BIL, Ltd. is a hedge fund based in Grand Cayman, Cayman Islands. According to its most recent Form D, filed Jun 23, 2026, the fund has sold $8,751,352,010 of interests to 286 investors since its first sale in Oct 1998. The minimum investment it accepts from an outside investor is $100,000. 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 Alaina Danley; Lori Webb-Griffith; Bracebridge Capital, LLC.
Performance
No verified returns have been reported for this fund. As a rough guide, Bracebridge Capital, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated -1.1% 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 +31.1% (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.
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- Total raised
- $8,751,352,010Cumulative sales reported on Form D
- Investors
- 286
- First sale
- Oct 1, 1998
- Minimum investment
- $100,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Alaina Danley; Lori Webb-Griffith; Bracebridge Capital, LLC
- Latest Form D
- Jun 23, 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 BIL, Ltd.
What is the minimum investment for BIL, Ltd.?
According to its latest Form D, filed Jun 23, 2026, the minimum investment BIL, Ltd. accepts from an outside investor is $100,000.
Who can invest in BIL, Ltd.?
BIL, 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 BIL, Ltd. raised?
BIL, Ltd. reports $8,751,352,010 sold from 286 investors on its Form D filed Jun 23, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is BIL, Ltd. based?
BIL, Ltd. is based in Grand Cayman, Cayman Islands and is managed by Bracebridge Capital, LLC.
When did BIL, Ltd. launch?
BIL, Ltd. reports its first sale in Oct 1998.
Size compared with every hedge fund
Raised more than 99% of the 2,363 hedge funds based in Cayman Islands, and more than 99% of all 10,308 that report sales.
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