Form D · Private Equity Fund

Star Mountain U.S. Lower Middle-Market Secondary Fund III, LP

New York, NY · CIK 0002048428

Offering snapshot reported Dec 29, 2025 · SEC filing

Reported sold
$96.9M
Indefinite offering
Investors reported
29
Form D · investor count
Minimum accepted
$0
Reported outside-investor minimum
First sale
Dec 26, 2024
As reported in this filing

What changed?

Latest filing versus its linked predecessor, where available.

  • Reported investors0 → 29

Filing history

Scroll to see all columns →

FiledFiling typeReported soldChange vs linked filingInvestorsSource
Dec 29, 2025Amendment$96,945,000No comparison29SEC filing
Dec 17, 2024InitialYet to sellNo comparison0SEC 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
021-532407
The total amount sold of the Issuer will include amounts sold with respect to Star Mountain U.S. Lower Middle-Market Secondary Fund III (Offshore), LP, a feeder entity of the Issuer.

Source: Form D, filed Dec 29, 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

STAR MOUNTAIN U.S. LOWER MIDDLE-MARKET SECONDARY FUND III, LP

Investment adviser: STAR MOUNTAIN FUND MANAGEMENT, LLC

Gross asset value
$54.5M
Beneficial owners
39
ADV minimum commitment
$0

Reported in Form ADV on Mar 31, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor ERNST & YOUNG NASSAU, Bahamas, The
Custodian CUSTOMERS BANK MALVERN, Pennsylvania, United States Related to adviser: No
Marketer ALPHASOURCE CAPITAL SECURITIES LLC EAST QUOGUE, New York, United States Related to adviser: No
Marketer BLACK ISLE CAPITAL PARTNERS LONDON, United Kingdom Related to adviser: No
Marketer INVESTMENT ASSOCIATES AG ZURICH, Switzerland Related to adviser: No
Marketer ORPHEUS PARTNERS LONDON, United Kingdom Related to adviser: No
Marketer STAR MOUNTAIN ADVISORS, LLC NEW YORK, New York, United States Related to adviser: Yes
Marketer TRAJECTOIRE CAPITAL GROUP SA NEW YORK, New York, United States Related to adviser: No
Marketer WAVECREST SECURITIES LLC NEW YORK, New York, 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

ERNST & YOUNG
PCAOB 5690

ALPHASOURCE CAPITAL SECURITIES LLC
CRD 145875 · SEC 8-67759

STAR MOUNTAIN ADVISORS, LLC
CRD 153505 · SEC 8-68541

WAVECREST SECURITIES LLC
CRD 160135 · SEC 8-69029

Filing source

Form ADV 2079380 · Mar 31, 2026 · Schedule D 7.B.(1), fund 805-6506332062

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
Brett A. Hickey Executive
N/A Star Mountain Fund Management, Llc Executive
N/A Star Mountain U.S. Lower Middle Market Secondary Fund Iii Gp, Llc Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
2 Grand Central Tower 140 East 45 Th Street, 37 Th Floor
New York, NY, 10017