AltMountain

Capstone First Responder, LP

New York, NY · CIK 1983545 · Managed by Capstone Investment Advisors, LLC

Capstone First Responder, LP is a hedge fund based in New York, New York. According to its most recent Form D, filed May 21, 2026, the fund has sold $175,000,000 of interests to 1 investor since its first sale in Jul 2023. The filing does not set a minimum investment. 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 Paul Britton; Capstone Investment Advisors, LLC; Capstone Fund Services II, LLC.

Performance

13F estimate · public data only

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.

Is this your fund? Report your monthly returns · How performance works

Total raised
$175,000,000Cumulative sales reported on Form D
Investors
1
First sale
Jul 17, 2023
Minimum investment
None set
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
Paul Britton; Capstone Investment Advisors, LLC; Capstone Fund Services II, LLC
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 First Responder, LP

What is the minimum investment for Capstone First Responder, LP?

Capstone First Responder, LP's latest Form D, filed May 21, 2026, does not set a minimum investment. Managers can still require one in the offering documents.

Who can invest in Capstone First Responder, LP?

Capstone First Responder, 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 Capstone First Responder, LP raised?

Capstone First Responder, LP reports $175,000,000 sold from 1 investor on its Form D filed May 21, 2026. This is cumulative sales since the offering began, not current assets or performance.

Where is Capstone First Responder, LP based?

Capstone First Responder, LP is based in New York, New York and is managed by Capstone Investment Advisors, LLC.

When did Capstone First Responder, LP launch?

Capstone First Responder, LP reports its first sale in Jul 2023.

Size compared with every hedge fund

Raised more than 63% of the 2,544 hedge funds based in New York, and more than 67% of all 10,308 that report sales.

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