GEM Realty Securities Flagship, L.P. is a hedge fund based in Chicago, Illinois. According to its most recent Form D, filed Feb 27, 2026, the fund has sold $761,121,736 of interests to 254 investors since its first sale in Apr 1998. The filing does not set a minimum investment. 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 GRS Advisors, LLC; Barry Malkin; Gem Mm, 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
- $761,121,736Cumulative sales reported on Form D
- Investors
- 254
- First sale
- Apr 1, 1998
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- GRS Advisors, LLC; Barry Malkin; Gem Mm, LLC
- Latest Form D
- Feb 27, 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 93% of the 321 hedge funds based in Illinois, and more than 87% of all 10,157 that report sales.