North Reef Opportunity Offshore Ltd
North Reef Opportunity Offshore Ltd is a hedge fund based in Laguna Beach, California. According to its most recent Form D, filed Mar 18, 2026, the fund has sold $15,400,000 of interests to 4 investors since its first sale in Apr 2025. 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 North Reef Capital Management LP; Ivana Faltysova; Sophia Dilbert.
Performance
No verified returns have been reported for this fund. As a rough guide, North Reef Capital Management LP, which manages it, disclosed U.S. stock holdings that returned an estimated -0.0% 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 +34.2% (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
- $15,400,000Cumulative sales reported on Form D
- Investors
- 4
- First sale
- Apr 1, 2025
- 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
- North Reef Capital Management LP; Ivana Faltysova; Sophia Dilbert
- Latest Form D
- Mar 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 North Reef Opportunity Offshore Ltd
What is the minimum investment for North Reef Opportunity Offshore Ltd?
North Reef Opportunity Offshore Ltd's latest Form D, filed Mar 18, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in North Reef Opportunity Offshore Ltd?
North Reef Opportunity Offshore 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 North Reef Opportunity Offshore Ltd raised?
North Reef Opportunity Offshore Ltd reports $15,400,000 sold from 4 investors on its Form D filed Mar 18, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is North Reef Opportunity Offshore Ltd based?
North Reef Opportunity Offshore Ltd is based in Laguna Beach, California and is managed by North Reef Capital Management LP.
When did North Reef Opportunity Offshore Ltd launch?
North Reef Opportunity Offshore Ltd reports its first sale in Apr 2025, 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 41% of the 1,060 hedge funds based in California, and more than 27% of all 10,308 that report sales.