Covariance Offshore Feeder, LP is a hedge fund based in Salt Lake City, Utah. According to its most recent Form D, filed Nov 26, 2025, the fund has sold $30,637,251 of interests to 9 investors since its first sale in Feb 2024. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Based on its first sale date and the amount raised, HedgeMountain classifies it as an emerging manager. Related persons named in the filing include Brian Smedley; The Cynosure Group, LLC; Covariance Fund GP, LLC.
Performance
No verified returns have been reported for this fund. Hedge fund returns are not part of SEC filings; managers report them to HedgeMountain directly.
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- Total raised
- $30,637,251Cumulative sales reported on Form D
- Investors
- 9
- First sale
- Feb 1, 2024
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- Brian Smedley; The Cynosure Group, LLC; Covariance Fund GP, LLC
- Latest Form D
- Nov 26, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and HedgeMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures
Size compared with every hedge fund
Raised more than 67% of the 52 hedge funds based in Utah, and more than 37% of all 10,157 that report sales.