Pentwater Unconstrained Fund LLC
Pentwater Unconstrained Fund LLC is a hedge fund based in Naples, Florida. According to its most recent Form D, filed Dec 29, 2025, the fund has sold $118,020,000 of interests to 6 investors since its first sale in Jul 2019. 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 David Zirin; Matthew Halbower; Pentwater Capital Management LP.
Performance
No verified returns have been reported for this fund. As a rough guide, Pentwater Capital Management LP, which manages it, disclosed U.S. stock holdings that returned an estimated -0.3% 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 -11.2% (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
- $118,020,000Cumulative sales reported on Form D
- Investors
- 6
- First sale
- Jul 1, 2019
- 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
- David Zirin; Matthew Halbower; Pentwater Capital Management LP
- Latest Form D
- Dec 29, 2025
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 Pentwater Unconstrained Fund LLC
What is the minimum investment for Pentwater Unconstrained Fund LLC?
Pentwater Unconstrained Fund LLC's latest Form D, filed Dec 29, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Pentwater Unconstrained Fund LLC?
Pentwater Unconstrained Fund LLC 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 Pentwater Unconstrained Fund LLC raised?
Pentwater Unconstrained Fund LLC reports $118,020,000 sold from 6 investors on its Form D filed Dec 29, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Pentwater Unconstrained Fund LLC based?
Pentwater Unconstrained Fund LLC is based in Naples, Florida and is managed by Pentwater Capital Management LP.
When did Pentwater Unconstrained Fund LLC launch?
Pentwater Unconstrained Fund LLC reports its first sale in Jul 2019.
Size compared with every hedge fund
Raised more than 79% of the 750 hedge funds based in Florida, and more than 61% of all 10,308 that report sales.