Deepwater Public-Private Fund, LP
Deepwater Public-Private Fund, LP is a hedge fund based in Minneapolis, Minnesota. According to its most recent Form D, filed Jun 18, 2026, the fund has sold $39,006,555 of interests to 93 investors since its first sale in Jul 2021. 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. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Deepwater Asset Management, LLC; Deepwater Public-Private Fund GP LLC.
Performance
No verified returns have been reported for this fund. As a rough guide, Deepwater Asset Management, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +21.6% 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 +38.9% (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
- $39,006,555Cumulative sales reported on Form D
- Investors
- 93
- First sale
- Jul 1, 2021
- 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
- Deepwater Asset Management, LLC; Deepwater Public-Private Fund GP LLC
- Latest Form D
- Jun 18, 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 Deepwater Public-Private Fund, LP
What is the minimum investment for Deepwater Public-Private Fund, LP?
Deepwater Public-Private Fund, LP's latest Form D, filed Jun 18, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Deepwater Public-Private Fund, LP?
Deepwater Public-Private 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 Deepwater Public-Private Fund, LP raised?
Deepwater Public-Private Fund, LP reports $39,006,555 sold from 93 investors on its Form D filed Jun 18, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Deepwater Public-Private Fund, LP based?
Deepwater Public-Private Fund, LP is based in Minneapolis, Minnesota and is managed by Deepwater Asset Management, LLC.
When did Deepwater Public-Private Fund, LP launch?
Deepwater Public-Private Fund, LP reports its first sale in Jul 2021, 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 57% of the 70 hedge funds based in Minnesota, and more than 41% of all 10,307 that report sales.