iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC
Raised
Pre-open
Investors
—
Min Invest
None stated
AltStreet Analysis
·Generated from EDGAR primary sources
This is a Cayman Islands segregated portfolio company (SPC) structured as an offshore access fund, feeding into HPS Net Lease Income REIT, filed under the iCapital platform via promoter iCapital Advisors, LLC. The Form D is an original filing claiming the 506(b) exemption with no capital raise, investor count, or first sale date yet disclosed, consistent with a newly launched or pre-open offering.
Within alternative investments, this vehicle fits the pattern of offshore feeder/access funds that allow non-U.S. or qualifying investors to gain exposure to a U.S.-domiciled institutional strategy (here, a net lease income REIT) through a Cayman SPC wrapper. The 506(b) exemption and lack of disclosed minimum investment are typical for private placement access funds distributed through intermediary platforms rather than direct retail offerings.
Data Flags
EDGAR Filing Data
Form D — Primary Source
View on SEC.govRelated Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
- iCapital Advisors, LLC
Promoter · New York, NY
Martin Steyn
Director · New York, NY
Christopher Ebanks
Director · New York, NY
Michael Stanton
Executive Officer · New York, NY
Questions About iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC?
iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC is an issuer that filed a Form D with the SEC on October 23, 2026. The filing claims 506(b).
Is iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC legit?
AltStreet does not rate legitimacy; it reports the public record. iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC filed a Form D with the SEC on October 23, 2026 claiming 506(b). A Form D is a notice of an exempt offering, not a review or approval of it. 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 iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC 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 iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC claimed 506(b) 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 iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC raised?
iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC reported no amount sold as of the Form D filed October 23, 2026.
Who is selling iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC and how are they paid?
The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly.
Where is iCapital - HPS Net Lease Income REIT Offshore Access Fund SPC located?
The issuer's address on its SEC filings is C/O Compliance Department, 60 East 42nd Street, 24th Floor, New York, NY 10165. Its phone number of record is 212-994-7400. It is organized under the laws of Cayman Islands.
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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.