Form D · Hedge Fund

Elkwater BDC Income Offshore Fund Ltd.

Grand Cayman, E9 · CIK 0002102700

Offering snapshot reported Mar 19, 2026 · SEC filing

Reported sold: $7.25M
Investors reported: 3
Minimum accepted: $1M
First sale: Nov 1, 2025

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 19, 2026	Initial	$7,250,000	No comparison	3	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.1
Duration over one year: Yes
Business combination: No

Sales commissions: $0
Finders' fees: $0
Form D file number: 021-577030

Source: Form D, filed Mar 19, 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

ELKWATER BDC INCOME OFFSHORE FUND LTD

Investment adviser: ELKWATER CAPITAL MANAGEMENT, LLC

Gross asset value: $5.25M
Beneficial owners: 2
ADV minimum commitment: $1M

Reported in Form ADV on Mar 20, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator NAV FUND SERVICES OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor SPICER JEFFRIES LLP DENVER, Colorado, United States

Custodian NORTHBROOK BANK & TRUST CHICAGO, Illinois, United States Related to adviser: No

Marketer HOLLISTER ASSOCIATES, LLC MOUNT PLEASANT, South Carolina, United States Related to adviser: No

Prime broker INTERACTIVE BROKERS LLC GREENWICH, Connecticut, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

SPICER JEFFRIES LLP
PCAOB 349

NORTHBROOK BANK & TRUST
LEI CLHA5EVJO4FMZ2WOBV70

HOLLISTER ASSOCIATES, LLC
CRD 173366 · SEC 8-69538

INTERACTIVE BROKERS LLC
CRD 36418 · SEC 8-47257

Filing source

Form ADV 2035996 · Mar 20, 2026 · Schedule D 7.B.(1), fund 805-7381725327

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
Jordan Brock	Executive, Promoter
William Bruce	Executive, Promoter
N/A N/A Elkwater Capital Management Llc	Promoter

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Leeward Management Limited 3119 9 Camana Bay
Grand Cayman, E9, KY1-9006