SWICH Series of SW Iteram Series LLC

This is the manager's first EDGAR filing on record, indicating either a new fund establishment or a first-time formalization of a previously informal vehicle—the single named GP structure suggests a founder-led operation without institutional co-GP partners typical of larger PE platforms.

A mid-2026 filing from a debut manager aligns with LP capital redeployment cycles and potential dry powder allocation following 2025 market stabilization, though the placeholder status means the manager is preparing infrastructure ahead of confirmed demand rather than responding to imminent close pressure.

Verify the key-man clause coverage, specifically whether Gruenwald Gaspar's participation is mandatory for fund operations and any associated removal or continuation triggers—and confirm whether this placeholder will be amended with a specific target within 90 days or if it remains indefinitely pending LP interest.