Investment Partners, LLC - Tax-Aware Fund

The absence of any prior EDGAR filings from this manager means this is a first filing, signaling either a newly formed manager or one that has previously operated below the $150M AUM registration threshold; the 06b exemption choice and $3M target indicate the fund is explicitly structured to avoid registered adviser status by relying exclusively on pre-existing relationships rather than building a broad LP base.

A June 2026 filing date for a tax-focused hedge fund aligns with Q2 fiscal year-end planning and the mid-year rebalancing cycle when institutions typically commit capital to hedge strategies; this timing suggests the managers are targeting LPs actively deploying in the second half of the calendar year.

Verify whether any of the four named GPs have key-man provisions that require consent or trigger distributions if that individual departs, and confirm Fort Point Capital Partners LLC's role—whether it is a GP co-equal to the three individuals or a managing entity—since this structural ambiguity will directly affect liability and control in the event of GP transition.