneficial owners
10
ADV minimum commitment
$100K

Reported in Form ADV on Dec 22, 2025. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LIMITED GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS GRAND CAYMAN, Cayman Islands
Custodian GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom Related to adviser: No
Custodian J.P. MORGAN SECURITIES PLC LONDON, United Kingdom Related to adviser: No
Custodian MORGAN STANLEY & CO. INTERNATIONAL PLC. LONDON, United Kingdom Related to adviser: No
Prime broker GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom
Prime broker J.P. MORGAN SECURITIES PLC LONDON, United Kingdom
Prime broker MORGAN STANLEY & CO. INTERNATIONAL PLC. LONDON, United Kingdom
Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS
PCAOB 1266

GOLDMAN SACHS INTERNATIONAL
LEI W22LROWP2IHZNBB6K528

J.P. MORGAN SECURITIES PLC
LEI K6Q0W1PS1L1O4IQL9C32

MORGAN STANLEY & CO. INTERNATIONAL PLC.
LEI 4PQUHN3JPFGFNF3BB653

Filing source

Form ADV 2035555 · Dec 22, 2025 · Schedule D 7.B.(1), fund 805-4007321867

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

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
NameReported role
Apa H Capital Management Limited Promoter
Heide Heiden Blunt Director
Gary C. Linford Director
Gary Liu Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
C/O Walkers Corporate Limited 190 Elgin Avenue
George Town, Grand Cayman, E9, KY1-9008