Form D · Hedge Fund

BIL, Ltd.

Grand Cayman, E9 · CIK 0001379135

Offering snapshot reported Jun 23, 2026 · SEC filing

Reported sold: $8.75B
Investors reported: 286
Minimum accepted: $100K
First sale: Oct 1, 1998

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$7,298,124,675 → $8,751,352,010
Reported investors261 → 286

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Jun 23, 2026	Amendment	$8,751,352,010	$1,453,227,335vs Jun 28, 2022	286	SEC filing
Jun 25, 2025	Amendment	$8,545,424,420	$1,247,299,745vs Jun 28, 2022	280	SEC filing
Jun 17, 2024	Amendment	$7,662,824,750	$364,700,075vs Jun 28, 2022	268	SEC filing
Jun 28, 2023	Amendment	$7,521,949,675	$223,825,000vs Jun 28, 2022	263	SEC filing
Jun 28, 2022	Amendment	$7,298,124,675	$611,450,000vs Jun 26, 2020	261	SEC filing
Jun 23, 2021	Amendment	$7,119,224,675	$432,550,000vs Jun 26, 2020	255	SEC filing
Jun 26, 2020	Amendment	$6,686,674,675	$1,056,070,000vs Jun 27, 2019	246	SEC filing
Jun 27, 2019	Amendment	$5,630,604,675	$292,300,000vs Jun 29, 2018	217	SEC filing
Jun 29, 2018	Amendment	$5,338,304,675	$97,638,650vs Jun 30, 2017	210	SEC filing
Jun 30, 2017	Amendment	$5,240,666,025	$1,024,113,121vs Jul 11, 2016	203	SEC filing
Jul 11, 2016	Amendment	$4,216,552,904	$37,292,271vs Mar 7, 2016	158	SEC filing
Mar 7, 2016	Amendment	$4,179,260,633	$804,307,979vs Mar 6, 2015	156	SEC filing
Mar 6, 2015	Amendment	$3,374,952,654	$0vs Mar 6, 2015	143	SEC filing
Mar 6, 2015	Initial	$3,374,952,654	No comparison	143	SEC filing
Mar 7, 2014	Amendment	$3,055,757,654	$316,513,503vs Mar 7, 2013	134	SEC filing
Mar 7, 2013	Amendment	$2,739,244,151	$322,477,778vs Oct 10, 2012	116	SEC filing
Oct 10, 2012	Amendment	$2,416,766,373	$397,029,212vs Mar 7, 2012	100	SEC filing
Mar 7, 2012	Amendment	$2,019,737,161	$11,000,000vs Feb 7, 2012	85	SEC filing
Feb 7, 2012	Amendment	$2,008,737,161	$203,565,000vs Mar 9, 2011	85	SEC filing
Mar 9, 2011	Amendment	$1,805,172,161	$161,499,545vs Jun 7, 2010	67	SEC filing
Jun 7, 2010	Amendment	$1,643,672,616	$7,890,920vs Apr 12, 2010	59	SEC filing
Apr 12, 2010	Amendment	$1,635,781,696	$30,000,000vs Mar 9, 2010	57	SEC filing
Mar 9, 2010	Amendment	$1,605,781,696	No comparison	55	SEC filing
Oct 16, 2006	Paper	Not reported	No comparison	Not reported	SEC 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: 021-235362

Source: Form D, filed Jun 23, 2026. 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

BIL, LTD.

Investment adviser: BRACEBRIDGE CAPITAL, LLC

Gross asset value: $6.19B
Beneficial owners: 140
ADV minimum commitment: $100K

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C FUND SERVICES (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS GRAND CAYMAN, Cayman Islands

Custodian CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States Related to adviser: No

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Custodian U.S. BANK NATIONAL ASSOCIATION MINNEAPOLIS, Minnesota, United States Related to adviser: No

Prime broker CITIGROUP GLOBAL MARKETS INC. NEW YORK, New York, United States

Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States

Provider details

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

PRICEWATERHOUSECOOPERS
PCAOB 1266

CITIGROUP GLOBAL MARKETS INC.
SEC 8-8177 · LEI MBNUM2BPDO7JBLYG310

MORGAN STANLEY & CO. LLC
SEC 8-15869 · LEI 9R7GPTSO7KV3UQJZQ078

STATE STREET BANK AND TRUST COMPANY
LEI 571474TGEMMWANRLN572

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

U.S. BANK NATIONAL ASSOCIATION
LEI 6BYL5QZYBDK8S7L73M02

CITIGROUP GLOBAL MARKETS INC.
CRD 7059 · SEC 8-8177

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Filing source

Form ADV 2040251 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-7008242876

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
Name	Reported role
Kirstan Barnett	Executive
Bracebridge Capital, Llc	Executive
Bracebridge Capital, Llc	Executive
Alaina Danley	Director
Valerie Jo Friedman	Executive
Aldo Ghisletta	Director
Jonathan Grenzke	Executive
Paul Mashikian	Executive
Jonathan Otting	Executive
Dr. Michael Rashes	Executive
Derek Reisinger	Executive
Seth Robbins	Executive
Don Seymour	Director
John N. Spinney, Jr.	Executive
Gabriel Sunshine	Executive
Lori Webb Griffith	Director
Nancy Zimmerman	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

Waystone Corporate Services (Cayman) Ltd Six Cricket Square, Po Box 2587
Grand Cayman, E9, KY1-1103