Ilex Offshore Fund Ltd
Ilex Offshore Fund Ltd is a hedge fund based in George Town, Grand Cayman, Cayman Islands. According to its most recent Form D, filed Jul 10, 2026, the fund has sold $1,142,367,000 of interests to 32 investors since its first sale in Jul 2023. 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 Monette Windsor; Ilex Capital Partners (UK) LLP; Nicholas Tappin.
Performance
No verified returns have been reported for this fund. As a rough guide, Ilex Capital Partners (UK) LLP, which manages it, disclosed U.S. stock holdings that returned an estimated -8.2% 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 -14.1% (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
- $1,142,367,000Cumulative sales reported on Form D
- Investors
- 32
- First sale
- Jul 1, 2023
- 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
- Monette Windsor; Ilex Capital Partners (UK) LLP; Nicholas Tappin
- Latest Form D
- Jul 10, 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 Ilex Offshore Fund Ltd
What is the minimum investment for Ilex Offshore Fund Ltd?
According to its latest Form D, filed Jul 10, 2026, the minimum investment Ilex Offshore Fund Ltd accepts from an outside investor is $100,000.
Who can invest in Ilex Offshore Fund Ltd?
Ilex Offshore Fund 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 Ilex Offshore Fund Ltd raised?
Ilex Offshore Fund Ltd reports $1,142,367,000 sold from 32 investors on its Form D filed Jul 10, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Ilex Offshore Fund Ltd based?
Ilex Offshore Fund Ltd is based in George Town, Grand Cayman, Cayman Islands and is managed by Ilex Capital Partners (UK) LLP.
When did Ilex Offshore Fund Ltd launch?
Ilex Offshore Fund Ltd reports its first sale in Jul 2023.
Size compared with every hedge fund
Raised more than 88% of the 2,363 hedge funds based in Cayman Islands, and more than 91% of all 10,307 that report sales.