Under Rule 506(c) of Regulation D of the Securities Act of 1933 (introduced as part of the Jumpstart our Business Startups Act of 2012), private investment funds like the Alturas Real Estate Fund, are exempt from registering with the Securities and Exchange Commission (SEC) on the condition that the Fund only accepts investments from “Accredited Investors”.
According to the SEC, an Accredited Investor is:
OR
OR
OR
* See the Electronic Code of Federal Regulations for a complete list of Accredited Investor qualifications.
Assuming you meet one or more of the requirements outlined by the SEC, you qualify as an accredited investor. In some exempt offerings, you can self-report that you are an accredited investor, but usually you need to verify that status with the investment company with whom you are working.
In the case of the Alturas Real Estate Fund, which is a 506c offering, the manager of the Fund must verify that you are accredited before you can invest. Verification can be achieved by providing the following documentation to the Fund manager or to a 3rd party, such as verifyinvestor.com, who can attest that you are an accredited investor.
For the purposes of this test, the positive value of your primary residence is not included in the net worth calculation, however debt incurred during the last 60 days against the primary residence, or any debt in excess of the value of the primary residence is counted.
If you have any questions about the Alturas Real Estate Fund, or investing with Alturas, please contact us today.
This information is for informational purposes only and not for the purpose of providing legal or financial advice. You should contact your CPA, Financial Advisor, or attorney to obtain advice with respect to any particular issue or investment.
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