General Description and Principal Owners. Alcion Ventures, Limited Partnership (“Alcion” or
the “Firm”), including its affiliated general partner entities, is a privately held real estate
investment management firm. Formed in December 2004, Alcion provides investment advisory
services primarily to pooled investment vehicles (each a "Fund," and together the “Funds”) that
are excluded from the definition of “investment company” under the Investment Company Act of
1940, as amended, and which securities are not registered under the Securities Act of 1933, as
amended (the “Securities Act”). Alcion also may provide advisory services through co-investment
vehicles or separately managed accounts to institutional clients (each an “Account” and
collectively the "Accounts"). The portfolio overseen by Alcion is generally composed of office,
residential, retail, industrial, land, hotel, and debt investments throughout the United States and
parts of Canada.
Alcion is a Delaware limited partnership. The principal owners of Alcion are Martin Zieff, Mark
Potter, and Eugene DelFavero (the “Principals”). The Principals own in excess of 95% of the
Alcion equity interests, with the remaining ownership held by a strategic partner. Alcion is
managed and directed by the Principals.
Advisory Services Offered. Alcion’s primary business is providing investment advisory services
to its clients, the Funds. Each Fund is a traditional closed-end pooled investment fund with
unspecified real estate investments to be selected by the Fund’s general partner with the assistance
of Alcion. The Funds invest in and own real estate through their ownership of equity interests in
limited partnerships,
limited liability companies, and other vehicles. Each Fund is available for
investment only via a “private offering” and is intended only for investment by “accredited
investors,” as those terms are defined under the Securities Act. Alcion provides advice relating to
the identification, acquisition, management, monitoring, and disposition of investments and
investment opportunities for the Funds. In addition, Alcion may provide investment management
advice on both a discretionary and non-discretionary basis to co-investment vehicles and
institutional clients. Non-discretionary services may include strategic advice and oversight
relating to specific real estate assets owned by the client through its ownership of equity interests
in limited partnerships, limited liability companies, and other vehicles.
As of December 31, 2023, Alcion Real Estate Partners, L.P. and Alcion Real Estate Partners
Parallel Fund, L.P. have been fully liquidated.
Tailoring to Individual Needs and Investment Restrictions. Alcion tailors advisory services to
the specific needs of the Funds, co-investment vehicles and institutional clients to address
particular legal or tax concerns. For example, if a Fund’s investors are non-U.S. persons, that
Fund may require advice regarding investment structures to address specific U.S. tax issues. The
Funds contain specific investment limitations and parameters for investment that are set forth in
their respective offering documents.
Assets Under Management. As of December 31, 2023, Alcion’s assets under management were
$331,262,984, consisting of $324,307,702 (Discretionary basis) and $6,955,282 (Non-
Discretionary basis).