AIR U.S. Life Fund II LP is a hedge fund based in Chicago, Illinois. According to its most recent Form D, filed Jul 22, 2025, the fund has sold $39,422,734 of interests to 92 investors since its first sale in Aug 2020. The minimum investment it accepts from an outside investor is $250,000. 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. Related persons named in the filing include Stephen Luongo; Richard Beleutz; AIR Life Fund Management, LLC.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to HedgeMountain directly.
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- Total raised
- $39,422,734Cumulative sales reported on Form D
- Investors
- 92
- First sale
- Aug 1, 2020
- Minimum investment
- $250,000
- 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
- Stephen Luongo; Richard Beleutz; AIR Life Fund Management, LLC
- Latest Form D
- Jul 22, 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 HedgeMountain 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
Size compared with every hedge fund
Raised more than 53% of the 321 hedge funds based in Illinois, and more than 41% of all 10,157 that report sales.