INVESTORS SHOULD CAREFULLY CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE APPLICABLE iDIRECT FUND (THE “FUND”) BEFORE INVESTING. THIS AND OTHER IMPORTANT INFORMATION ABOUT THE FUND IS CONTAINED IN THE FUND’S PROSPECTUS, WHICH CAN BE OBTAINED BY CALLING [iDPE: 877-562-1686 | iDPC: 833-640-7393 | iDHF: 833-446-5656]. THE FUND’S PROSPECTUS SHOULD BE READ CAREFULLY BEFORE INVESTING.
RISKS ASSOCIATED WITH AN INVESTMENT IN THE FUND
The discussion of the various risks associated with the Fund and the Shares (as defined and described in the Fund’s Prospectus) are not intended to be a complete enumeration or explanation of the risks involved in an investment in the Fund. The Fund should be considered a speculative investment and involves a high degree of risk and may involve loss of capital, up to the entire amount of a shareholder’s investment. The Fund does not currently intend to list its Shares for trading on any securities exchange, and the Fund does not expect any secondary market to develop for its Shares in the foreseeable future, if ever.
iDirect Private Credit Fund
The nature of private credit can result in a lack of transparency due to limited information, and the risk of loss is increased due to speculative strategies employed by the Fund, including investing assets in private equity, private credit, early stage and other private investments which may not perform as expected. More importantly, Fund and underlying fund shares will not be listed on any national securities exchange and are subject to restrictions on transferability, thereby making them illiquid.
Other risks include, but are not limited to, market risk, concentration risk, and potentially less diversification due to the substantial portion of Fund assets invested in manager-specific private credit. The Fund is also subject to the risks of leverage, higher fees and additional layers of expenses, as well as the potential for greater volatility due to Fund assets invested in a limited number of securities, or a focus on particular sectors and geographical regions.
iDirect Private Credit Advisors, LLC (the "Adviser"), an affiliate of iCapital Markets LLC, serves as the investment adviser to the iDirect Private Credit Fund. The Adviser is registered as an investment adviser with the Securities and Exchange Commission; however, such registration does not imply a certain level of skill or training and no inference to the contrary should be made. For detailed information about the Adviser's services and fees, please read the Prospectus of the Fund, which can be found at https://www.sec.gov/edgar/searchedgar/companysearch.html or call 833.640.7393 to request a copy.
Each Fund is distributed by iCapital Markets LLC (“iCapital Markets”), a U.S. Securities and Exchange Commission (the “SEC”) registered broker-dealer and member of each of the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). These registrations and memberships in no way imply that the SEC, FINRA or SIPC have endorsed the entities, products or services discussed herein. iCapital Markets is a subsidiary of Institutional Capital Network, Inc. (d/b/a “iCapital”). iCapital is a registered trademark of Institutional Capital Network, Inc. Additional information is available upon request.
An affiliate of iCapital Markets serves as the investment adviser to each Fund (each an “Adviser”). Each Adviser is registered as an investment adviser with the SEC; however, such registration does not imply a certain level of skill or training and no inference to the contrary should be made. Each Adviser is exempt from registration with the Commodity Futures Trading Commission as a commodity pool operator.
Investors should be aware that iCapital Markets provides distribution services to each Fund and that iCapital Markets does not provide services to any investor, including any determination regarding whether an investment in the Fund is in the best interests of, or is suitable for, any investor. Investors should exercise their own judgment and/or consult with a professional advisor to determine whether an investment in the Fund is advisable.
A link to FINRA’s internet home page can be found here: https://www.finra.org/#/. A link to SIPC’s website can be found here: https://www.sipc.org/.
This website is for informational purposes only. This website is the property of iCapital and may not be shared, reproduced in any form, or referred to in any other publication, without express written permission of iCapital.
This website and any information included on it are not intended, and may not be relied on in any manner, as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security. Financial products, including investment funds, are complex and may be speculative and are not suitable for all investors. You should consult your personal accounting, tax and legal advisors to understand the implications of any investment specific to your personal financial situation. This website and the information contained on it is not intended to, and does not, address the financial objectives, situation or specific needs of any specific investor.
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