Accredited Investors

Accredited Investors & Qualified Clients Only

To review our partnership letters available exclusively to Accredited Investors & Qualified Clients, please fill out the form below.

    The subscriber/reader qualifies as an accredited investor if they meet at least one of the criteria below:

    Individual Investors

    • 1. Any natural person whose individual net worth, or joint net worth with that person’s
      spouse, at the time of such investor’s purchase, exceeds $1,000,000 (excluding the
      value of your primary residence);

    • 2. Any natural person who had an individual income in excess of $200,000 in each of
      the two most recent years or joint income with that person’s spouse in excess of
      $300,000 in each of those years and has a reasonable expectation of reaching the same
      income level in the current year;

    • 3. Any IRA or a grantor trust and the owner of the IRA or the grantor of the grantor
      trust is a natural person that meets the requirements of criteria (1) and/or (2)
      described above;

    • 4. Any natural person who currently holds in good standing one or more professional
      certifications, designations or credentials, including the Series 7, Series 65, and Series
      82 exams, currently recognized by the Securities and Exchange Commission (the
      “SEC”) as satisfying the criteria set forth in Rule 501(a) of Regulation D under the
      Securities Act of 1933, as amended;

    • 5. Any natural person who is a “knowledgeable employee” (as defined in Rule 3(c)-5
      of the Investment Company Act of 1940, as amended (the “Investment Company
      Act”)) of the Partnership;

    • 6. Any natural person who is a “family client” (as defined in Rule 202(a)(11)(G)-1
      under the Investment Advisers Act of 1940, as amended (the “Advisers Act”)) of a
      “family office” (as defined in Rule 202(a)(11)(G)-1 under the Advisers Act) (i) with
      more than $5,000,000 in assets under management, (ii) that was not formed for the
      specific purpose of investing in the Partnership, and (iii) whose prospective
      investment in the Partnership is directed by a person who has such knowledge and
      experience in financial and business matters that such family office is capable of
      evaluating the merits and risks of the perspective investment in the Partnership;

    Trusts, Partnerships, Corporations, LLCs, and Other Entities:

    • 7. Any organization described in Section 501(c)(3) of the Internal Revenue Code of
      1986, as amended (the “Code”), corporation, Massachusetts or similar business trust,
      or partnership, not formed for the specific purpose of acquiring the securities offered,
      with total assets in excess of $5,000,000;

    • 8. Any personal (non-business) trust, other than an employee benefit trust, with total
      assets in excess of $5,000,000, not formed for the specific purpose of acquiring the
      securities offered, whose purchase is directed by a sophisticated person as described
      in Rule 506(b)(2)(ii) under the Securities Act;

    • 9. Any entity which owns “investments” totaling more than $5,000,000 and which was
      not formed for the specific purpose of investing in the Partnership;

    • 10. A private business development company as defined in Section 202(a)(22) of the
      Investment Advisers Act of 1940, as amended;

    Financial Institutions:

    • 11. Any financial institution that is licensed, or subject to supervision, by federal or state
      examining authorities such as a “bank,” “savings and loan association,” “insurance
      company,” or “small business investment company” (as such terms are used and
      defined in 17 CFR §230.501(a)) or is an account for which a bank or savings and loan
      association is subscribing in a fiduciary capacity;

    • 12. The Subscriber is registered with the SEC as a broker or dealer or an investment
      company; or has elected to be treated or qualifies as a “business development
      company” (within the meaning of Section 2(a)(48) of the Investment Company Act,
      or Section 202(a)(22) of the Advisers Act);

    • 13. The Subscriber is an investment adviser registered with the SEC pursuant to Section
      203 of the Advisers Act or registered pursuant to the laws of any state, or the
      Subscriber is an investment adviser relying on the exemption from registering with
      the SEC under Section 203(l) or Section 203(m) of the Advisers Act;

    • 14. The Subscriber is a Rural Business Investment Company (as defined in Section384A
      of the Consolidated Farm and Rural Development Act of 1972, as amended);

    • 15. The Subscriber is a “family office” (as defined in Rule 202(a)(11)(G)-1 under the
      Advisers Act) (i) with more than $5,000,000 in assets under management, (ii) that
      was not formed for the specific purpose of investing in the Partnership, and (iii)whose
      prospective investment in the Partnership is directed by a person who has such
      knowledge and experience in financial and business matters that such family office
      is capable of evaluating the merits and risks of the perspective investment in the
      Partnership, or the Subscriber is an entity that is a “family client” (as defined in Rule
      202(a)(11)(G)-1 under the Advisers Act) of a family office meeting the foregoing
      criteria;

    Benefit Plans:

    • 16. Any plan established and maintained by a state, its political subdivisions, or any
      agency or instrumentality of a state or its political subdivisions, for the benefit of its
      employees, if such plan has total assets in excess of $5,000,000; or any employee
      benefit plan within the meaning of ERISA, if the investment decision is made by a
      plan fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings
      and loan association, insurance company, or registered investment adviser, or if the
      employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed
      plan, with investment decisions made solely by natural persons that would themselves
      qualify as eligible investors. Subject to the sole discretion of the General Partner, no
      eligible investor falling within the foregoing categories will be admitted to the
      Partnership unless, if the investor is subject to ERISA, such investment, taken
      together with those of all other Beneficial Owners subject to ERISA, does not amount
      to 25% or more of all Interests;

    Other:

    • 17. Any entity in which all of the equity owners are accredited investors (or, in the case
      of a trust, all the income beneficiaries are accredited investors).