HedgeMountain

Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC

Grand Cayman, Cayman Islands · CIK 1685475
Offshore

Challenger Trade Finance Segregated Portfolio of the South Africa Alpha SPC is a hedge fund based in Grand Cayman, Cayman Islands. According to its most recent Form D, filed Nov 7, 2025, the fund has sold $3,250,000 of interests to 2 investors since its first sale in Apr 2016. The minimum investment it accepts from an outside investor is $100,000. 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 Stuart Lacey; South Africa Alpha Capital Management Ltd; Mark Fagan.

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
$3,250,000Cumulative sales reported on Form D
Investors
2
First sale
Apr 1, 2016
Minimum investment
$100,000
Who can invest
Qualified purchasersSection 3(c)(7): generally $5M+ in investments
Offering exemption
Rule 506(b)No general advertising
Key people and entities
Stuart Lacey; South Africa Alpha Capital Management Ltd; Mark Fagan
Latest Form D
Nov 7, 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 16% of the 2,343 hedge funds based in Cayman Islands, and more than 11% of all 10,157 that report sales.

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