Brevan Howard Multi-Strategy Participation Fund LLC
Raised
$150M
Investors
389
Min Invest
$100,000
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AltStreet Analysis
·Generated from EDGAR primary sources
Brevan Howard Multi-Strategy Participation Fund LLC is a Delaware-domiciled pooled investment fund that has raised $149.8M from 389 investors under Rule 506(b) and Section 3(c) exemptions. The fund sets a $100K minimum investment and is managed by multiple executive officers including representatives from Asterion Fund Services, Maples Fiduciary Services, and iCapital Alternative Investments. This is an amended filing dated April 6, 2021.
This multi-strategy fund operates in the liquid alternatives space with a relatively accessible $100K minimum, positioned well below the $1M+ thresholds common in institutional hedge fund vehicles. The 506(b) / 3(c) exemption pattern is standard for private investment funds targeting accredited investors, while the sub-$500K minimum and presence of iCapital as an executive officer suggest distribution through wealth management and digital alternative investment platforms.
Data Flags
Critical Disclosures
What the filings and the regulators have said about this entity that a reader should know first. Each line links to its source. The history, the same event across other issuers, and alerts are in the terminal.
Reporting lapsed · Form D · last filing April 6, 2021
Offering declared to continue beyond a year; annual amendment 13+ months overdue An issuer that stops filing is the case the going-concern flag cannot catch: the report that would have carried it was never filed.
EDGAR Filing Data
Form D — Primary Source
View on SEC.govFilings on Record
Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.
AltStreet Coverage
Original reporting from AltStreet's daily EDGAR monitoring covering iCapital and its filings.
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Capital Raise Timeline
11 Form D filings from Nov 29, 2011 to Apr 6, 2021, the latest a D/A.
In the Terminal
Filing events
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none on file
Critical / warning
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0 watch · 0 info
Statements extracted
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NAV prints
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Offering chains
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Fund family Part of the Brevan Howard Multi Strategy Participation Fund family: 2 vehicles across 0 generations · full family and the filing behind each link in the terminal
Investor
- The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
- The dated record: 66 facts with source, effective date and capture date, viewable as AltStreet knew them on any past day
- 1 offering timeline: velocity, share raised, first-sale lag, stalled flags
Pro
- This issuer against its cohort: rank by velocity and share raised among offerings filed the same quarter
- The same events, statements and NAV moves across every issuer, screenable, with unlimited watches and CSV
Counts and dates above are the free record. The values, the series and the comparisons are the seat. Loading your view…
Related Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
n/a Asterion Fund Services L.L.C.
Executive Officer · Wilmington, DE
n/a Maples Fiduciary Services (Delaware) Inc. ("MFSD Inc.")
Executive Officer · Wilmington, DE
n/a iCapital Alternative Investments LLC ("iCapital")
Executive Officer · New York, NY
Edward Truitt, Jr.
Executive Officer · Wilmington, DE
Scott Huff
Executive Officer · Wilmington, DE
Barbra Kocsis
Executive Officer · New York, NY
Placement Agents and Sales Compensation (Form D)
Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.
Merrill Lynch, Pierce, Fenner & Smith IncorporatedCRD 7691 on BrokerCheck
Associated broker-dealer: None · New York, NY · Soliciting in all states
Questions About Brevan Howard Multi-Strategy Participation Fund LLC
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is Brevan Howard Multi-Strategy Participation Fund LLC?
Brevan Howard Multi-Strategy Participation Fund LLC is a Delaware limited liability company that filed a Form D with the SEC on April 6, 2021 as a hedge fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7) for an offering of pooled investment fund interests. AltStreet links the issuer to iCapital.
Is Brevan Howard Multi-Strategy Participation Fund LLC legit?
AltStreet does not rate legitimacy; it reports the public record. Brevan Howard Multi-Strategy Participation Fund LLC filed a Form D with the SEC on April 6, 2021 claiming Rule 506(b), Section 3(c), Section 3(c)(7). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $149,802,755 sold to 389 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to iCapital, which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is Brevan Howard Multi-Strategy Participation Fund LLC registered with or approved by the SEC?
No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Brevan Howard Multi-Strategy Participation Fund LLC claimed Rule 506(b), Section 3(c), Section 3(c)(7) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has Brevan Howard Multi-Strategy Participation Fund LLC raised?
Brevan Howard Multi-Strategy Participation Fund LLC reported $149,802,755 sold from 389 investors in an offering of indefinite size as of the Form D filed April 6, 2021.
Who can invest in Brevan Howard Multi-Strategy Participation Fund LLC?
The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(7), each investor must be a qualified purchaser, generally an individual with at least $5 million in investments. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $100,000.
What is the minimum investment in Brevan Howard Multi-Strategy Participation Fund LLC?
The Form D lists $100,000 as the minimum investment accepted from any outside investor as of April 6, 2021. Issuers can waive their own minimums, and the figure does not include fees.
Who is selling Brevan Howard Multi-Strategy Participation Fund LLC and how are they paid?
The Form D names Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD 7691), associated with None as the recipient of sales compensation soliciting in all states.
Who is behind Brevan Howard Multi-Strategy Participation Fund LLC?
The Form D lists 6 related persons: Asterion Fund Services L.L.C., executive officer (Manager of the Issuer); "Maples Fiduciary Services (Delaware) Inc. (""MFSD Inc."")", executive officer (Managing Member of the Manager of the Issuer); "iCapital Alternative Investments LLC (""iCapital"")", executive officer (Administrator); Edward L. Truitt, Jr., executive officer; Scott L. Huff, executive officer; Barbra E. Kocsis, executive officer. Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is Brevan Howard Multi-Strategy Participation Fund LLC located?
The issuer's address on its SEC filings is Mlai, 4 World Financial Center, 250 Vesey Street, 10th Floor, New York, NY 10080. Its phone number of record is 212-449-3382. It is organized under the laws of Delaware.
How long is the Brevan Howard Multi-Strategy Participation Fund LLC offering open?
The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 10 amendments are on record for this CIK.
How large is Brevan Howard Multi-Strategy Participation Fund LLC?
The issuer declined to disclose its net asset value range on the Form D, which the form permits.
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Data Methodology
Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.