Tender Offer - Alternative Investment Partners Absolute Return Fund
Form Type: SC TO-I
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: New
Accession Number: 000119312525034630
Filing Summary: Alternative Investment Partners Absolute Return Fund is providing a tender offer to purchase shares of beneficial interest from its shareholders. This tender offer is intended to acquire up to 15% of the Fund's net assets, equating to a transaction valuation of approximately $42.5 million. The offer commences on February 25, 2025, with critical deadlines including the Initial Notice Date on March 27, 2025, and the Initial Expiration Date set for April 7, 2025. Shareholders can tender their shares for purchase at the net asset value calculated at the Valuation Date, with initial payments to shareholders anticipated to be made within 30 days following that valuation. This offer is contingent on various conditions including the possibility of extension and potential changes to the initial terms based on shareholder participation and market conditions. Shareholders are advised of the risks involved, including potential volatility due to reductions in the Fund's assets and the management's right to amend or suspend the offer at their discretion.
Additional details:
Shares Offered Percentage: 15
Transaction Valuation Dollars: 42488579
Amount Of Filing Fee Dollars: 6505
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
Net Asset Value Per Share: 2567.38
Aggregate Net Asset Value: 295682054
Form Type: SC TO-I/A
Filing Date: 2025-02-25
Corporate Action: Tender-offer
Type: Update
Accession Number: 000119312525034613
Filing Summary: This document is the final amendment to the Issuer Tender Offer Statement filed by Alternative Investment Partners Absolute Return Fund on August 28, 2024. The tender offer was to purchase up to 15% of the Fund's net assets from shareholders at their net asset value. The notice date for shareholders to submit tenders was before midnight on September 27, 2024. Shareholders could withdraw their tenders until midnight on October 7, 2024. Total tenders received amounted to $5,603,539, which were accepted by the Fund. The valuation date for the net asset value of the shares tendered was December 31, 2024. Payments were made in the form of promissory notes on October 24, 2024, with $5,517,167 paid to tendering shareholders by January 31, 2025, representing over 90% of the net asset value of shares tendered. A post-audit payment will also be made based on adjustments from the Fund's annual audit of financial statements.
Additional details:
Transaction Valuation: 44407007
Amount Of Filing Fee: 6554.47
Previously Paid Amount: 6554.47
Previous Filing Date: 2024-08-28
Tender Offer End Date: 2024-10-07
Tender Offer Start Date: 2024-09-27
Tendered Amount: 5603539
Total Payment Made: 5517167
Initial Payment Date: 2025-01-31
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