DEF Associates Ltd. is a hedge fund based in Road Town, Tortola, Virgin Islands, British. According to its most recent Form D, filed Aug 13, 2026, the fund has sold $213,051,215 of interests to 39 investors since its first sale in Jan 1985. The minimum investment it accepts from an outside investor is $100,000. 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 Arnhold LLC; Nicolas Lowell; Steven Schaefer.
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
- $213,051,215Cumulative sales reported on Form D
- Investors
- 39
- First sale
- Jan 1, 1985
- Minimum investment
- $100,000
- 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
- Arnhold LLC; Nicolas Lowell; Steven Schaefer
- Latest Form D
- Aug 13, 2026
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 67% of the 67 hedge funds based in Virgin Islands, British, and more than 70% of all 10,157 that report sales.