Form D · Hedge Fund

Squadron Master Fund LP

Oak Brook, IL · CIK 0002043101

Offering snapshot reported Oct 29, 2026 · SEC filing

Reported sold: $344M
Investors reported: 45
Minimum accepted: $0
First sale: Nov 1, 2024

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$136,880,000 → $344,091,222
Reported investors7 → 45

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Oct 29, 2026	Amendment	$344,091,222	$207,211,222vs Oct 29, 2025	45	SEC filing
Oct 29, 2025	Amendment	$136,880,000	No comparison	7	SEC filing
Oct 31, 2024	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $689K (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-528249

Rcpt1 serves as placement agent and is entitled to a % of the fees paid to IM attributable to certain assets under management. Issuer no longer has an agmt with Rcpt 2, who was never paid, nor is entitled to be paid in the future, for this offering.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
General Wellington Capital, LLC	000282139
Frontier Solutions, LLC	000136102

Source: Form D, filed Oct 29, 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

SQUADRON MASTER FUND LP

Investment adviser: SQUADRON CAPITAL MANAGEMENT LLC

Gross asset value: $386M
Beneficial owners: 55
ADV minimum commitment: $250K

Reported in Form ADV on Jun 29, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator NAV CONSULTING, INC OAKBROOK TERRACE, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG LLP NEW YORK, New York, United States

Custodian JEFFERIES LLC NEW YORK, New York, United States Related to adviser: No

Custodian NORTHERN TRUST CORPORATION CHICAGO, Illinois, United States Related to adviser: No

Custodian UBS SECURITIES LLC NEW YORK, New York, United States Related to adviser: No

Marketer GENERAL WELLINGTON CAPITAL LLC NEW YORK, New York, United States Related to adviser: No

Prime broker JEFFERIES LLC NEW YORK, New York, United States

Prime broker UBS SECURITIES LLC 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

KPMG LLP
PCAOB 185

JEFFERIES LLC
SEC 8-15074

NORTHERN TRUST CORPORATION
LEI 549300GLF98S992BC502

UBS SECURITIES LLC
SEC 8-22651

GENERAL WELLINGTON CAPITAL LLC
CRD 282139 · SEC 8-69705

JEFFERIES LLC
CRD 2347 · SEC 8-15074

UBS SECURITIES LLC
CRD 7654 · SEC 8-22651

Filing source

Form ADV 2106764 · Jun 29, 2026 · Schedule D 7.B.(1), fund 805-2566182356

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
Matthew Sesterhenn	Executive, Promoter
N/A N/A Squadron Capital Management Llc	Promoter
Squadron Capital Management Llc	Executive, Promoter
N/A N/A Squadron Partners Llc	Promoter
Squadron Partners Llc	Executive, Promoter
Blank William	Executive, Promoter

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

1211 W. 22 Nd Street Suite 1008
Oak Brook, IL, 60523