Form D · Other Investment Fund

Blue Owl Real Estate Net Lease Trust iCapital Offshore Access Fund SPC

New York, NY · CIK 0002031247

Offering snapshot reported Dec 22, 2025 · SEC filing

Reported sold
$2.61M
Indefinite offering
Investors reported
6
Form D · investor count
Minimum accepted
$0
Reported outside-investor minimum
First sale
Dec 1, 2023
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$1.35M$2.7MNov 18, 2024: $2,700,000.00Nov 18, 2024Dec 22, 2025: $2,605,000.00Dec 22, 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.

  • Reported sold$2,700,000 → $2,605,000

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Dec 22, 2025Amendment$2,605,000-$95,000vs Nov 18, 20246SEC filing
Nov 18, 2024Initial$2,700,000No comparison6SEC 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
021-529711

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
RAYMOND JAMES & ASSOCIATES, INC.705
UBS FINANCIAL SERVICES INC.8174
J.P. MORGAN SECURITIES LLC79

Source: Form D, filed Dec 22, 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

BLUE OWL REAL ESTATE NET LEASE TRUST ICAPITAL OFFSHORE ACCESS FUND SPC

Investment adviser: ICAPITAL ADVISORS, LLC

Gross asset value
$694M
Beneficial owners
608
ADV minimum commitment
$100K

Reported in Form ADV on Sep 30, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator BANK OF NEW YORK MELLON NEW YORK, New York, United States Investor statements: No (provided to no investors) Related to adviser: No
Custodian BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No
Marketer BLUE OWL SECURITIES NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
No
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

BLUE OWL SECURITIES
CRD 283250 · SEC 8-69744

Filing source

Form ADV 2135827 · Sep 30, 2026 · Schedule D 7.B.(1), fund 805-2196583122

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
Campbell Congdon Director
N/A Icapital Advisors, Llc Promoter
Martin Steyn Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
C/O Compliance Department 60 East 42 Nd Street, 28 Th Floor
New York, NY, 10165