Form D · Private Equity Fund

PA Direct Credit Opportunities Fund IV (Offshore), L.P.

Darien, CT · CIK 0002038477

Offering snapshot reported Sep 30, 2025 · SEC filing

Reported sold: $323M
Investors reported: 24
Minimum accepted: $0
First sale: Oct 1, 2024

What changed?

Latest filing versus its linked predecessor, where available.

Reported investors0 → 24

Filing history

Scroll to see all columns →

Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Sep 30, 2025	Amendment	$322,680,000	No comparison	24	SEC filing
Sep 30, 2024	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: $0
Finders' fees: $0
Form D file number: 021-525325

Source: Form D, filed Sep 30, 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

PA DIRECT CREDIT OPPORTUNITIES FUND IV (OFFSHORE), LP

Investment adviser: PORTFOLIO ADVISORS LLC

Gross asset value: $138M
Beneficial owners: 24
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

Custodian HUNTINGTON BANK COLUMBUS, Ohio, United States Related to adviser: No

Marketer CROWNROCK PARTNERS SEOUL, Korea, South Related to adviser: No

Marketer EQUUS FINANCIAL CONSULTING LLC NEW CANAAN, Connecticut, United States Related to adviser: No

Marketer FALCOM INTERNATIONAL LTDA SANTIAGO, Chile Related to adviser: No

Marketer KONOMI INC TOKYO, Japan Related to adviser: No

Marketer LYTTON FINANCIAL INC. TORONTO, Canada Related to adviser: No

Marketer MAVIRA PARTNERS LONDON, United Kingdom Related to adviser: No

Marketer STIFEL, NICOLAUS & COMPANY, INCORPORATED ST. LOUIS, Missouri, 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

GRANT THORNTON LLP
PCAOB 248

EQUUS FINANCIAL CONSULTING LLC
CRD 131449 · SEC 8-66467

STIFEL, NICOLAUS & COMPANY, INCORPORATED
CRD 793 · SEC 801-10746

Filing source

Form ADV 2070706 · Mar 27, 2026 · Schedule D 7.B.(1), fund 805-8743508490

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
William J. Indelicato	Executive
John M. Kyles	Executive
Padcof Iv Gp, Llc	Executive
Portfolio Advisors, Llc	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

9 Old Kings Highway South
Darien, CT, 06820