EFTA Document EFTA01392259

GLDUS128 Patrick Gerschel iCapital Advisors, LLC Form ADV Part 2A make investments directly in certain equity securities recommended by a sub-adviser (a "Sub- Adviser") selected by iCapital in accordance with each such Fund's respective investment objective and any investment guidelines, as set forth in that Fund's PPM. These Funds permit investors to access leading private equity and hedge funds at investment minimums which may be as low as $100,000. as set forth in the applicable PPM. E