One River Total Portfolio Onshore LP

With no prior EDGAR filings from this manager, this is One River's first registered vehicle on record, meaning the fund either operated previously as a private placement below reporting thresholds, launched recently, or is the entity's inaugural institutional raise—the 06c exemption choice (investment adviser over $150M AUM) implies the manager already operates at scale but is formalizing this particular onshore vehicle for domestic capital.

A May 2026 amendment to a $39M target in a rising-rate environment suggests the manager is either downsizing an initial raise goal, responding to slower commitments from its LP base, or restructuring terms mid-cycle—hedge funds filing amendments mid-year typically indicate either extended fundraising timelines or material changes to fees, strategy scope, or GP economics that required restating the offering.

Before committing, verify whether Ian Malloch carries a key-person provision that gates redemptions or performance fees to his active involvement, and confirm whether One River Asset Management is a registered investment adviser with prior Form ADV filings that detail assets under management, fee history, and any disciplinary events—a manager's first registered onshore hedge fund warrants baseline compliance and operational background confirmation.