SEC Form ADV Part 2A excerpt (EFTA01354065)

GLDUS143 Henry Nicholas iCapital Advisors, LLC Form ADV Part 2A filing, capital-raising and other expenses incurred in connection with the formation of the Fund and the offering of the Interests (including costs associated with preparing and distributing offering memoranda). These expenses may be subject to a cap based on the terms set forth in each Fund's PPM. Please refer to the applicable Fund PPM for further details. Fund Expenses: The Private Access Fund will generally pay the costs