Dark PoolEvent Monday, November 28, 2016Analyzed

CMAP ISAM Fund Ltd

Neutral

Summary

CMAP ISAM Fund Ltd, a Cayman Islands exempted company, filed a Form D/A amendment on or around 2026-06-02 for a pooled investment fund offering under Regulation D. The offering amount is undisclosed, and the first sale occurred on 2016-11-28, indicating this is an ongoing or updated filing for an existing fund. Related persons include Wilshire Advisors LLC (promoter/manager), International Standard Asset Management (executive officer/trading advisor), ISAM (Europe) LLP, ISAM (USA) LLC, Steven Geovanis, and Kunjal Shah. The filing does not specify the number of investors or minimum investment, but the fund is structured as a pooled investment fund, likely relying on Section 3(c)(7) or 3(c)(1) exclusions under the Investment Company Act.

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Full Analysis

Executive Summary

CMAP ISAM Fund Ltd, a Cayman Islands exempted company, filed a Form D/A amendment on or around 2026-06-02 for a pooled investment fund offering under Regulation D. The offering amount is undisclosed, and the first sale occurred on 2016-11-28, indicating this is an ongoing or updated filing for an existing fund. Related persons include Wilshire Advisors LLC (promoter/manager), International Standard Asset Management (executive officer/trading advisor), ISAM (Europe) LLP, ISAM (USA) LLC, Steven Geovanis, and Kunjal Shah. The filing does not specify the number of investors or minimum investment, but the fund is structured as a pooled investment fund, likely relying on Section 3(c)(7) or 3(c)(1) exclusions under the Investment Company Act.

Investor Edge

Watch for any future amendments that disclose the total offering amount or investor count, which would signal whether the fund is expanding or contracting. The involvement of Wilshire Advisors LLC, a major institutional consultant, may indicate the fund is targeting pension or endowment capital.

Sector capital positioning

This filing represents a mature pooled investment fund (first sale nearly 10 years ago) continuing to operate under Reg D, suggesting stable but not rapidly growing capital flows in the alternative asset management sector. The involvement of multiple advisory entities (Wilshire, ISAM) indicates a multi-manager or fund-of-funds structure, which is common in institutional-grade hedge fund platforms.

Convergence Signals

No direct convergence signals are evident from the filing. The fund's long operational history and amendment filing suggest routine regulatory compliance rather than a new strategic pivot. No recent patent filings, government contracts, or legislative changes are directly correlated.

Key Takeaways

  • CMAP ISAM Fund Ltd filed a D/A amendment, indicating a change in terms or ongoing offering for an existing pooled investment fund.
  • The offering amount is undisclosed, and first sale occurred in 2016, suggesting a mature fund with no new capital raise disclosed.
  • Key related persons include Wilshire Advisors LLC and International Standard Asset Management, pointing to institutional-grade management.

Risk Indicators & Flags

The filing is an amendment (D/A) without disclosed changes, which could indicate restated terms or corrections. The offering amount is undisclosed, limiting transparency. The fund is domiciled in the Cayman Islands, which may carry jurisdictional risk for U.S. investors. No information on non-accredited investors or minimum investment is provided.

Verification & References

All facts are derived from the SEC Form D filing (Accession Number 000169188626000001) and the raw XML excerpt. The CIK 0001691886, entity name, address, related persons, and first sale date are verifiable via SEC EDGAR. The offering amount is explicitly undisclosed in the filing.

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