Every red-flag and yellow-flag finding from the trailing 365 days across every monitored fund, watchlist and universe, red flags first, then by recency. Showing 20 of 220 — Yellow flag · Private Equity.
Proposal 1 put to shareholder vote: Approval Of A New Advisory Agreement. (2026-07-20)
The contract between the fund and its manager changed. Advisory agreements set the economics and the duty of care shareholders actually get; even technical amendments deserve a read for fee or termination-provision drift.
Source: https://www.sec.gov/Archives/edgar/data/1810256/000121390026079496/ea0298419-01_def14a.htm | DEF 14A Proposal 1
Proposal 2 put to shareholder vote: Approval Of A New Sub-Advisory Agreement. (2026-07-20)
The firm doing the actual investing changed. A subadviser swap can shift strategy, process, and track record even when the headline manager stays the same.
Source: https://www.sec.gov/Archives/edgar/data/1810256/000121390026079496/ea0298419-01_def14a.htm | DEF 14A Proposal 2
On July 2, 2026, the Company entered into the Seventh Amended and Restated Limited Liability Company Agreement (the “Seventh A&R LLCA”), which amended and restated the Company’s... (2026-07-02)
Governance documents changed. Usually technical; occasionally it moves a shareholder protection, so the specific provision is worth a read.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 5.03
In connection with the foregoing, on July 2, 2026, the Company entered into a Second Amended and Restated Management Agreement (the “Second A&R Management Agreement”) with KKR DAV... (2026-07-02)
The contract between the fund and its manager changed. Advisory agreements set the economics and the duty of care shareholders actually get; even technical amendments deserve a read for fee or termination-provision drift.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 1.01
On July 2, 2026, the Board of Directors of the Company adopted a revised share repurchase plan (the “Share Repurchase Plan”) to, among other things, incorporate the Class I Series... (2026-07-02)
The rules governing how investors exit changed. For a semi-liquid fund the repurchase program IS the liquidity; any change to caps, frequency, or pricing deserves a direct read.
Source: https://www.sec.gov/Archives/edgar/data/1957845/000195784526000060/kkr-20260702.htm | Item 8.01
Net outflow of 5.6% of NAV in the period ended 2026-03-31.
Net outflows in a single period reached the scale of a typical quarterly repurchase cap. Demand for the exit is at or beyond what the fund's liquidity program is designed to handle.
Source: derived: net_flows / total_net_assets (parent equity) (nearest prior instant value) * 100
NAV per share fell 3.9% from $2.31 to $2.22 (2026-03-31).
Private-market NAVs move slowly by construction, so a 2%+ single-month markdown is a genuine valuation event, not noise.
Source: https://www.sec.gov/Archives/edgar/data/1447247/000139834426010605/fp0098460-3_ncsr.htm | per-class statement blocks (V5 family, non-FS filer agent), Class I
NAV per share fell 4.4% from $16.94 to $16.19 (2026-03-31).
Private-market NAVs move slowly by construction, so a 2%+ single-month markdown is a genuine valuation event, not noise.
Source: https://www.sec.gov/Archives/edgar/data/1616203/000139834426010628/fp0098286-1_ncsr.htm | per-class NAV list (V5-LIST)
NAV per share ($2.22) is -0.3% below its trailing four-observation average ($2.21) as of 2026-03-31.
NAV has been running at least 2% below its own recent trailing average. Unlike a single sharp markdown, a sustained slide means the pressure on valuations is persistent rather than a one-period event.
Source: https://www.sec.gov/Archives/edgar/data/1447247/000139834426010605/fp0098460-3_ncsr.htm | per-class statement blocks (V5 family, non-FS filer agent), Class I
Castlelake Consumer Receivables Opportunity III, L.P. (2026-03-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2026-03-31:mark:castlelake consumer receivables opportunity iii, l.p.
EQT VIII Co-Investment (D) SCSp marked down -100% (2025-12-31 $187,593,706 -> 2026-03-31 $1) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2026-03-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2026-03-31:mark:eqt viii co-investment (d) scsp
FSN Capital Unique Co-Investment L.P. (2026-03-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2026-03-31:mark:fsn capital unique co-investment l.p.
The Veritas Capital Vlll, L.P. (2026-03-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2026-03-31:mark:the veritas capital vlll, l.p. /
Pharmathen Topco Sarl marked down -60% (2025-09-30 $154,721,115 -> 2025-12-31 $62,518,847) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-12-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-12-31:mark:pharmathen topco sarl
Chance Co-Investment, L.P marked down -100% (2025-09-30 $13,408,252 -> 2025-12-31 $0) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-12-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-12-31:mark:chance co-investment, l.p
SHOREVIEW CAPITAL PARTNERS III / marked down -41% (2025-09-30 $13,829,268 -> 2025-12-31 $8,153,007) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-12-31)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-12-31:mark:shoreview capital partners iii /
NAV per share ($2.31) is 38.4% below its trailing four-observation average ($3.75) as of 2025-09-30.
NAV has been running at least 2% below its own recent trailing average. Unlike a single sharp markdown, a sustained slide means the pressure on valuations is persistent rather than a one-period event.
Source: https://www.sec.gov/Archives/edgar/data/1447247/000139834425022223/fp0096342-3_ncsrs.htm | per-class statement blocks (V5 family, non-FS filer agent), Class I
Trive Capital Fund III LP marked down -81% (2025-06-30 $21,752,108 -> 2025-09-30 $4,171,009) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-09-30)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-09-30:mark:trive capital fund iii lp
The Resolute Fund IV, LP marked down -36% (2025-06-30 $56,967,102 -> 2025-09-30 $36,474,613) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-09-30)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-09-30:mark:the resolute fund iv, lp
FB HA HOLDINGS LP PROJECT BRE PARTNERS / marked down -50% (2025-06-30 $9,030,803 -> 2025-09-30 $4,540,120) with par balance unchanged (+-2%) -- a valuation mark, not a trade. (2025-09-30)
A portfolio position was written down materially. Marks are management's own estimate of impairment, so a large markdown is a loss being recognized -- the fund-level NAV effect depends on the position's size.
Source: nport-diff:2025-09-30:mark:fb ha holdings lp project bre partners /