Form D · Hedge Fund

Shoals Financials Opportunity Master Fund, LP

Camana Bay, E9 · CIK 0001724176

Offering snapshot reported Feb 3, 2020 · SEC filing

Reported sold: $345M
Investors reported: 2
Minimum accepted: $250K
First sale: Feb 1, 2018

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.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Feb 3, 2020	Amendment	$345,363,000	$0vs Feb 6, 2019	2	SEC filing
Feb 6, 2019	Amendment	$345,363,000	$285,463,000vs Feb 6, 2018	2	SEC filing
Feb 6, 2018	Initial	$59,900,000	No comparison	2	SEC filing

Offering details

Securities: Equity, 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: 021-304879

Source: Form D, filed Feb 3, 2020. 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

SHOALS FINANCIALS OPPORTUNITY MASTER FUND, LP

Investment adviser: SHOALS CAPITAL MANAGEMENT L.P.

Gross asset value: $494M
Beneficial owners: 16
ADV minimum commitment: $50K

Reported in Form ADV on Mar 19, 2020. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator HEDGESERV (CAYMAN) LTD. GEORGETOWN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG GEORGETOWN, Cayman Islands

Custodian NORTHERN TRUST CO NEW YORK, New York, United States Related to adviser: No

Marketer N.A. INVESTCORP LLC NEW YORK, New York, United States Related to adviser: No

Marketer ZANBATO SECURITIES LLC MOUNTAIN VIEW, California, United States Related to adviser: No

Prime broker GOLDMAN SACHS NEW YORK, New York, United States

Prime broker JPMORGAN CHASE NEW YORK, New York, United States

Provider details

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

ERNST & YOUNG
PCAOB 1655

N.A. INVESTCORP LLC
CRD 134162 · SEC 8-66812

ZANBATO SECURITIES LLC
CRD 279028 · SEC 8-69654

Filing source

Form ADV 1379884 · Mar 19, 2020 · Schedule D 7.B.(1), fund 805-1590468692

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
Jeffrey Hinkle	Executive
Shoals Capital Management L.P.	Executive
Shoals Financials Opportunity Gp, Llc	Executive
Raymond A. Waterhouse, Jr.	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

94 Solaris Avenue, P.O. Box 1348
Camana Bay, E9, KY1 1108