Palmas Fund, LLC is a hedge fund based in Chicago, Illinois. According to its most recent Form D, filed Jan 27, 2025, the fund has sold $2,400,000 of interests to 5 investors since its first sale in Mar 2024. The minimum investment it accepts from an outside investor is $500,000. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Brad Cohen; Lance Talkington; Michael Eugenides.
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
- $2,400,000Cumulative sales reported on Form D
- Investors
- 5
- First sale
- Mar 27, 2024
- Minimum investment
- $500,000
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Brad Cohen; Lance Talkington; Michael Eugenides
- Latest Form D
- Jan 27, 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 Palmas Fund, LLC
What is the minimum investment for Palmas Fund, LLC?
According to its latest Form D, filed Jan 27, 2025, the minimum investment Palmas Fund, LLC accepts from an outside investor is $500,000.
Who can invest in Palmas Fund, LLC?
Palmas Fund, LLC 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(b), which does not allow general advertising.
How much has Palmas Fund, LLC raised?
Palmas Fund, LLC reports $2,400,000 sold from 5 investors on its Form D filed Jan 27, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Palmas Fund, LLC based?
Palmas Fund, LLC is based in Chicago, Illinois.
When did Palmas Fund, LLC launch?
Palmas Fund, LLC reports its first sale in Mar 2024, 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 20% of the 323 hedge funds based in Illinois, and more than 10% of all 10,308 that report sales.