Pro Cyclist Institutional Fund, LP
Pro Cyclist Institutional Fund, LP is a hedge fund based in Boulder, Colorado. According to its most recent Form D, filed Jun 1, 2026, the fund has sold $35,600,000 of interests to 44 investors since its first sale in Feb 2022. The minimum investment it accepts from an outside investor is $500,000. 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. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Black Swift Partners, LLC; Black Swift Group, LLC; Gregory Casals.
Performance
No verified returns have been reported for this fund. As a rough guide, Black Swift Group, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +16.7% 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 +41.0% (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.
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- Total raised
- $35,600,000Cumulative sales reported on Form D
- Investors
- 44
- First sale
- Feb 1, 2022
- Minimum investment
- $500,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Black Swift Partners, LLC; Black Swift Group, LLC; Gregory Casals
- Latest Form D
- Jun 1, 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 Pro Cyclist Institutional Fund, LP
What is the minimum investment for Pro Cyclist Institutional Fund, LP?
According to its latest Form D, filed Jun 1, 2026, the minimum investment Pro Cyclist Institutional Fund, LP accepts from an outside investor is $500,000.
Who can invest in Pro Cyclist Institutional Fund, LP?
Pro Cyclist Institutional 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 Pro Cyclist Institutional Fund, LP raised?
Pro Cyclist Institutional Fund, LP reports $35,600,000 sold from 44 investors on its Form D filed Jun 1, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Pro Cyclist Institutional Fund, LP based?
Pro Cyclist Institutional Fund, LP is based in Boulder, Colorado and is managed by Black Swift Group, LLC.
When did Pro Cyclist Institutional Fund, LP launch?
Pro Cyclist Institutional Fund, LP reports its first sale in Feb 2022, 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 75% of the 114 hedge funds based in Colorado, and more than 40% of all 10,308 that report sales.