Form D · Hedge Fund

Piper Jaffray Municipal Opportunities Fund (Offshore), Ltd.

Grand Cayman, E9 · CIK 0001571233

Offering snapshot reported Mar 3, 2015 · SEC filing

Reported sold: $20.7M
Investors reported: 15
Minimum accepted: $250K
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$13,680,000 → $20,697,000
Reported investors6 → 15
Minimum accepted$1,000,000 → $250,000

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 3, 2015	Amendment	$20,697,000	$7,017,000vs Mar 7, 2014	15	SEC filing
Mar 7, 2014	Amendment	$13,680,000	$13,030,000vs Mar 8, 2013	6	SEC filing
Mar 8, 2013	Initial	$650,000	No comparison	1	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b
Duration over one year: Yes
Business combination: No

Sales commissions: $221K (estimated)
Finders' fees: $0
Form D file number: 021-192987

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Piper Jaffray & Co	665	Piper Jaffray & Co · CRD 665
Frontier Solutions, LLC	136102	Frontier Solutions, LLC · CRD 136102

Source: Form D, filed Mar 3, 2015. 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

PIPER JAFFRAY MUNICIPAL OPPORTUNITIES FUND (OFFSHORE), LTD.

Investment adviser: PIPER JAFFRAY INVESTMENT MANAGEMENT, LLC

Gross asset value: $21.3M
Beneficial owners: 13
ADV minimum commitment: $250K

Reported in Form ADV on Mar 30, 2015. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator WOODFIELD FUND ADMINISTRATION LLC ROLLING MEADOWS, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LTD CAMANA BAY, Cayman Islands

Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Custodian U.S. BANK N.A. MINNEAPOLIS, Minnesota, United States Related to adviser: No

Marketer FRONTIER SOLUTIONS, LLC ATLANTA, Georgia, United States Related to adviser: No

Marketer MMX MANAGEMENT LLC MINNETONKA, Minnesota, United States Related to adviser: No

Prime broker PERSHING LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

PERSHING LLC
SEC 8-17574

FRONTIER SOLUTIONS, LLC
CRD 136102 · SEC 8-66972

PERSHING LLC
CRD 7560 · SEC 8-17574

Filing source

Form ADV 890096 · Mar 30, 2015 · Schedule D 7.B.(1), fund 805-4857826234

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
Mark Fagan	Director
Gary Linford	Director
Martin Bradley Winges	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Mourant Ozannes Corporate Services 94 Solaris Ave, Camana Bay, Po Box 1348
Grand Cayman, E9, KY1-1108