Form D · Private Equity Fund

PA Direct Credit Opportunities Fund III, L.P.

Darien, CT · CIK 0001765132

Offering snapshot reported Jan 19, 2021 · SEC filing

Reported sold
$709M
Indefinite offering
Investors reported
136
Form D · investor count
Minimum accepted
$0
Reported outside-investor minimum
First sale
Dec 31, 2018
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$354M$709MJan 22, 2019: $200,000,000.00Jan 22, 2019Jul 10, 2019: $499,550,000.00Jul 10, 2019Oct 15, 2019: $525,866,500.00Jan 14, 2020: $561,161,250.00Jan 14, 2020Jul 23, 2020: $658,323,500.00Jul 23, 2020Jan 19, 2021: $708,974,000.00Jan 19, 2021

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$658,323,500 → $708,974,000
  • Reported investors86 → 136

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Jan 19, 2021Amendment$708,974,000$50,650,500vs Jul 23, 2020136SEC filing
Jul 23, 2020Amendment$658,323,500$97,162,250vs Jan 14, 202086SEC filing
Jan 14, 2020Amendment$561,161,250$35,294,750vs Oct 15, 201954SEC filing
Oct 15, 2019Amendment$525,866,500$26,316,500vs Jul 10, 201916SEC filing
Jul 10, 2019Amendment$499,550,000$299,550,000vs Jan 22, 20195SEC filing
Jan 22, 2019Initial$200,000,000No comparison1SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.7
Duration over one year
Yes
Business combination
No
Sales commissions
$2.45M
Finders' fees
$0
Form D file number
021-330987

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
Equus Financial Consulting LLC131449Equus Financial Consulting LLC · CRD 131449
Stifel, Nicolaus & Company, Incorporated793Stifel, Nicolaus & Company, Incorporated · CRD 793
Lytton Financial Inc.None

Source: Form D, filed Jan 19, 2021. 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

PA DIRECT CREDIT OPPORTUNITIES FUND III, LP

Investment adviser: PORTFOLIO ADVISORS LLC

Gross asset value
$951M
Beneficial owners
206
ADV minimum commitment
$5M

Reported in Form ADV on Mar 27, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator GEN II FUND SERVICES, LLC NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor GRANT THORNTON LLP NEW YORK, New York, United States
Custodian BANK OF AMERICA STAMFORD, Connecticut, United States Related to adviser: No
Marketer LYTTON FINANCIAL INC. TORONTO, Canada Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

GRANT THORNTON LLP
PCAOB 248

Filing source

Form ADV 2070706 · Mar 27, 2026 · Schedule D 7.B.(1), fund 805-1863994971

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
William J. Indelicato Executive
N/A Padcof Iii Gp, Llc Promoter
N/A Portfolio Advisors, Llc Promoter

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
9 Old Kings Highway South
Darien, CT, 06820