Bluespruce Research Fund LP is a hedge fund based in Chicago, Illinois. According to its most recent Form D, filed Mar 27, 2025, the fund has sold $21,230,000 of interests to 12 investors since its first sale in Apr 2024. The minimum investment it accepts from an outside investor is $5,000,000. 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 Edward Magnus; BlueSpruce Investments, LP; Timothy Hurd.
Performance
No verified returns have been reported for this fund. As a rough guide, Bluespruce, 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 +16.7% (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
- $21,230,000Cumulative sales reported on Form D
- Investors
- 12
- First sale
- Apr 1, 2024
- Minimum investment
- $5,000,000
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Edward Magnus; BlueSpruce Investments, LP; Timothy Hurd
- Latest Form D
- Mar 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 Bluespruce Research Fund LP
What is the minimum investment for Bluespruce Research Fund LP?
According to its latest Form D, filed Mar 27, 2025, the minimum investment Bluespruce Research Fund LP accepts from an outside investor is $5,000,000.
Who can invest in Bluespruce Research Fund LP?
Bluespruce Research 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 Bluespruce Research Fund LP raised?
Bluespruce Research Fund LP reports $21,230,000 sold from 12 investors on its Form D filed Mar 27, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Bluespruce Research Fund LP based?
Bluespruce Research Fund LP is based in Chicago, Illinois and is managed by Bluespruce.
When did Bluespruce Research Fund LP launch?
Bluespruce Research Fund LP reports its first sale in Apr 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 44% of the 323 hedge funds based in Illinois, and more than 31% of all 10,308 that report sales.