Penn Legacy Trust LLC is a private equity fund based in Austin, Texas. According to its most recent Form D, filed Sep 23, 2026, it has sold $1,999,998 of interests to 1 investor since its first sale in Aug 2026. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. 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 Duncan Penn; Gatsby Management LLC.
- Total raised
- $1,999,998Cumulative sales reported on Form D
- Investors
- 1
- First sale
- Aug 17, 2026
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Duncan Penn; Gatsby Management LLC
- Latest Form D
- Sep 23, 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. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Penn Legacy Trust LLC
What is the minimum investment for Penn Legacy Trust LLC?
Penn Legacy Trust LLC's latest Form D, filed Sep 23, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Penn Legacy Trust LLC?
Penn Legacy Trust LLC is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Penn Legacy Trust LLC raised?
Penn Legacy Trust LLC reports $1,999,998 sold from 1 investor on its Form D filed Sep 23, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Penn Legacy Trust LLC based?
Penn Legacy Trust LLC is based in Austin, Texas and is managed by Gatsby Management, LLC.
When did Penn Legacy Trust LLC launch?
Penn Legacy Trust LLC reports its first sale in Aug 2026, 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 private equity fund
Raised more than 53% of the 1,472 private equity funds based in Texas, and more than 26% of all 9,142 that report sales.