Relay Investment, a series of BlueArc Private Direct Investments, LP

The three-GP structure with Ronald Zazworsky, Jr. named alongside two BlueArc entities signals a founder-led or key-person dependent operation; the absence of any prior EDGAR filings from BlueArc Capital Management means this is either a newly formed manager, a previously unregistered shop crossing into reportable territory, or a smaller operation that has stayed below the radar until now.

A June 2026 filing for a direct investment vehicle at this smaller target suggests BlueArc is moving to formalize or refresh a pre-existing syndication practice—direct funds typically draw LPs who have already committed capital through prior relationships, making an exemption 06b raise logical, but the timing points to either a completed LP commitment round the manager is now documenting or an effort to establish a formal fund structure before year-end capital deployment windows close.

Verify whether Zazworsky carries a key-man clause tied to fund operations and what happens to LP capital if he departs, confirm whether this Relay series has a stated term or is open-ended, and determine if BlueArc has filed any parallel vehicles or continuation structures under different series names that would signal how many LPs or capital pools are actually being managed across the umbrella.