PA Direct Credit Opportunities Fund III (Offshore), L.P.
Built from the SEC filing index the day the filing landed. The figures below are the issuer's own from Form D; AltStreet's analysis, sponsor link and data flags follow when the entity is enriched.
Raised
$398M
Investors
61
Min Invest
None stated
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What this filing shows
·Every sentence is a value as filed on SEC Form D
PA Direct Credit Opportunities Fund III (Offshore), L.P. is a Cayman Islands limited partnership that first filed a Form D on October 15, 2019 and most recently amended it on April 30, 2021, describing itself as a private equity fund. The offering claims Rule 506(b), Section 3(c), Section 3(c)(7) and covers pooled investment fund interests. PA Direct Credit Opportunities Fund III (Offshore), L.P. reported $397,900,000 sold from 61 investors of a $397,900,000 total offering as of the Form D filed April 30, 2021. 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 filing lists the minimum investment as $0, meaning no minimum was stated. The Form D names Equus Financial Consulting LLC (CRD 131449); Stifel, Nicolaus & Company, Incorporated (CRD 793); EBW Capital Limited, associated with None; Lytton Financial Inc., associated with None and 3 others as recipients of sales compensation soliciting in AL, AR, AZ, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV. The issuer's address of record is 9 Old Kings Highway South, Darien, CT 06820.
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.
In the Terminal
Filing events
0
none on file
Critical / warning
0 / 0
0 watch · 0 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
closed
Fund family Part of the PA Direct Credit Opportunities Fund family: 5 vehicles across 3 generations · adviser of record Portfolio Advisors LLC · 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
- 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
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Related Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
PADCOF III GP, LLC
Promoter · Darien, CT
"The General Partner of the Issuer (the ""GP"")."
Portfolio Advisors, LLC
Promoter · Darien, CT
The Investment Manager of the Issuer.
William J. Indelicato
Executive Officer · Darien, CT
Managing Member of the General Partner of the Issuer.
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.
Equus Financial Consulting LLCCRD 131449 on BrokerCheck
New Canaan, CT · Soliciting in AL, AR, AZ, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV
Stifel, Nicolaus & Company, IncorporatedCRD 793 on BrokerCheck
St. Louis, MO · Soliciting in all states
EBW Capital Limited
Associated broker-dealer: None · London, X0 and outside the United States
Lytton Financial Inc.
Associated broker-dealer: None · Toronto, A6 and outside the United States
Falcom International Ltda
Associated broker-dealer: None · Santiago, F3 and outside the United States
Eugene Investment & Securities Co Ltd
Associated broker-dealer: None · Seoul, M5 and outside the United States
CrownRock Partners Co.
Associated broker-dealer: None · Seoul, M5 and outside the United States
Questions About PA Direct Credit Opportunities Fund III (Offshore), L.P.
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is PA Direct Credit Opportunities Fund III (Offshore), L.P.?
PA Direct Credit Opportunities Fund III (Offshore), L.P. is a Cayman Islands limited partnership that filed a Form D with the SEC on April 30, 2021 as a private equity fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7) for an offering of pooled investment fund interests.
Is PA Direct Credit Opportunities Fund III (Offshore), L.P. legit?
AltStreet does not rate legitimacy; it reports the public record. PA Direct Credit Opportunities Fund III (Offshore), L.P. filed a Form D with the SEC on April 30, 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 $397,900,000 sold to 61 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. 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 PA Direct Credit Opportunities Fund III (Offshore), L.P. 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 PA Direct Credit Opportunities Fund III (Offshore), L.P. 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 PA Direct Credit Opportunities Fund III (Offshore), L.P. raised?
PA Direct Credit Opportunities Fund III (Offshore), L.P. reported $397,900,000 sold from 61 investors of a $397,900,000 total offering as of the Form D filed April 30, 2021.
Who can invest in PA Direct Credit Opportunities Fund III (Offshore), L.P.?
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 filing lists the minimum investment as $0, meaning no minimum was stated.
What is the minimum investment in PA Direct Credit Opportunities Fund III (Offshore), L.P.?
The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.
Who is selling PA Direct Credit Opportunities Fund III (Offshore), L.P. and how are they paid?
The Form D names Equus Financial Consulting LLC (CRD 131449); Stifel, Nicolaus & Company, Incorporated (CRD 793); EBW Capital Limited, associated with None; Lytton Financial Inc., associated with None and 3 others as recipients of sales compensation soliciting in AL, AR, AZ, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV.
Who is behind PA Direct Credit Opportunities Fund III (Offshore), L.P.?
The Form D lists 3 related persons: PADCOF III GP, LLC, promoter ("The General Partner of the Issuer (the ""GP"")."); Portfolio Advisors, LLC, promoter (The Investment Manager of the Issuer); William J. Indelicato, executive officer (Managing Member of the General Partner of the Issuer). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is PA Direct Credit Opportunities Fund III (Offshore), L.P. located?
The issuer's address on its SEC filings is 9 Old Kings Highway South, Darien, CT 06820. Its phone number of record is (203) 662-3456. It is organized under the laws of Cayman Islands.
How long is the PA Direct Credit Opportunities Fund III (Offshore), L.P. 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; 6 amendments are on record for this CIK.
How large is PA Direct Credit Opportunities Fund III (Offshore), L.P.?
The issuer declined to disclose its revenue 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.