AltMountain

HEmerald Water Fund, L.P.

Long Grove, IL · CIK 2042965
Emerging506(c)

HEmerald Water Fund, L.P. is a hedge fund based in Long Grove, Illinois. According to its most recent Form D, filed Oct 28, 2026, the fund has sold $6,600,000 of interests to 6 investors since its first sale in Jul 2025. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include HEmerald Water Capital, L.L.C; HEmerald Water GP, L.L.C; Junli He.

Performance

No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to AltMountain directly.

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Total raised
$6,600,000Cumulative sales reported on Form D
Investors
6
First sale
Jul 1, 2025
Minimum investment
None set
Who can invest
Accredited investorsSection 3(c)(1): up to 100 beneficial owners
Offering exemption
Rule 506(c)May advertise; investors must be verified as accredited
Key people and entities
HEmerald Water Capital, L.L.C; HEmerald Water GP, L.L.C; Junli He
Latest Form D
Oct 28, 2026

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 HEmerald Water Fund, L.P.

What is the minimum investment for HEmerald Water Fund, L.P.?

HEmerald Water Fund, L.P.'s latest Form D, filed Oct 28, 2026, does not set a minimum investment. Managers can still require one in the offering documents.

Who can invest in HEmerald Water Fund, L.P.?

HEmerald Water Fund, L.P. is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.

How much has HEmerald Water Fund, L.P. raised?

HEmerald Water Fund, L.P. reports $6,600,000 sold from 6 investors on its Form D filed Oct 28, 2026. This is cumulative sales since the offering began, not current assets or performance.

Where is HEmerald Water Fund, L.P. based?

HEmerald Water Fund, L.P. is based in Long Grove, Illinois.

When did HEmerald Water Fund, L.P. launch?

HEmerald Water Fund, L.P. reports its first sale in Jul 2025, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).

Size compared with every hedge fund

Raised more than 29% of the 323 hedge funds based in Illinois, and more than 17% of all 10,308 that report sales.

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All hedge funds in Illinois · Emerging managers