Capstone Equity Replacement Fund (Cayman) Ltd.
Capstone Equity Replacement Fund (Cayman) Ltd. is a hedge fund based in George Town, Grand Cayman, Cayman Islands. According to its most recent Form D, filed May 21, 2026, the fund has sold $283,681,805 of interests to 9 investors since its first sale in Aug 2017. 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 Capstone Investment Advisors, LLC; Boris Onefater; Geoff Ruddick.
Performance
No verified returns have been reported for this fund. As a rough guide, Capstone Investment Advisors, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +7.3% 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 +55.9% (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
- $283,681,805Cumulative sales reported on Form D
- Investors
- 9
- First sale
- Aug 1, 2017
- 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
- Capstone Investment Advisors, LLC; Boris Onefater; Geoff Ruddick
- Latest Form D
- May 21, 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 Capstone Equity Replacement Fund (Cayman) Ltd.
What is the minimum investment for Capstone Equity Replacement Fund (Cayman) Ltd.?
According to its latest Form D, filed May 21, 2026, the minimum investment Capstone Equity Replacement Fund (Cayman) Ltd. accepts from an outside investor is $100,000.
Who can invest in Capstone Equity Replacement Fund (Cayman) Ltd.?
Capstone Equity Replacement Fund (Cayman) 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 Capstone Equity Replacement Fund (Cayman) Ltd. raised?
Capstone Equity Replacement Fund (Cayman) Ltd. reports $283,681,805 sold from 9 investors on its Form D filed May 21, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Capstone Equity Replacement Fund (Cayman) Ltd. based?
Capstone Equity Replacement Fund (Cayman) Ltd. is based in George Town, Grand Cayman, Cayman Islands and is managed by Capstone Investment Advisors, LLC.
When did Capstone Equity Replacement Fund (Cayman) Ltd. launch?
Capstone Equity Replacement Fund (Cayman) Ltd. reports its first sale in Aug 2017.
Size compared with every hedge fund
Raised more than 66% of the 2,363 hedge funds based in Cayman Islands, and more than 74% of all 10,308 that report sales.