Tender Offer - Alternative Investment Partners Absolute Return Fund STS
Form Type: SC TO-I
Filing Date: 2025-05-28
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525129057
Filing Summary: Alternative Investment Partners Absolute Return Fund STS, a closed-end, non-diversified management investment company, announces a tender offer to purchase shares of beneficial interest from shareholders. The offer was first published on May 28, 2025, with a total transaction valuation of $43,847,142. The purchase will be made at net asset value per share based on a valuation date of September 30, 2025, and the acceptance of shares is anticipated to occur on July 25, 2025. Shareholders have the right to withdraw their tenders until the Initial Expiration Date of July 7, 2025. The Fund’s offer coincides with offers from corresponding offshore funds. Each shareholder who tenders shares will receive a non-interest bearing promissory note for the value of their shares, with at least 90% of the net asset value to be paid within 30 days after the Valuation Date. The note will also entitle shareholders to a contingent payment after the Fund's annual audit if the calculated value exceeds the initial payment. The Fund reserves the right to extend, amend, or cancel the offer as needed, and all shares accepted will reduce the proportionate interest of remaining shareholders in the Fund.
Additional details:
Amount Of Filing Fee: N/A
Transaction Valuation: $43,847,142
Commencement Date: 2025-05-28
Initial Notice Date: 2025-06-27
Initial Expiration Date: 2025-07-07
Acceptance Date: 2025-07-25
Valuation Date: 2025-09-30
Fiscal Year End Date: 2025-12-31
Form Type: SC TO-I/A
Filing Date: 2025-05-28
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525129035
Filing Summary: This document is a final amendment to the Issuer Tender Offer Statement on Schedule TO filed with the SEC on November 26, 2024, by Alternative Investment Partners Absolute Return Fund STS. It relates to an offer to purchase shares of beneficial interest from shareholders at their net asset value. The fund invests most of its assets in AIP Absolute Return Fund LDC, which in turn invests primarily in the Master Fund. The Master Fund had a corresponding offer to purchase up to 15% of its net assets at the same time. The tender offer required shareholders to submit their tenders by December 26, 2024, and allowed withdrawals until January 6, 2025. Shareholders tendered $4,609,102 in total before the notice date, which was accepted according to the offer terms. The net asset value of shares was calculated as of March 31, 2025. Payments were made to tendering shareholders in the form of promissory notes on January 27, 2025, with subsequent payments totaling $4,542,920 being made by April 25, 2025, representing over 90% of the net asset value of the tendered shares. Moreover, there will be a contingent post-audit payment based on potential adjustments resulting from the annual audit of the fund's financial statements.
Additional details:
Transaction Valuation: 42536170
Amount Previously Paid: None
Filing Party: Alternative Investment Partners Absolute Return Fund STS
Date Filed: 2024-11-26
Payment Date: 2025-04-25
Initial Payment Amount: 4542920
Valuation Date: 2025-03-31
Form Type: SC TO-I
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525034638
Filing Summary: On February 25, 2025, Alternative Investment Partners Absolute Return Fund STS initiated a tender offer for its shares, offering to purchase them from shareholders at their net asset value (NAV) determined as of a specified valuation date. The total transaction valuation is approximately $42.5 million. The offer is concurrent with similar tenders from the Offshore Fund and the Master Fund, with the Master Fund allowing up to 15% of its net assets for purchase. Shareholders can submit their tender requests up to the initial notice date of March 27, 2025, and withdraw their requests until the initial expiration date on April 7, 2025. Payments for accepted shares will be made in the form of a non-interest bearing promissory note, with an initial payment of at least 90% of the NAV and potential adjustments based on a subsequent audit. The document outlines various deadlines and conditions related to the tender offer, including the rights of shareholders to withdraw their tenders and the Fund's rights to extend or amend the offer.
Additional details:
Transaction Valuation: $42,488,579
Filing Fee: None
Initial Notice Date: 2025-03-27
Initial Expiration Date: 2025-04-07
Acceptance Date: 2025-04-23
Valuation Date: 2025-06-30
Fiscal Year End Date: 2025-12-31
Form Type: SC TO-I/A
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525034620
Filing Summary: This document is an amendment to the Issuer Tender Offer Statement on Schedule TO, filed by Alternative Investment Partners Absolute Return Fund STS, regarding an offer to purchase shares of beneficial interest from its shareholders at their net asset value. The fund had previously announced an offer to repurchase shares in the amount of up to 15% of the net assets of the Master Fund. Shareholders were required to submit their tenders by a specified date and could withdraw their tenders until the expiration date. The document outlines that valid tenders totaling $2,298,193 were accepted for repurchase, and the net asset value calculations for the shares tendered were as of December 31, 2024. Payments were made via promissory notes on October 24, 2024, with an initial disbursement of $2,272,253 made by January 31, 2025. Shareholders are also entitled to a contingent post-audit payment based on the adjusted net asset value of their tendered shares after the annual audit.
Additional details:
Amount Of Filing Fee: $44,407,007
Issuer Name: Alternative Investment Partners Absolute Return Fund STS
Notice Date: 2024-09-27
Expiration Date: 2024-10-07
Total Tendered Value: $2,298,193
Net Asset Value Tendered Date: 2024-12-31
Promissory Note Payment Date: 2024-10-24
Total Initial Payment: $2,272,253
Post Audit Payment Information: Contingent on the annual audit adjustments.
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