Hedge funds, month by month · November 2025
New hedge funds filed in November 2025
90 new hedge funds were filed with the SEC on Form D in November 2025, 11 of them by notable firms, reporting $3.6 billion sold so far.
90
new hedge funds on Form D
$3.6 billion
sold so far, as filed
$273 million
offered, where a target is stated
11
from notable firms
From notable firms
Among the 250 firms reporting the most hedge fund assets on Form ADV, those that filed a new fund on Form D in the past twelve months.
| Fund | Manager or general partner, as filed | Offering | Sold so far | Investors | First sale | State |
|---|---|---|---|---|---|---|
| Lone Mountain Pine, L.P. | Lone Pine Capital LLC | Indefinite | $500 million | 54 | 2025-10-01 | CT |
| Arini Diversified Alpha International Fund LP | Arini Capital Management Limited | Indefinite | $148 million | 11 | 2025-09-30 | E9 |
| Aqr Flex 1 Series LLC - Series A19 | Aqr Capital Management, LLC | Indefinite | $112 million | 1 | 2025-11-01 | CT |
| Aqr Flex 1 Series LLC - Series F15 | Aqr Capital Management, LLC | Indefinite | $100 million | 1 | 2025-11-01 | CT |
| Aqr Flex 1 Series LLC - Series A22 | Aqr Capital Management, LLC | Indefinite | $59.6 million | 1 | 2025-11-01 | CT |
| Arini Diversified Alpha US Fund LP | Arini Capital Management Limited | Indefinite | $36.3 million | 4 | 2025-10-31 | NY |
| Aqr Flex 1 Series LLC - Series B4 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 1 | 2025-11-01 | CT |
| Aqr Flex 1 Series LLC - Series B5 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 1 | 2025-11-12 | CT |
| Aqr Flex 1 Series LLC - Series F16 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 1 | 2025-11-01 | CT |
| Taula Special Opportunities Fund Ltd | Taula Capital Management (Jersey) LP | Indefinite | $500,000 | 5 | 2025-10-15 | E9 |
| Saba Capital Pine Creek Fund, LP | Saba Capital Management, L.P. | Indefinite | $0 | 0 | Not yet | NY |
The largest new funds
By the larger of the amount offered and the amount sold so far, as filed. An offering marked indefinite states no target.
| Fund | Manager or general partner, as filed | Offering | Sold so far | Investors | First sale | State |
|---|---|---|---|---|---|---|
| Lone Mountain Pine, L.P. | Lone Pine Capital LLC | Indefinite | $500 million | 54 | 2025-10-01 | CT |
| Kkr Insurance Dedicated Fund IV Series of the Sali Multi-Series Fund, L.P. | Sali Fund Partners, LLC | Indefinite | $490 million | 1 | 2025-11-21 | TX |
| Blueshift Synergy Fund, LP | Blueshift Asset Management | Indefinite | $298 million | 11 | 2018-01-08 | NJ |
| Blueshift Synergy Offshore Fund, Ltd | Blueshift Asset Management | Indefinite | $264 million | 9 | 2018-01-08 | NJ |
| Pentas Fund Ltd | Browning West LP | Indefinite | $260 million | 11 | 2025-10-20 | E9 |
| Tara Emerging Asia Liquid Fund (US), LP | System 2 Advisors, L.P. | Indefinite | $258 million | 72 | 2017-02-01 | NJ |
| Gotham Triple Exchange Fund LP | Indefinite | $163 million | 146 | 2025-09-15 | NY | |
| Arini Diversified Alpha International Fund LP | Arini Capital Management Limited | Indefinite | $148 million | 11 | 2025-09-30 | E9 |
| Cmwa Micro Cap Fund LLC | Indefinite | $147 million | 164 | 2004-09-01 | OH | |
| Ashoka Whiteoak Emerging Markets Equity Ex China Fund | Ashoka Whiteoak Capital Pte. Ltd. | Indefinite | $125 million | 1 | 2025-11-06 | L2 |
| Aqr Flex 1 Series LLC - Series A19 | Aqr Capital Management, LLC | Indefinite | $112 million | 1 | 2025-11-01 | CT |
| Aqr Flex 1 Series LLC - Series F15 | Aqr Capital Management, LLC | Indefinite | $100 million | 1 | 2025-11-01 | CT |
| Anchorage Cv-Pc, L.P. | Anchorage Cv-Pc GP, L.L.C. | Indefinite | $95.6 million | 30 | 2025-11-05 | NY |
| Aqr Flex 1 Series LLC - Series A22 | Aqr Capital Management, LLC | Indefinite | $59.6 million | 1 | 2025-11-01 | CT |
| Estee India Fund | Indefinite | $55.6 million | 80 | 2012-11-17 | O4 | |
| Alpha Low Volatility Fund, LP | Indefinite | $54.1 million | 77 | 2021-03-08 | UT | |
| Stenham Rv Solutions Fund I | Stenham Asset Management Limited | Indefinite | $53.8 million | 3 | 2025-11-03 | Y7 |
| Cc&L Q Global Equity Fund LP | Indefinite | $53.3 million | 3 | 2025-11-03 | CT | |
| Alpha Wealth Volatility Advantage Fund, LP | $50.0 million | $5.5 million | 28 | 2020-12-14 | UT | |
| Onethirty Equity Fund L/S, LP | $50.0 million | $0 | 0 | Not yet | TN | |
| Cca Opportunity Fund LP | Thornbridge Investment Management LLP | Indefinite | $40.0 million | 1 | 2025-10-01 | X0 |
| Stillcore Capital Fund II, LP | $40.0 million | $3.0 million | 4 | 2025-10-21 | CA | |
| Arini Diversified Alpha US Fund LP | Arini Capital Management Limited | Indefinite | $36.3 million | 4 | 2025-10-31 | NY |
| Tal China A Long Only Fund | Trivest Advisors | Indefinite | $35.1 million | 4 | 2024-07-01 | E9 |
| Simpli-Fi Legacy Fund, LP | $35.0 million | $0 | 0 | Not yet | TX |
Every new hedge fund filed in November 2025
All 90, with the related persons each filing names and their roles.
| Fund | Manager or general partner, as filed | Related persons, as filed | Offering | Sold so far | Filed |
|---|---|---|---|---|---|
| Lone Mountain Pine, L.P. | Lone Pine Capital LLC | Stephen Mandel, Jr. (executive officer) | Indefinite | $500 million | 2025-11-21 |
| Kkr Insurance Dedicated Fund IV Series of the Sali Multi-Series Fund, L.P. | Sali Fund Partners, LLC | Cameron Vail (executive officer); Thomas Nieman (executive officer) | Indefinite | $490 million | 2025-11-24 |
| Blueshift Synergy Fund, LP | Blueshift Asset Management | Indefinite | $298 million | 2025-11-10 | |
| Blueshift Synergy Offshore Fund, Ltd | Blueshift Asset Management | Scott Craven Jones (director); Mani Mahjouri (director); John D'agostino (director) | Indefinite | $264 million | 2025-11-10 |
| Pentas Fund Ltd | Browning West LP | Samuel Green (director); Usman Nabi (executive officer, director) | Indefinite | $260 million | 2025-11-18 |
| Tara Emerging Asia Liquid Fund (US), LP | System 2 Advisors, L.P. | Robert Jones (executive officer); Anupam Ghose (executive officer) | Indefinite | $258 million | 2025-11-20 |
| Gotham Triple Exchange Fund LP | Joel Greenblatt (promoter); Robert Goldstein (promoter); _ Gotham Triple Exchange Fund GP, LLC (promoter); _ Gotham Asset Management, LLC (promoter) | Indefinite | $163 million | 2025-11-10 | |
| Arini Diversified Alpha International Fund LP | Arini Capital Management Limited | Julian Fletcher (director); George Bashforth (director); Veronica Buffoni (director) | Indefinite | $148 million | 2025-11-14 |
| Cmwa Micro Cap Fund LLC | Neal Colby (executive officer); Cynthia Resch (executive officer); R. Mccreery (executive officer); Douglas Smorag (executive officer) | Indefinite | $147 million | 2025-11-04 | |
| Ashoka Whiteoak Emerging Markets Equity Ex China Fund | Ashoka Whiteoak Capital Pte. Ltd. | Elizabeth Beazley (director); Ben Hayward (director); Lorcan Murphy (director); Chee Kiang Tan (director) | Indefinite | $125 million | 2025-11-13 |
| Aqr Flex 1 Series LLC - Series A19 | Aqr Capital Management, LLC | Indefinite | $112 million | 2025-11-13 | |
| Aqr Flex 1 Series LLC - Series F15 | Aqr Capital Management, LLC | Indefinite | $100 million | 2025-11-13 | |
| Anchorage Cv-Pc, L.P. | Anchorage Cv-Pc GP, L.L.C. | Yale Baron (executive officer); Robert Dunleavy (executive officer); Thibault Gournay (executive officer) | Indefinite | $95.6 million | 2025-11-24 |
| Aqr Flex 1 Series LLC - Series A22 | Aqr Capital Management, LLC | Indefinite | $59.6 million | 2025-11-13 | |
| Estee India Fund | Gaurav Sahni (director); Sandeep Tyagi (promoter); Zareena Choomka (director); Michael Richter (director) | Indefinite | $55.6 million | 2025-11-17 | |
| Alpha Low Volatility Fund, LP | Aimee Spencer (executive officer); Chase Thomas (executive officer) | Indefinite | $54.1 million | 2025-11-06 | |
| Stenham Rv Solutions Fund I | Stenham Asset Management Limited | Russel Michel (director); Giulio Battaglia (director); Simon Bourge (director) | Indefinite | $53.8 million | 2025-11-24 |
| Cc&L Q Global Equity Fund LP | . Cc&L Q Global Equity Fund GP LLC (executive officer); . Connor, Clark & Lunn Investment Management Ltd. (executive officer) | Indefinite | $53.3 million | 2025-11-17 | |
| Alpha Wealth Volatility Advantage Fund, LP | Aimee Spencer (executive officer); Chase Thomas (executive officer) | $50.0 million | $5.5 million | 2025-11-06 | |
| Onethirty Equity Fund L/S, LP | Onethirty Capital LLC (executive officer); Grayson Niehaus (executive officer) | $50.0 million | $0 | 2025-11-12 | |
| Cca Opportunity Fund LP | Thornbridge Investment Management LLP | Indefinite | $40.0 million | 2025-11-10 | |
| Stillcore Capital Fund II, LP | Daniel Quatrella (executive officer); Robert Greer (executive officer); Jason Calacanis (executive officer); Mark Jeffrey (executive officer) | $40.0 million | $3.0 million | 2025-11-13 | |
| Arini Diversified Alpha US Fund LP | Arini Capital Management Limited | Steven Rosenthal (executive officer); Gavin Yates (executive officer); Eliza Holladay (executive officer) | Indefinite | $36.3 million | 2025-11-14 |
| Tal China A Long Only Fund | Trivest Advisors | Lynden John (director); Lan Xue (director); Lillian Pang (director) | Indefinite | $35.1 million | 2025-11-05 |
| Simpli-Fi Legacy Fund, LP | Colby Ivey (executive officer); Hunter Lott (executive officer) | $35.0 million | $0 | 2025-11-05 | |
| Aravalli Abf II LP | Aravalli Capital Management LP | Lee Sterling (executive officer); Rahul Sabarwal (executive officer) | $32.0 million | $32.0 million | 2025-11-12 |
| Gip Special Opportunities Fund Series LP - Gip Special Opportunities Series 4 | General Industrial Partners LLP | Kristina Caruana (director); Cyrus De Weck (director) | Indefinite | $27.3 million | 2025-11-26 |
| Aqr Flex 1 Series LLC - Series B4 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 2025-11-13 | |
| Aqr Flex 1 Series LLC - Series B5 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 2025-11-21 | |
| Aqr Flex 1 Series LLC - Series F16 | Aqr Capital Management, LLC | Indefinite | $25.0 million | 2025-11-13 | |
| Q One Inc. | Patrick Patterson (executive officer, director) | $25.0 million | $1.1 million | 2025-11-03 | |
| Distressed Credit Opportunities (Offshore) Fund II, L.P. | 50 South Capital Advisors, LLC | Tristan Thomas (executive officer); Robert Morgan (executive officer) | Indefinite | $20.0 million | 2025-11-04 |
| Fulcrum Horizon Fund LP | Fulcrum Asset Management LLP | Richard Goddard (director); Joe Davidson (director); Michelle Wilson-Clarke (director) | Indefinite | $20.0 million | 2025-11-10 |
| Oca Php Segregated Portfolio | Offit Capital | Vincent Rella (executive officer); Ned Offit (executive officer) | Indefinite | $18.3 million | 2025-11-24 |
| Barton Avenue US Equities Fund LP | Barton Capital Partners, Inc. | Oscar Eskin (executive officer); Ishai Strauss (executive officer); Joshua Dimarsky (executive officer) | Indefinite | $15.0 million | 2025-11-05 |
| Copernicus Hedge Fund LP | Philip Mckinley (executive officer) | $15.0 million | $0 | 2025-11-12 | |
| Nidhiskh Investments LP | Vishal Patel (executive officer) | $14.9 million | $0 | 2025-11-12 | |
| Fujur Capital LP | Juan Cajigas (executive officer) | Indefinite | $12.1 million | 2025-11-04 | |
| Marietta Defi Fund LP | Kendall Crist (executive officer); Ranjeet Paul (executive officer) | $10.0 million | $0 | 2025-11-06 | |
| Distressed Credit Opportunities Fund II, L.P. | 50 South Capital Advisors, LLC | Tristan Thomas (executive officer); Robert Morgan (executive officer) | Indefinite | $6.0 million | 2025-11-04 |
| Adapt Fund, LP | Ryan Moffett (executive officer, director, promoter); Wayne Klump (executive officer, director, promoter) | Indefinite | $4.5 million | 2025-11-06 | |
| First Princeton Partners II LP | William Miller (executive officer); James Bickley (executive officer) | Indefinite | $4.3 million | 2025-11-17 | |
| Windward SPV I LLC | Windward Management LP | Indefinite | $3.8 million | 2025-11-18 | |
| Challenger Trade Finance Segregated Portfolio of the South Africa Alpha Spc | South Africa Alpha Capital Management Ltd. | Stuart Lacey (director); Mark Fagan (director); Jonathan Hertz (director) | Indefinite | $3.3 million | 2025-11-07 |
| Jla Scholarship Fund, LLC | Daniel Ades (director) | Indefinite | $3.0 million | 2025-11-13 | |
| Tara India Systematic Alpha US LP | System 2 Advisors, L.P. | Robert Jones (director); Anupam Ghose (director) | Indefinite | $2.6 million | 2025-11-18 |
| Tara India Systematic Alpha Mu Feeder (Incorporated Vcc Sub-Fund) | System 2 Advisors, L.P. | Terrence Martell (director); Anupam Ghose (director); Sahadev Shivarthy (director); Dhiraj Ramaglum (director) | Indefinite | $2.5 million | 2025-11-18 |
| Eam Litigation Finance Fund I International LP | Eastern Asset Management LLC | Andrew Clark (executive officer); Michael Lungariello (executive officer) | Indefinite | $2.4 million | 2025-11-21 |
| Steyn Capital Frontier Fund | Jamie Kent (director) | Indefinite | $2.0 million | 2025-11-26 | |
| Gcm Global Fixed Income Alpha US Feeder Fund | Gembridge Capital Management Pte. Ltd. | Beng Wee How (director, promoter); Winnie Hon (director); Alan Kelly (director); Johnson Cheung (executive officer) | Indefinite | $1.5 million | 2025-11-05 |
| Synanthem Capital LP | Seth Turner (executive officer, promoter); Manuel Crespo (executive officer, promoter) | Indefinite | $1.2 million | 2025-11-06 | |
| Alphahill Capital China Focus Feeder Fund I | Alphahill Capital Limited | Martin O'regan (director); Siliang Jiang (director); Julian Fletcher (director) | Indefinite | $1.0 million | 2025-11-04 |
| Fourder Snap Fund LLC | Efraim Domb (executive officer) | $1.0 million | $50,000 | 2025-11-04 | |
| Medit Capital Offshore Fund Ltd | Medit Capital Partners | Alex Hoffer (director); Phillip Austern (director) | Indefinite | $870,417 | 2025-11-04 |
| 5up3down Fund LP | Darren Frye (executive officer); Rebecca Frye (executive officer); Jordan Wolf (executive officer) | Indefinite | $600,000 | 2025-11-12 | |
| 5up3down Fund LP | Darren Frye (executive officer); Rebecca Frye (executive officer); Jordan Wolf (executive officer) | Indefinite | $600,000 | 2025-11-10 | |
| Taula Special Opportunities Fund Ltd | Taula Capital Management (Jersey) LP | Dawn Howe (director); Russell Burt (director) | Indefinite | $500,000 | 2025-11-14 |
| Hypersignal Alpha LP | . Systematic Portfolios Capital Partners GP I LLC (executive officer); . Systematic Portfolios LLC (executive officer); Anusar Farooqui (director) | Indefinite | $130,000 | 2025-11-21 | |
| Barton Avenue US Equities Offshore Fund, Ltd. | Barton Capital Group Inc. | Joshua Dimarsky (director); Jonathan Bain (director); Khalid Iton (director) | Indefinite | $0 | 2025-11-05 |
| Bitcoin Denominator Group, LP | Jeffrey Tiefenthaler (director) | Indefinite | $0 | 2025-11-12 | |
| Black Lotus Quantum Ventures I, LP | Black Lotus Partners, LLC | Thomas Bispham, Jr. (executive officer) | Indefinite | $0 | 2025-11-18 |
| Black Lotus Quantum Ventures, LP | Black Lotus Partners, LLC | Thomas Bispham, Jr. (executive officer) | Indefinite | $0 | 2025-11-18 |
| Broodx Fund, LP | Broodx GP, LLC | Andrew Baine (executive officer) | Indefinite | $0 | 2025-11-24 |
| Buch Capital Fund, LP | Buch Capital Management, LLC | Nandakishore Akula (executive officer) | Indefinite | $0 | 2025-11-04 |
| Caspian Scf Tpsf, LP | Caspian Capital, LP | Adam Cohen (director); David Corleto (director) | Indefinite | $0 | 2025-11-24 |
| Dkms Kairos Fund LP | Daniel Wade (executive officer) | Indefinite | $0 | 2025-11-24 | |
| Domus Es, LLC | John Addis (executive officer, promoter) | Indefinite | $0 | 2025-11-10 | |
| Embergrow LP | Embergrow GP LLC | Paul Kim (executive officer) | Indefinite | $0 | 2025-11-14 |
| Exponent Fund LP | Coleman River Capital LLC | Jack Hightower (executive officer, promoter); James Browne (promoter) | Indefinite | $0 | 2025-11-10 |
| Fairmount Healthcare Co-Invest V L.P. | Fairmount Funds Management LLC | Tomas Kiselak (executive officer, promoter); Peter Harwin (executive officer, promoter) | Indefinite | $0 | 2025-11-05 |
| Fulcrum Funds II Spc - Fulcrum Commodities Fund Sp | Fulcrum Asset Management LLP | Richard Goddard (director); Michelle Wilson-Clarke (director); Joe Davidson (director) | Indefinite | $0 | 2025-11-10 |
| Fulcrum Funds II Spc - Fulcrum Horizon Fund Sp | Fulcrum Asset Management LLP | Michelle Wilson-Clarke (director); Richard Goddard (director); Joe Davidson (director) | Indefinite | $0 | 2025-11-10 |
| Genalyte C4 Series of Provenio Capital Management Master LLC | Gregory Poapst (executive officer) | Indefinite | $0 | 2025-11-04 | |
| Mbh Fund II LP | Mbh Capital Group, LLC | Mark Anderson (executive officer) | Indefinite | $0 | 2025-11-21 |
| Nhggp Opportunities Fund, L.P. | Brian Doyle (executive officer); Shintaro Kobayashi (executive officer); (None) Nhggp Management LLC (executive officer) | Indefinite | $0 | 2025-11-06 | |
| Occidental Rock Fund Vcc - Occidental Rock Global Balance Fund | Teo Howe (director); Liu Haiyue (director) | Indefinite | $0 | 2025-11-04 | |
| Occidental Rock Fund Vcc - Occidental Rock Global Growth Fund | Teo Howe (director); Liu Haiyue (director) | Indefinite | $0 | 2025-11-04 | |
| Occidental Rock Fund Vcc - Occidental Rock Global Pe Fund | Teo Howe (director); Liu Haiyue (director) | Indefinite | $0 | 2025-11-04 | |
| Palmer Square Structured Credit Opportunities Offshore Fund, Ltd. | Palmer Square Capital Management LLC | Indefinite | $0 | 2025-11-04 | |
| Palmer Square Structured Credit Opportunities U.s. Fund LLC | Palmer Square Capital Management LLC | Jeffrey Fox (executive officer) | Indefinite | $0 | 2025-11-04 |
| Phase3 Systematic Opportunity Fund LLC | Phase 3 Capital Management LLC | Karim Alwan (executive officer); White Eric (executive officer); Shane Hoover (executive officer); Ethan Youderian (executive officer) | Indefinite | $0 | 2025-11-21 |
| Quantum Fund S LP | Quantum Arc Investments LLC | Dwip Mahajan (executive officer); David Zhu (executive officer) | Indefinite | $0 | 2025-11-21 |
| Saba Capital Pine Creek Fund, LP | Saba Capital Management, L.P. | Boaz Weinstein (executive officer) | Indefinite | $0 | 2025-11-06 |
| Second Renaissance Fund LP | Second Renaissance Fund (GP) LLC | Marco Wutzer (executive officer); Arthur Yakubovsky (executive officer) | Indefinite | $0 | 2025-11-10 |
| Second Renaissance Fund Ltd | Second Renaissance Management LLC | Arthur Yakubovsky (director); Marco Wutzer (director) | Indefinite | $0 | 2025-11-10 |
| Svs Eth Fund, LP | Svs Partners GP LLC | Nicholas Steinhilber (executive officer) | Indefinite | $0 | 2025-11-13 |
| Victory Digital Income Fund Ltd | Vdif Ltd | Reuben Sushman (executive officer) | Indefinite | $0 | 2025-11-06 |
| Wanics Capital Fund I, LP | Tianran Li (executive officer) | Indefinite | $0 | 2025-11-05 | |
| Wealthshield Absolute Return Fund LLC | Infinity Capital Advisors, LLC | Jeff Vale (executive officer, promoter) | Indefinite | $0 | 2025-11-03 |
| Wolske Wealth Cayman Fund | Janek Wolske (executive officer, director) | Indefinite | $0 | 2025-11-20 |
What Form D can and cannot say
- A Form D is a notice that a private offering has started, filed within 15 days of its first sale. It names the fund and the people and entities behind it, not the investors and not the companies a fund goes on to back.
- Amounts are as filed: the amount offered (or indefinite) and the amount sold by the filing date. A later amendment, not counted here, may report more.
- Each fund here is a new Form D, not an amendment, filed in the month. A fund is tied to a manager when its filing names that manager's own legal name, or, for the largest managers, when the fund's or its general partner's name begins with the manager's distinctive name.
Sources: SEC EDGAR, Form D filings. Figures are as filed; none is estimated. Not investment advice.