Form D · Hedge Fund

Cephei China Equity Relative Return Fund Ltd.

Kowloon, K3 · CIK 0001967148

Offering snapshot reported Mar 11, 2026 · SEC filing

Reported sold: $0
Investors reported: 0
Minimum accepted: $3M
First sale: Oct 1, 2022

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$55,260,574 → $0
Reported investors2 → 0

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 11, 2026	Amendment	$0	-$55,260,574vs Mar 11, 2025	0	SEC filing
Mar 11, 2025	Amendment	$55,260,574	-$4,489,426vs Mar 11, 2024	2	SEC filing
Mar 11, 2024	Amendment	$59,750,000	$4,000,000vs Mar 8, 2023	2	SEC filing
Mar 8, 2023	Initial	$55,750,000	No comparison	2	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: 021-475186

Source: Form D, filed Mar 11, 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

CEPHEI CHINA EQUITY RELATIVE RETURN FUND LTD.

Investment adviser: CEPHEI CAPITAL MANAGEMENT (HONG KONG) LIMITED

Gross asset value: $17.9M
Beneficial owners: 3
ADV minimum commitment: $3M

Reported in Form ADV on Feb 9, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS GRAND CAYMAN, Cayman Islands

Custodian CHINA CONSTRUCTION BANK CORPORATION BEIJING, China Related to adviser: No

Custodian NORTHERN TRUST COMPANY LONDON, United Kingdom Related to adviser: No

Provider details

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

PRICEWATERHOUSECOOPERS
PCAOB 1266

Filing source

Form ADV 2043233 · Feb 9, 2026 · Schedule D 7.B.(1), fund 805-6920138008

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
William Shang Wi Hsu	Director
Gang Li	Director
Cephei Capital Management (Hong Kong) Limited	Executive
Yu Min	Director
Jing Ning	Director
Stuart Schonberger	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

1502 A International Commerce Center 1 Austin Road West
Kowloon, K3, 00000