Form D · Hedge Fund

Man Funds XI SPC, on behalf of & for the account of Man TargetRisk (Cayman) SP

Grand Cayman, E9 · CIK 0001789622

Offering snapshot reported Oct 1, 2026 · SEC filing

Reported sold
$2.41B
Indefinite offering
Investors reported
18
Form D · investor count
Minimum accepted
$1M
Reported outside-investor minimum
First sale
Sep 9, 2019
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$1.21B$2.41BSep 27, 2019: $80,000,000.00Sep 27, 2019Sep 28, 2020: $197,000,000.00Sep 28, 2021: $763,700,000.00Sep 28, 2022: $1,248,699,999.00Sep 28, 2023: $1,295,999,999.00Sep 30, 2024: $2,386,499,999.00Sep 30, 2025: $2,404,499,999.00Oct 1, 2025: $2,404,499,999.00Oct 1, 2026: $2,410,969,999.00Oct 1, 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$2,404,499,999 → $2,410,969,999
  • Reported investors17 → 18

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Oct 1, 2026Amendment$2,410,969,999$6,470,000vs Oct 1, 202518SEC filing
Oct 1, 2025Amendment$2,404,499,999$0vs Sep 30, 202517SEC filing
Sep 30, 2025Amendment$2,404,499,999$18,000,000vs Sep 30, 202417SEC filing
Sep 30, 2024Amendment$2,386,499,999$1,090,500,000vs Sep 28, 202315SEC filing
Sep 28, 2023Amendment$1,295,999,999$47,300,000vs Sep 28, 202212SEC filing
Sep 28, 2022Amendment$1,248,699,999$1,168,699,999vs Sep 27, 201911SEC filing
Sep 28, 2021Amendment$763,700,000$566,700,000vs Sep 28, 20209SEC filing
Sep 28, 2020Amendment$197,000,000$117,000,000vs Sep 27, 20193SEC filing
Sep 27, 2019Initial$80,000,000No comparison2SEC 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
021-349842
Includes only securities sold to U.S. investors by the Issuer in reliance on Regulation D (e.g., excludes securities sold to non-U.S. investors in reliance on Regulation S).
Man Investments Inc. ("MII") is an affiliate of AHL Partners LLP. The Issuer did not pay sales commissions to MII. MII compensates Registered Reps a salary and discretionary bonus, determined by many factors including assets raised for the Issuer.

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
Man Investments Inc.15770

Source: Form D, filed Oct 1, 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

MAN FUNDS XI SPC - MAN TARGETRISK (CAYMAN) SP

Investment adviser: AHL PARTNERS LLP

Gross asset value
$1.67B
Beneficial owners
9
ADV minimum commitment
$100K

Reported in Form ADV on Aug 7, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator BNY MELLON FUND SERVICES (IRELAND) DESIGNATED ACTIVITY COMPANY DUBLIN, Ireland Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor DELOITTE & TOUCHE LLP GRAND CAYMAN, Cayman Islands
Custodian BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No
Marketer MAN INVESTMENTS AG PFAFFIKON, Switzerland Related to adviser: Yes
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

DELOITTE & TOUCHE LLP
PCAOB 1096

BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

Filing source

Form ADV 2121705 · Aug 7, 2026 · Schedule D 7.B.(1), fund 805-5858231521

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 Ahl Partners Llp Executive
Jennifer Collins Director
Ronan Daly Director
N/A Man Asset Management (Cayman) Limited Executive
Tim Sweeting Director
Jennifer Thomson Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
Maples Corporate Services Limited Ugland House, South Church Street
Grand Cayman, E9, KY1-1104