Form D · Hedge Fund

Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC

Grand Cayman, E9 · CIK 0001685475

Offering snapshot reported Oct 16, 2026 · SEC filing

Reported sold
$3.25M
Indefinite offering
Investors reported
2
Form D · investor count
Minimum accepted
$100K
Reported outside-investor minimum
First sale
Apr 1, 2016
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$1.63M$3.25MDec 7, 2023: $3,250,000.00Dec 7, 2023Oct 16, 2026: $3,250,000.00Oct 16, 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.

No comparable changes in the displayed metrics.

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Oct 16, 2026Amendment$3,250,000$0vs Dec 7, 20232SEC filing
Nov 7, 2025Initial$3,250,000No comparison2SEC filing
Nov 6, 2024Initial$3,250,000No comparison2SEC filing
Dec 7, 2023Initial$3,250,000No comparison2SEC filing
Oct 26, 2022Initial$3,250,000No comparison2SEC filing
Nov 3, 2021Amendment$3,250,000$0vs Oct 16, 20202SEC filing
Oct 16, 2020Amendment$3,250,000$0vs Oct 17, 20192SEC filing
Oct 17, 2019Amendment$3,250,000$0vs Oct 19, 20182SEC filing
Oct 19, 2018Amendment$3,250,000$3,000,000vs Oct 27, 20172SEC filing
Oct 27, 2017Amendment$250,000$0vs Oct 26, 20171SEC filing
Oct 26, 2017Amendment$250,000$0vs Oct 26, 20161SEC filing
Oct 26, 2016Initial$250,000No 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
021-499005
The total amount sold and the number of investors only reflects sales to US Investors. Redemptions and/or withdrawals are not taken into consideration.

Source: Form D, filed Oct 16, 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

CHALLENGER TRADE FINANCE SEGREGATED PORTFOLIO

Investment adviser: SOUTH AFRICA ALPHA CAPITAL MANAGEMENT LTD.

Gross asset value
$60.6M
Beneficial owners
55
ADV minimum commitment
$100K

Reported in Form ADV on Jun 29, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator APEX GROUP SOUTH AFRICA LIMIITED CAPE TOWN, South Africa Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor DELOITTE & TOUCHE GRAND CAYMAN, Cayman Islands
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
No
Administrator other than the adviser
Yes
External marketing
No

DELOITTE & TOUCHE
PCAOB 1096

Filing source

Form ADV 2114867 · Jun 29, 2026 · Schedule D 7.B.(1), fund 805-1688101260

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
N/A Challenger Management Limited Promoter
Mark Fagan Director
Jonathan Hertz Director
Stuart Lacey Director
N/A South Africa Alpha Capital Management Ltd. Promoter
Maree Wilms Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
4 Th Fl., Harbour Pl. 103 South Church St.
Grand Cayman, E9, KY1-1002