AltMountain

Black Diamond Arbitrage LTD.

Camana Bay, Grand Cayman, Cayman Islands · CIK 1460879 · Managed by Carlson Capital, L.P.
Offshore

Black Diamond Arbitrage LTD. is a hedge fund based in Camana Bay, Grand Cayman, Cayman Islands. According to its most recent Form D, filed Sep 29, 2025, the fund has sold $307,756,321 of interests to 252 investors since its first sale in Mar 2000. The minimum investment it accepts from an outside investor is $50,000. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Clint Carlson; Carlson Capital, L.P; Leanne Golding.

Performance

13F estimate · public data only

No verified returns have been reported for this fund. As a rough guide, Carlson Capital, L.P., which manages it, disclosed U.S. stock holdings that returned an estimated -2.6% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +11.5% (S&P 500: +37.2%).

This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.

Is this your fund? Report your monthly returns · How performance works

Total raised
$307,756,321Cumulative sales reported on Form D
Investors
252
First sale
Mar 1, 2000
Minimum investment
$50,000
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
Clint Carlson; Carlson Capital, L.P; Leanne Golding
Latest Form D
Sep 29, 2025

From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction

Questions about Black Diamond Arbitrage LTD.

What is the minimum investment for Black Diamond Arbitrage LTD.?

According to its latest Form D, filed Sep 29, 2025, the minimum investment Black Diamond Arbitrage LTD. accepts from an outside investor is $50,000.

Who can invest in Black Diamond Arbitrage LTD.?

Black Diamond Arbitrage LTD. is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(b), which does not allow general advertising.

How much has Black Diamond Arbitrage LTD. raised?

Black Diamond Arbitrage LTD. reports $307,756,321 sold from 252 investors on its Form D filed Sep 29, 2025. This is cumulative sales since the offering began, not current assets or performance.

Where is Black Diamond Arbitrage LTD. based?

Black Diamond Arbitrage LTD. is based in Camana Bay, Grand Cayman, Cayman Islands and is managed by Carlson Capital, L.P..

When did Black Diamond Arbitrage LTD. launch?

Black Diamond Arbitrage LTD. reports its first sale in Mar 2000.

Size compared with every hedge fund

Raised more than 67% of the 2,363 hedge funds based in Cayman Islands, and more than 75% of all 10,308 that report sales.

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