Form D · Hedge Fund

HedgeForum Pentwater, Ltd.

New York, NY · CIK 0001569997

Offering snapshot reported Oct 16, 2025 · SEC filing

Reported sold: $137M
Investors reported: 291
Minimum accepted: $100K
First sale: Mar 1, 2013

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$109,096,163 → $136,796,163
Reported investors265 → 291

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Oct 16, 2025	Amendment	$136,796,163	$27,700,000vs Apr 22, 2024	291	SEC filing
Apr 22, 2024	Amendment	$109,096,163	-$1vs Mar 31, 2021	265	SEC filing
Mar 31, 2021	Amendment	$109,096,164	$9,037,501vs Sep 8, 2017	265	SEC filing
Sep 8, 2017	Amendment	$100,058,663	$850,000vs Jun 1, 2016	249	SEC filing
Jun 1, 2016	Amendment	$99,208,663	$28,902,793vs Feb 19, 2015	247	SEC filing
Feb 19, 2015	Amendment	$70,305,870	$67,506,629vs Jul 1, 2014	190	SEC filing
Jul 1, 2014	Amendment	$2,799,241	$2,699,241vs Jun 24, 2013	12	SEC filing
Jun 24, 2013	Initial	$100,000	No comparison	1	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $1.15M
Finders' fees: $0
Form D file number: 021-198476

Total Amount Sold includes Regulation S sales.

Sales compensation recipients

Scroll to see all columns →

Recipient	CRD	Associated broker-dealer
Citigroup Global Markets Inc.	7059	Citigroup Global Markets Inc. · CRD 7059
Citi Private Alternatives, LLC	153777	Citi Private Alternatives, LLC · CRD 153777

Source: Form D, filed Oct 16, 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

HEDGEFORUM PENTWATER, LTD

Investment adviser: ICAPITAL ADVISORS, LLC

Gross asset value: $86.4M
Beneficial owners: 87
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 BNY MELLON FUND SERVICES (IRELAND) DAC DUBLIN, Ireland Investor statements: No (provided to no investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS LLP GRAND CAYMAN, Cayman Islands

Custodian THE BANK OF NEW YORK MELLON SA/NV DUBLIN, Ireland Related to adviser: No

Marketer CITIBANK CANADA INVESTMENT FUNDS LIMITED TORONTO, Canada Related to adviser: No

Marketer CITIBANK EUROPE PLC (LUXEMBOURG BRANCH) LUXEMBOURG, Luxembourg Related to adviser: No

Marketer CITIBANK EUROPE PLC (UK BRANCH) UNITED KINGDOM, United Kingdom Related to adviser: No

Marketer CITIBANK N.A. GENEVA BRANCH GENEVA, Switzerland Related to adviser: No

Marketer CITIBANK N.A., JERSEY BRANCH ST. HELIER, Jersey Related to adviser: No

Marketer CITIBANK N.A. LONDON BRANCH LONDON, United Kingdom Related to adviser: No

Marketer CITIBANK N.A., SINGAPORE BRANCH SINGAPORE, Singapore Related to adviser: No

Marketer CITIBANK N.A. ZURICH BRANCH ZURICH, Germany Related to adviser: No

Marketer CITIBANK (SWITZERLAND) AG ZURICH, Switzerland Related to adviser: No

Marketer CITI PRIVATE ALTERNATIVES, LLC 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: Yes

PRICEWATERHOUSECOOPERS LLP
PCAOB 1366

CITI PRIVATE ALTERNATIVES, LLC
CRD 153777 · SEC 8-69789

Filing source

Form ADV 2135827 · Sep 30, 2026 · Schedule D 7.B.(1), fund 805-7704125308

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
N/A Citi Global Alternatives, Llc	Promoter
N/A Citi Private Advisory, Llc	Promoter
Sam Ellis	Director
I Capital Global Alternatives, Llc	Promoter
Stephane Lachance	Director
Martin Laufer	Director
Martin Steyn	Director
Omar Wright	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Compliance Department 60 East 42nd Street, 28th Floor
New York, NY, 10165