Form D · Other Investment Fund

Ullico Infrastructure Tax-Exempt Fund, L.P.

Silver Spring, MD · CIK 0001504312

Offering snapshot reported Dec 29, 2025 · SEC filing

Reported sold
$4.6B
Indefinite offering
Investors reported
289
Form D · investor count
Minimum accepted
$1M
Reported outside-investor minimum
First sale
Apr 17, 2012
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$2.3B$4.6BSep 15, 2021: $2,360,970,000.00Sep 15, 2021Oct 4, 2022: $2,711,470,000.00Oct 4, 2022Dec 22, 2023: $3,015,545,000.00Dec 22, 2023Dec 27, 2024: $4,383,215,000.00Dec 27, 2024Dec 29, 2025: $4,603,215,000.00Dec 29, 2025

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$4,383,215,000 → $4,603,215,000
  • Reported investors277 → 289

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Dec 29, 2025Amendment$4,603,215,000$220,000,000vs Dec 27, 2024289SEC filing
Dec 27, 2024Amendment$4,383,215,000$1,367,670,000vs Dec 22, 2023277SEC filing
Dec 22, 2023Amendment$3,015,545,000$304,075,000vs Oct 4, 2022220SEC filing
Oct 4, 2022Amendment$2,711,470,000$350,500,000vs Sep 15, 2021187SEC filing
Sep 15, 2021Amendment$2,360,970,000No comparisonNot reportedSEC filing
Jul 31, 2020Amendment$1,618,720,000$183,389,000vs Aug 30, 2019128SEC filing
Aug 30, 2019Amendment$1,435,331,000$525,081,000vs Aug 16, 2018120SEC filing
Aug 16, 2018Amendment$910,250,000$445,724,262vs Jul 19, 201774SEC filing
Jul 19, 2017Amendment$464,525,738$164,300,000vs Jul 21, 201659SEC filing
Jul 21, 2016Amendment$300,225,738$25,825,738vs Apr 24, 201522SEC filing
Apr 24, 2015Amendment$274,400,000$161,000,000vs Jan 14, 201427SEC filing
Jan 14, 2014Amendment$113,400,000$70,000,000vs Mar 28, 201314SEC filing
Mar 28, 2013Amendment$43,400,000No comparison7SEC filing
Jul 26, 2012AmendmentYet to sellNo comparison0SEC filing
Jul 27, 2011AmendmentYet to sellNo comparison0SEC filing
Oct 27, 2010InitialYet to sellNo comparison0SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06c, 3C, 3C.7
Duration over one year
Yes
Business combination
No
Sales commissions
$29M (estimated)
Finders' fees
$0
Form D file number
021-149684

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
Pistner, Michael2932182Ullico Investment Company, LLC · CRD 135195
Howe, Luke5779141Ullico Investment Company, LLC · CRD 135195
Norkus, Michael5964441Ullico Investment Company, LLC · CRD 135195
White, Patrick4344341Ullico Investment Company, LLC · CRD 135195

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

ULLICO INFRASTRUCTURE TAX-EXEMPT FUND, L.P.

Investment adviser: ULLICO INVESTMENT ADVISORS, INC.

Gross asset value
$5.87B
Beneficial owners
285
ADV minimum commitment
$5M

Reported in Form ADV on Aug 4, 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: No (provided to no investors) Related to adviser: No
Auditor ERNST & YOUNG LLP PHILADELPHIA, Pennsylvania, United States
Custodian BNY EVERETT, Massachusetts, United States Related to adviser: No
Marketer ULLICO INVESTMENT COMPANY, LLC BETHESDA, Maryland, United States Related to adviser: Yes
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

ERNST & YOUNG LLP
PCAOB 42

BNY
LEI HPFHU0OQ28E4N0NFVK49

ULLICO INVESTMENT COMPANY, LLC
CRD 135195 · SEC 8-66906

Filing source

Form ADV 2123613 · Aug 4, 2026 · Schedule D 7.B.(1), fund 805-4599709656

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
Sonia Axter Executive
Roozbeh Baharian Executive
William Cavanagh Director, Executive
John Coleman Executive
James Hugh Darcey Executive
Adam Fried Executive
Damon Gasque Director
Brian Hale Director
Peter Haley Executive
Darin Hardy Director, Executive
Cathy Humphrey Executive
Herbert Kolben Director, Executive
Evan Kominsky Executive
Richard La Rocque Executive
Joseph Linehan Director, Executive
Jeffrey Murphy Director, Executive
Deborah Nisson Executive
Michael Pistner Director
Kenneth Dunlop Scott Director
Reed Singer Executive
Rohit Syal Executive
N/A Ullico Investment Advisors, Inc. Director
Jason Wilder Executive
Yu Yinan Director, Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
8403 Colesville Rd. 13 Th Floor
Silver Spring, MD, 20910