Form D · Private Equity Fund

Makarora Real Estate Special Situations Fund I-C LP

New York, NY · CIK 0002060944

Offering snapshot reported May 15, 2026 · SEC filing

Reported sold: $807M
Investors reported: 13
Minimum accepted: $0
First sale: May 19, 2025

What changed?

Latest filing versus its linked predecessor, where available.

Reported investors0 → 13

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
May 15, 2026	Amendment	$807,130,000	No comparison	13	SEC filing
May 15, 2025	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

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

Sales commissions: $15M (estimated)
Finders' fees: $0
Form D file number: 021-546277

Total amount sold includes total Limited Partner commitments as well as sales by Parallel Funds.

A portion of the estimated sales commissions includes sales by Parallel Funds.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Alvine Capital Management Limited	None
Alvine Capital AB	None
Morgan Stanley Smith Barney LLC	149777	Morgan Stanley Smith Barney LLC · CRD 149777
Teneo Partners Japan Limited	None
Hovey Capital Partners LLC	326512	Hovey Capital Partners LLC · CRD 326512
J.P. Morgan Securities LLC	79	J.P. Morgan Securities LLC · CRD 79
Hovey Capital Partners Canada Inc.	None

Source: Form D, filed May 15, 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

MAKARORA REAL ESTATE SPECIAL SITUATIONS FUND I-C LP

Investment adviser: MAKARORA MANAGEMENT LP

Gross asset value: $190M
Beneficial owners: 12
ADV minimum commitment: $0

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

Service providers

Fund administrator SEI GLOBAL SERVICES INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW YORK, New York, United States

Custodian BANK OF AMERICA N.A. NEW YORK, New York, United States Related to adviser: No

Marketer ALVINE CAPITAL AB (ACAB) LONDON, United Kingdom Related to adviser: No

Marketer ALVINE CAPITAL MANAGEMENT LIMITED LONDON, United Kingdom Related to adviser: No

Marketer HOVEY CAPITAL PARTNERS CANADA INC. TORONTO, Canada Related to adviser: No

Marketer HOVEY CAPITAL PARTNERS LLC BOCA RATON, Florida, United States Related to adviser: No

Marketer MORGAN STANLEY NEW YORK, New York, United States Related to adviser: No

Marketer PAVILION PRIVATE EQUITY CO, LTD. SEOUL, Korea, South Related to adviser: No

Marketer TENEO PARTNERS JAPAN LIMITED TOKYO, Japan Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

BANK OF AMERICA N.A.
LEI LEI ID 9DJT3UXIJIZJI

HOVEY CAPITAL PARTNERS LLC
CRD 326512 · SEC 8-71105

MORGAN STANLEY
CRD 149777 · SEC 801-70103

Filing source

Form ADV 2099446 · Apr 29, 2026 · Schedule D 7.B.(1), fund 805-1078234573

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
Michael Jefferies	Executive
John Lewis	Executive
N/A Makarora Real Estate Special Situations Fund I Gp Lp	Promoter
N/A Makarora Real Estate Special Situations Fund I Ugp Llc	Promoter
N/A One Two One Capital Llc	Promoter
Jim Witherspoon	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

60 Charlton Street, 6 Th Floor
New York, NY, 10014