Form D · Hedge Fund

WMA Systematic Equity Alpha Long/Short Offshore Fund (iCapital), Ltd.

New York, NY · CIK 0001927361

Offering snapshot reported Aug 6, 2026 · SEC filing

Reported sold: $360M
Investors reported: 397
Minimum accepted: $0
First sale: Aug 1, 2022

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$262,503,522 → $359,599,086

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Aug 6, 2026	Amendment	$359,599,086	$97,095,564vs Aug 7, 2025	397	SEC filing
Aug 7, 2025	Amendment	$262,503,522	No comparison	Not reported	SEC filing
Jun 14, 2023	Amendment	$138,285,945	No comparison	74	SEC filing
May 19, 2022	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: $0 (estimated)
Finders' fees: $0
Form D file number: 021-446174

Certain private placement clients of UBS Financial Services Inc. ("UBS") are required to pay (i) an upfront placement fee directly to UBS and (ii) an ongoing annual fee to the fund (which is then paid to UBS).

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
UBS Financial Services Inc	8174

Source: Form D, filed Aug 6, 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

WMA SYSTEMATIC EQUITY ALPHA LONG/SHORT OFFSHORE FUND (ICAPITAL), LTD.

Investment adviser: ICAPITAL ADVISORS, LLC

Gross asset value: $205M
Beneficial owners: 292
ADV minimum commitment: $250K

Reported in Form ADV on Sep 30, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator BANK OF NEW YORK MELLON NEW YORK, New York, United States Investor statements: No (provided to no investors) Related to adviser: No

Auditor DELOITTE & TOUCHE LLP NEW YORK, New York, United States

Custodian BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Marketer FIRETHORN WEALTH PARTNERS, LLC AUGUSTA, Georgia, United States Related to adviser: No

Marketer HAYMARKET WEALTH MANAGEMENT LLC MADISON, New Jersey, United States Related to adviser: No

Marketer LPL FINANCIAL LLC FORT MILL, South Carolina, United States Related to adviser: No

Marketer MAXIMAI INVESTMENT PARTNERS, LLC CORAL GABLES, Florida, United States Related to adviser: No

Marketer OPPENHEIMER & CO. INC. NEW YORK, New York, United States Related to adviser: No

Marketer RBC PRIVATE COUNSEL (USA) INC. TORONTO, Canada Related to adviser: No

Marketer SIERRA OCEAN, LLC RIPON, California, United States Related to adviser: No

Marketer UBS FINANCIAL SERVICES INC. WEEHAWKEN, New Jersey, United States Related to adviser: No

Marketer WELLS CAPITAL MANAGEMENT SINGAPORE SINGAPORE, Singapore Related to adviser: No

Marketer WELLS FARGO ADVISORS 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

DELOITTE & TOUCHE LLP
PCAOB 34

FIRETHORN WEALTH PARTNERS, LLC
CRD 297634 · SEC 801-113690

HAYMARKET WEALTH MANAGEMENT LLC
CRD 164442 · SEC 801-112921

LPL FINANCIAL LLC
CRD 6413 · SEC 801-10970

MAXIMAI INVESTMENT PARTNERS, LLC
CRD 284919 · SEC 801-108257

OPPENHEIMER & CO. INC.
CRD 249 · SEC 801-887

RBC PRIVATE COUNSEL (USA) INC.
CRD 109648 · SEC 801-55491

SIERRA OCEAN, LLC
CRD 313829 · SEC 801-121123

UBS FINANCIAL SERVICES INC.
CRD 8174 · SEC 801-7163

WELLS CAPITAL MANAGEMENT SINGAPORE
CRD 165024 · SEC 801-76987

WELLS FARGO ADVISORS
CRD 11025 · SEC 801-57434

Filing source

Form ADV 2135827 · Sep 30, 2026 · Schedule D 7.B.(1), fund 805-3325650141

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
Campbell Congdon	Director
I Capital Advisors, Llc	Promoter
I Capital Hf Gp, Llc	Promoter
Joshua Lee	Executive
Justin Lioi	Executive
Michael Stanton	Executive
Martin Steyn	Director

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Compliance Department 60 East 42nd Street, 24th Floor
New York, NY, 10165