Form D · Hedge Fund

Cephei QFII China Total Return Fund Ltd.

Kowloon, K3 · CIK 0001628216

Offering snapshot reported Mar 11, 2026 · SEC filing

Reported sold
$195M
Indefinite offering
Investors reported
8
Form D · investor count
Minimum accepted
$3M
Reported outside-investor minimum
First sale
Jun 4, 2013
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$494M$989MJan 8, 2015: $292,400,000.00Jan 8, 2015Apr 10, 2019: $85,999,718.00May 5, 2020: $600,735,000.00Feb 21, 2023: $974,722,500.00Mar 11, 2024: $988,722,500.00Mar 11, 2025: $243,795,224.00Mar 11, 2026: $194,975,000.00Mar 11, 2026

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$243,795,224 → $194,975,000
  • Reported investors14 → 8

Filing history

Scroll to see all columns →

FiledFiling typeReported soldChange vs linked filingInvestorsSource
Mar 11, 2026Amendment$194,975,000-$48,820,224vs Mar 11, 20258SEC filing
Mar 11, 2025Amendment$243,795,224-$744,927,276vs Mar 11, 202414SEC filing
Mar 11, 2024Amendment$988,722,500$14,000,000vs Feb 21, 202327SEC filing
Feb 21, 2023Amendment$974,722,500$373,987,500vs May 5, 202049SEC filing
May 5, 2020Amendment$600,735,000$514,735,282vs Apr 10, 201959SEC filing
Apr 10, 2019Amendment$85,999,718-$206,400,282vs Jan 8, 201554SEC filing
Jan 8, 2015Initial$292,400,000No comparison30SEC 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
021-231728

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 QFII CHINA TOTAL RETURN FUND LTD.

Investment adviser: CEPHEI CAPITAL MANAGEMENT (HONG KONG) LIMITED

Gross asset value
$336M
Beneficial owners
27
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 CITCO FUND ADMINISTRATOR (CAYMAN ISLANDS) LIMITED CAMANA BAY, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator CITCO FUND SERVICES (SINGAPORE) PTE LTD SINGAPORE, Singapore Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor ERNST & YOUNG LTD GRAND CAYMAN, Cayman Islands
Custodian CHINA CONSTRUCTION BANK CORPORATION BEIJING, China Related to adviser: No
Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, 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

ERNST & YOUNG LTD
PCAOB 1655

Filing source

Form ADV 2043233 · Feb 9, 2026 · Schedule D 7.B.(1), fund 805-6243532100

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
William Hsu Director
William Shang Wi Hsu Director
Gang Li Director
Cephei Capital Management (Hong Kong) Limited Executive
Cdh Investment Advisory Private Limited Director
Cephei Caital 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