Alternative Liquidity Index LP, a Delaware limited partnership affiliated with Alternative Liquidity Capital, announced an offer to purchase up to 238,000 Class I shares of the Wildermuth Fund for $2.50 each. The most recently established net asset value of the Wildermuth Fund shares was $10.00 each as of Aug. 14, 2023.
The Wildermuth Fund board of trustees approved and adopted a plan of liquidation for the fund, effective June 29, 2023. Around the same time, all purchases and repurchases were suspended. The fund is no longer actively pursuing its stated investment objective or strategies, and instead is operating solely to liquidate the fund’s assets and prepare for an “orderly dissolution.”
Effective Nov. 1, 2023, the investment advisory agreement between the fund and Wildermuth Advisory LLC was terminated, and Daniel and Carol Wildermuth resigned from their positions in the fund and on the board of trustees. As of the same date, the board of trustees appointed BW Asset Management Ltd., a subsidiary of Kroll, as interim investment adviser, pursuant to an interim investment advisory agreement. The replacement was “necessary to effect the plan of liquidation and as Wildermuth Advisory LLC was financially incapable of continuing as investment advisor to the fund.”
Due to the Wildermuth Fund’s quarterly repurchase offers being suspended, Alternative Liquidity Capital says this offer “provides a way for legacy investors to get cash for their investment.”
The tender offer expires on Dec. 20, 2023.