Prelude Structured Alternatives Master Fund, LP
Prelude Structured Alternatives Master Fund, LP is a hedge fund based in New York, New York. According to its most recent Form D, filed Feb 24, 2026, the fund has sold $2,412,932,339 of interests to 197 investors since its first sale in Feb 2020. The filing does not set a minimum investment. 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 Prelude Capital Partners, LLC; Prelude Capital Management, LLC; Cisco del Valle.
Performance
No verified returns have been reported for this fund. As a rough guide, Prelude Capital Management, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +15.2% 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 +49.5% (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
- $2,412,932,339Cumulative sales reported on Form D
- Investors
- 197
- First sale
- Feb 3, 2020
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Prelude Capital Partners, LLC; Prelude Capital Management, LLC; Cisco del Valle
- Latest Form D
- Feb 24, 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 Prelude Structured Alternatives Master Fund, LP
What is the minimum investment for Prelude Structured Alternatives Master Fund, LP?
Prelude Structured Alternatives Master Fund, LP's latest Form D, filed Feb 24, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Prelude Structured Alternatives Master Fund, LP?
Prelude Structured Alternatives Master Fund, LP 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 Prelude Structured Alternatives Master Fund, LP raised?
Prelude Structured Alternatives Master Fund, LP reports $2,412,932,339 sold from 197 investors on its Form D filed Feb 24, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Prelude Structured Alternatives Master Fund, LP based?
Prelude Structured Alternatives Master Fund, LP is based in New York, New York and is managed by Prelude Capital Management, LLC.
When did Prelude Structured Alternatives Master Fund, LP launch?
Prelude Structured Alternatives Master Fund, LP reports its first sale in Feb 2020.
Size compared with every hedge fund
Raised more than 96% of the 2,544 hedge funds based in New York, and more than 96% of all 10,308 that report sales.