Legacy Investment Group LLC

The absence of prior EDGAR filings from this manager signals this is a first-time fund raise, which typically reflects either a GP spinning out from another firm, a newly credentialed operator, or someone previously operating below the $150M AUM threshold—each scenario carries different risk profiles for LP due diligence on team stability and operational infrastructure.

A mid-2026 filing in a private equity context aligns with LP allocation cycles that begin ramping in Q2 for deployment into 2027-2028, but the 06b exemption limiting this raise to pre-existing relationships suggests Colon has a defined investor base ready to commit rather than conducting a broad market test.

Verify whether Colon has a key-man clause tied to his own involvement and what happens to fund governance if he becomes unavailable; also confirm whether this $85M target reflects a hard cap or a placeholder that may expand with follow-on closes, as the lack of manager history makes fund-sizing assumptions material to LP returns.