AltMountain

MacKay Shields Defensive Bond Arbitrage Fund Ltd.

Hamilton, Bermuda · CIK 1502133 · Managed by Mackay Shields LLC
Offshore

MacKay Shields Defensive Bond Arbitrage Fund Ltd. is a hedge fund based in Hamilton, Bermuda. According to its most recent Form D, filed Oct 2, 2026, the fund has sold $640,943,303 of interests to 41 investors since its first sale in Nov 2004. The minimum investment it accepts from an outside investor is $5,000,000. 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 MacKay Shields LLC; Dawn Griffiths; Rene Bustamante.

Performance

13F estimate · public data only

No verified returns have been reported for this fund. As a rough guide, Mackay Shields LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +6.1% 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 +15.1% (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
$640,943,303Cumulative sales reported on Form D
Investors
41
First sale
Nov 1, 2004
Minimum investment
$5,000,000
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
MacKay Shields LLC; Dawn Griffiths; Rene Bustamante
Latest Form D
Oct 2, 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 MacKay Shields Defensive Bond Arbitrage Fund Ltd.

What is the minimum investment for MacKay Shields Defensive Bond Arbitrage Fund Ltd.?

According to its latest Form D, filed Oct 2, 2026, the minimum investment MacKay Shields Defensive Bond Arbitrage Fund Ltd. accepts from an outside investor is $5,000,000.

Who can invest in MacKay Shields Defensive Bond Arbitrage Fund Ltd.?

MacKay Shields Defensive Bond Arbitrage Fund 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 MacKay Shields Defensive Bond Arbitrage Fund Ltd. raised?

MacKay Shields Defensive Bond Arbitrage Fund Ltd. reports $640,943,303 sold from 41 investors on its Form D filed Oct 2, 2026. This is cumulative sales since the offering began, not current assets or performance.

Where is MacKay Shields Defensive Bond Arbitrage Fund Ltd. based?

MacKay Shields Defensive Bond Arbitrage Fund Ltd. is based in Hamilton, Bermuda and is managed by Mackay Shields LLC.

When did MacKay Shields Defensive Bond Arbitrage Fund Ltd. launch?

MacKay Shields Defensive Bond Arbitrage Fund Ltd. reports its first sale in Nov 2004.

Size compared with every hedge fund

Raised more than 81% of the 104 hedge funds based in Bermuda, and more than 85% of all 10,308 that report sales.

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