Liquidation: Endowment PMF Master Fund, L.P.

Form Type: N-CSR

Filing Date: 2025-06-09

Corporate Action: Liquidation

Type: New

Accession Number: 000121390025052489

Filing Summary: The document reports on the final quarterly status of The Endowment PMF Master Fund, L.P. as of March 31, 2025, marking the fund's liquidation after being established in 2014 with a 10-year passive liquidation period. The fund completed its liquidation process on April 15, 2025, distributing all remaining assets to investors, resulting in zero balances in capital accounts. Throughout the liquidation, the Adviser and Liquidation Administration Agent were responsible for achieving optimal returns and effectively distributed approximately 110% of original paid-in capital during the fund's life with over $400 million in distributions in the last four years alone. Notably, the secondary market operated at a significant discount, but the fund managed to achieve slightly better than 61% of NAV at the start of the liquidation process. Alerts were issued to investors regarding the progression of liquidation, which included a planned timeline for the distribution of K-1 forms and the process for any remaining administrative matters following the fund's closure.

Form Type: N-8F

Filing Date: 2025-04-16

Corporate Action: Liquidation

Type: New

Accession Number: 000089843225000278

Filing Summary: The Endowment PMF Master Fund, L.P. submitted an initial Form N-8F for deregistration due to liquidation, which was necessitated by the ten-year anniversary as outlined in the limited partnership agreement. The final distribution of assets to shareholders was said to have occurred on April 15, 2025, following a distribution effective date of March 31, 2025. All assets have been distributed pro rata based on share ownership. The fund has retained cash reserves for expected costs associated with winding up its affairs, which amounts to $864,088. The filing also details liabilities equal to this cash reserve due to related expenses for the liquidation process, totaling approximately $1,256,515. The investors bore these expenses, and there is no ongoing business or litigation involving the fund. Furthermore, the necessary approvals from a board of directors or shareholders for the liquidation process were not required, as stated in the filings.