Act IPulse
Changes: no material changes on record
Filled in full: 10 of 15 · demand stayed within the cap every window
Q1-26 · within cap · 100% honored · click a window to replay it below
Last 5 distributions for Class I: 03/31/24 $0.3600, NII $0.0000, return of capital $0.0000; 09/30/24 $0.3600, NII $0.0000, return of capital $0.0000; 03/31/25 $0.8700, NII $0.0000, return of capital $0.0000; 09/30/25 $0.8700, NII $0.0000, return of capital $0.0000; 03/31/26 $0.5300, NII $0.0000, return of capital $0.0000
NII · realized gains · return of capital · components not disclosed · last 5 declarations, Class I
Annual coverage · Class I · where each year’s distribution came from
| Year | $/sh | from NII | from gains | return of capital | Read |
|---|---|---|---|---|---|
| 2026 | $0.5300 | 0% | 100% | 0% | Low ROC |
| 2025 | $1.7400 | 0% | 100% | 0% | Low ROC |
| 2024 | $0.7200 | 0% | 100% | 0% | Low ROC |
Return of capital is the portion paid from invested principal rather than income or realized gains; a sustained high reading erodes NAV. Annual roll-up of the same filings charted above.
Strategy mix
| Fund interests · 343 |
| Secondary · 21 |
| Co-investment · 11 |
| Direct · 1 |
mixed percent bases in this cohort — totals not computed
| Exposure | Kind | Sector | Geography | Fair value | % |
|---|---|---|---|---|---|
| AXA IM Prime Genesis PE Secondaries Fund | Secondary fund | Secondary fund-of-funds (LP interest) | Luxembourg (domicile) | $445M | 11.2% |
| Janus TopCo Limited | Co-investment | Direct/co-investment (equity holding co.) | Guernsey (holding co.) | $262M | 6.6% |
| BSP Solstice Investors L.P. (BCE) | Secondary fund | Secondary fund (LP interest) | US | $258M | 6.5% |
| BSP Solstice Investors L.P. (AD) | Secondary fund | Secondary fund (LP interest) | US | $243M | 6.1% |
| SkyKnight Capital II CV B, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $121M | 3.0% |
| Golden Acquisition Fund LP | Secondary fund | Secondary fund (LP interest) | US | $116M |
Modules shown reflect what this fund discloses — questions that don't apply to this vehicle type are omitted.
The balance sheet the latest filing stated and the NAV / subscription credit facility an evergreen vehicle runs against its portfolio — these funds carry no traded-debt balance sheet, so the line is the leverage.
Commitment pacing — how much capital is committed to underlying funds and deals, how much is called versus still callable, and commitment as a multiple of NAV. The deployment story an evergreen fund reports in place of a draw-down LP IRR.
Exposure concentration — sector and geographic mix with a Herfindahl over each, and how much of the book is named at the issuer level versus rolled into sized-but-unnamed buckets.
Cell intensity reflects each fund's % of NAV in the named issuer. Empty cells mean the fund doesn't disclose that name in its most-recent filing — not necessarily that it isn't held.
Source: SEC NPORT / 10-K issuer-level disclosures across AltHarbor's PE catalog. Aggregate buckets, fund-of-fund interests, and cash equivalents are excluded — only single-name issuers compared.
Valuation opacity — how much of the book is marked to model (Level III) or carried at an underlying fund NAV, and the net unrealized mark behind the reported value.
Hard-to-value
98.5%Level III + NAV expedientLevel III
3.7%mark-to-modelNAV expedient
94.8%fund-of-funds NAVNet unrealized
$946Mcost → fair value98.5% of investments are marked to model (Level III) or carried at the NAV of an underlying fund — the higher this share, the more the reported NAV depends on unobservable inputs rather than market prices. The full L1 / L2 / L3 ladder and the disclosed WACC / exit-multiple inputs render in The Book · Marks; balance-sheet leverage under How levered?. Concentration of those marks by sector and geography is in How concentrated?.
Cost basis $4.32B → fair value $5.27B ($946M net unrealized).
The mark and the inputs behind it — the Level I / II / III fair-value hierarchy and the unobservable inputs render in The Book · Marks.
The management + incentive structure and the per-class servicing / distribution load behind the headline rate.
NAV-based total return by share class and the per-class NAV trajectory — what an evergreen, NAV-struck fund actually reports (not a draw-down LP multiple).
Exit terms — repurchase policy and the window-by-window tender record.
TodayRepurchase policy, window-by-window tender history and offering progress render in Liquidity.
Next laneA forward-funding obligation applies only to credit funds with unfunded loan commitments; this fund discloses none.
exit terms are fully surfaced in the Liquidity act.
fund silence and AltHarbor coverage are different facts — both stated per family
| Disclosure family | Status | Latest source | |
|---|---|---|---|
| Exit mechanics → | Disclosed | Registration statement · filed Jul 29 | |
| Tender record → | Disclosed | Amended tender offer · filed May 8 | |
| Per-class economics → | Disclosed | 486BPOS filing · filed Jul 30 | |
| Distribution composition → | Disclosed | Shareholder report · filed Jun 4 | |
| Fair-value hierarchy → | Disclosed | Shareholder report · filed Jun 4 | |
| Unobservable inputs → | Disclosed | Shareholder report · filed Jun 4 | |
| Credit measures → | Not yet covered by AltHarbor | — | |
| Portfolio composition → | Disclosed | Portfolio holdings filing · filed Feb 27 |
Changes: no material changes on record
| 2.9% |
| FinEquity Holdings, LLC | Portfolio company | Direct investment (equity holding co.) | US | $114M | 2.9% |
| CF24XB SCSp | Continuation vehicle | Continuation fund (LP interest) | US/Luxembourg | $111M | 2.8% |
| APH Extended Value Fund H LP | Continuation vehicle | Secondary/extended-value fund (LP interest) | US | $97.0M | 2.4% |
| Hellman & Friedman Capital Partners IX, L.P. | Fund interest | Buyout fund (LP interest) | US | $94.9M | 2.4% |
| Green Equity Investors CF IV-C, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $82.3M | 2.1% |
| Hellman & Friedman Capital Partners IX, L.P. (KY vehicle) | Fund interest | Buyout fund (LP interest) | Cayman | $61.0M | 1.5% |
| Bain Capital Beacon Holdings, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $60.1M | 1.5% |
| Hellman & Friedman Capital Partners X, L.P. | Fund interest | Buyout fund (LP interest) | US | $58.9M | 1.5% |
| New Mountain SRC Continuation Fund, L.P. | Continuation vehicle | Continuation fund (LP interest) | US | $58.1M | 1.5% |
top 15 of 376 disclosed exposures shown
15 of 376 rows are manager-published, not from a SEC filing
A per-share NAV composition is the monthly disclosure of NAV-struck perpetual REITs; this fund’s valuation — the Level I / II / III fair-value hierarchy and the unobservable inputs behind the marks — renders in The Book · Marks
Stated fees · mgmt solid · servicing hatch · distribution hollow · bars share a scale · click a class to read the act through it
| Cls | Net assets | % fund | Stated fee | Min initial | Channel |
|---|---|---|---|---|---|
| Aretail | $1.96B | 54.2% | Class A stated fees: management 1.4 percent, servicing 0.8 percent2.25%+3.5% load | $25,000 | Brokerage / financial intermediary |
| Iinstitutional | $1.63B | 45.1% | Class I stated fees: management 1.4 percent1.40%+0.0% load | $1,000,000 | Institutional |
| Dretail | $27.9M | 0.8% | Class D stated fees: management 1.4 percent, servicing 0.3 percent1.65%+0.0% load | $25,000 | Advisory / intermediary |
every filing on record · one tick per filing · hue = type, height = rarity
all 68Portfolio holdings filing 17Amended tender offer 17Tender offer filing 15Imported record 7Shareholder report 4Semiannual shareholder report 4Prospectus supplement 2486BPOS filing 1Registration statement 1
| Filed | Type | Accession |
|---|---|---|
| 06/04/26 · period 03/31/26 | N-CSRShareholder report | 0001104659-26-070470 ↗ |
| 06/05/25 · period 03/31/25 | N-CSRShareholder report | 0001104659-25-056793 ↗ |
| 06/07/24 · period 03/31/24 | N-CSRShareholder report | 0001104659-24-069508 ↗ |
| 06/06/23 · period 03/31/23 | N-CSRShareholder report | 0001104659-23-068448 ↗ |
Cap: 5.0% NAV/qtr (all windows) · All 15 windows filled in full
| Window | Req ÷ cap | Requested | Accepted | Price |
|---|---|---|---|---|
| Q1-26 | Not disclosed | 3.3M sh | 3.3M sh | $38.94 |
| Q4-25 | Not disclosed | 679.5K sh | 679.5K sh | $37.65 |
| Q3-25 | Not disclosed | 832.0K sh | 832.0K sh | $37.69 |
| Q2-25 | Not disclosed | 1.6M sh | 1.6M sh | $43.88 |
| Q1-25 | Not disclosed | 1.1M sh | 1.1M sh | $35.45 |
| Q4-24 | Not disclosed | 669.5K sh | 669.5K sh | $34.07 |
| Q3-24 | Not disclosed | 557.1K sh | 557.1K sh | $33.61 |
| Q2-24 | Not disclosed | 12.8K sh | 12.8K sh | $32.46 |
| Q1-24 | Not disclosed | 11.9K sh | 11.9K sh | $30.41 |
| Q4-23 | Not disclosed | 23.4K sh | 23.4K sh | $29.34 |
| Q3-23 | Not disclosed | 0 sh | 0 sh | Not disclosed |
| Q2-23 | Not disclosed | 0 sh | 0 sh | Not disclosed |
| Q1-23 | Not disclosed | 0 sh | 0 sh | Not disclosed |
| Q4-22 | Not disclosed | 0 sh | 0 sh | Not disclosed |
| Q3-22 | Not disclosed | 0 sh | 0 sh | Not disclosed |
requested basis: shares tendered · rows expand (tap or e)
Windows observed: 15 · median open-to-pricing 28d · derived from filed window dates
hover or touch the chart to scrub
Total assets
$5.30BTotal liabilities
$1.01BNet assets
$4.29BLiabilities / net assets
0.24×derivedTotal assets / net assets
1.24×derivedNot disclosed by this fund: assets invested
0001049169-26-001469 period 2026-03-31: NPORT-P fundInfo totalAssets, totalLiabs, and netAssets.
Unfunded
$1.28Bstill callable · 03/31/26| Strategy | Committed | Funded | % funded | Unfunded |
|---|---|---|---|---|
| Co-investment | — | — | $29.5M | |
| Primary | — | — | $229M | |
| Secondary | — | — | $1.02B |
| Filed | Filing | Period / note |
|---|---|---|
| 06/04/26 | Shareholder report | 03/31/26 |
| 05/28/26 | Portfolio holdings filing | 03/31/26 |
| 05/21/26 | Amended tender offer | |
| 05/08/26 | Amended tender offer | |
| 03/03/26 | Tender offer filing | |
| 03/02/26 | Portfolio holdings filing | 12/31/25 |
| 02/27/26 | Portfolio holdings filing | 12/31/25 |
| 02/25/26 | Prospectus supplement | |
| 02/10/26 | Amended tender offer | |
| 02/04/26 | Amended tender offer | |
| 12/23/25 | Prospectus supplement | |
| 12/05/25 | Semiannual shareholder report | 09/30/25 |
| 12/02/25 | Tender offer filing | |
| 11/28/25 | Portfolio holdings filing | 09/30/25 |
| 11/05/25 | Amended tender offer | |
| 09/02/25 | Tender offer filing | |
| 08/29/25 | Portfolio holdings filing | 06/30/25 |
| 08/05/25 | Amended tender offer | |
| 07/30/25 | 486BPOS filing | |
| 07/29/25 | Registration statement | |
| 06/05/25 | Shareholder report | 03/31/25 |
| 06/02/25 | Tender offer filing | |
| 05/30/25 | Portfolio holdings filing | 03/31/25 |
| 05/08/25 | Amended tender offer | |
| 03/03/25 | Tender offer filing | |
| 02/28/25 | Portfolio holdings filing | 12/31/24 |
| 02/06/25 | Amended tender offer | |
| 12/06/24 | Semiannual shareholder report | 09/30/24 |
| 12/03/24 | Tender offer filing | |
| 11/29/24 | Portfolio holdings filing | 09/30/24 |
| 11/05/24 | Amended tender offer | |
| 09/03/24 | Tender offer filing | |
| 08/29/24 | Portfolio holdings filing | 06/30/24 |
| 08/05/24 | Amended tender offer | |
| 06/07/24 | Shareholder report | 03/31/24 |
| 05/31/24 | Tender offer filing | |
| 05/30/24 | Portfolio holdings filing | 03/31/24 |
| 05/03/24 | Amended tender offer | |
| 03/04/24 | Tender offer filing | |
| 02/29/24 | Portfolio holdings filing | 12/31/23 |
| 02/07/24 | Amended tender offer | |
| 12/06/23 | Semiannual shareholder report | 09/30/23 |
| 12/01/23 | Tender offer filing | |
| 11/29/23 | Portfolio holdings filing | 09/30/23 |
| 10/10/23 | Amended tender offer | |
| 09/01/23 | Tender offer filing | |
| 08/28/23 | Portfolio holdings filing | 06/30/23 |
| 07/12/23 | Amended tender offer | |
| 06/06/23 | Shareholder report | 03/31/23 |
| 06/01/23 | Tender offer filing |
Showing the latest 50 of 61 — the complete filing index is above.
Committed line
$1.70Bmax facility commitment · 03/31/26Drawn
$970Moutstanding · 57.1% of line · 03/31/26| Facility / lender | Committed | Drawn | Rate | Commit fee | Maturity |
|---|---|---|---|---|---|
| Revolving Credit FacilityBarclays Bank PLC (agent) + UBS/Mizuho/RBC/MUFG/CIBC/BNP syndicatemulti-ccy | $1.70B | $970M | 5.2% | — | 03/05/27 |
| Class | YTD | 1Y | 3Y | SI |
|---|---|---|---|---|
| I | 14.8% | 9.6% | 15.5% | 13.9% |
| A | 5.7% | 8.6% | — | 16.4% |
| D | 6.0% | 9.2% | 15.1% | 15.1% |
Each cell is the latest disclosed return for that window — windows are filed on different cadences, so hover any figure for its own as-of date. Returns are NAV-based total returns net of fund expenses, as the manager states them.
Raw NAV per unit as disclosed each period.
| Quarter | I | A | D |
|---|---|---|---|
| 09/30/25 | 5.7% | 6.0% | |
| 09/30/24 | 14.8% | 13.8% | 14.5% |
| 09/30/23 | 10.5% | 10.3% | |
| 09/30/22 | −0.0% | −1.5% |
Not shown: IRR, MOIC, TVPI, DPI and PME. These are draw-down LP metrics; this is an evergreen, NAV-struck fund that reports a NAV-based total return, so an LP cash-flow multiple would misrepresent the vehicle — it is omitted by design, not missing.
Geography HHI
5,806concentratedNamed at issuer
100.0%of disclosed FVDisclosed FV / NAV
0.61×~1.0× expectedGeographic mix
100%-stacked share of disclosed allocation · sweep to read
Σ 100.0% disclosed · as of 09/30/25 · segments share of disclosed total
Of $2.61B disclosed fair value, $2.61B (100.0%) is named at the issuer level across 361 positions; — sits in 0 sized-but-unnamed buckets. Higher named share = more transparent single-name risk. Strategy mix renders in The Book; the full company register in The Names.
per-company % as filed — the percent basis varies by filer; fair value is the comparable figure
ASC-820 hierarchy · band width = share · hover to read
L1 $78.7M 1.5% · L2 $0 0.0% · L3 $194M 3.7% · NAVexp $5.00B 94.8%
| Category | Ending | Activity | Coverage |
|---|---|---|---|
| Level 3 Investments | $194M | Ending balance only | Ending Balance Only |
NAV practical expedient · 1 observation · $5.27B fair value · 03/31/26
Management fee
1.4%annualIncentive fee
12.5%12.5% catch-up| Class | Channel | Servicing | Distribution | Total ex-incentive |
|---|---|---|---|---|
| A | Retail broker-dealer / front-load class | 0.8% | — | 2.3% |
| D | Fee-based intermediary / RIA | 0.3% | — | 1.6% |
| I | Institutional / direct | 0.0% | — | 1.4% |
Management fee is charged on managed assets (total assets minus accrued liabilities other than borrowings); all share classes; annual rate.
The two-part incentive-fee mechanics (lookback / per-class expense caps & recapture) are not yet surfaced — they need a dedicated terms table still in the schema queue.