Aspiriant Risk-Managed Capital Appreciation Fund (the “Fund”) is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as a non-diversified, closed-end management investment company. The Fund operates under an Amended and Restated Agreement and Declaration of Trust dated January 1, 2023 (the “Declaration of Trust”). Aspiriant, LLC serves as the investment adviser (the “Investment Manager”) of the Fund. The Investment Manager is an investment adviser registered with the Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, as amended.
News and Notices
Aspiriant
Apr 01, 2021
Tender Offer CEF
'40 Act
Quarterly
Daily
USD
March 31
News and Notices
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May 27, 2026
09:16
Redemption
Aspiriant Capital Appreciation Fund is offering to repurchase up to 5.00% of net assets, approximately $8.1 million or 656,922 shares, at net asset value determined on December 31, 2026. Investors must submit tenders by December 17, 2026, unless extended.
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May 29, 2024
13:43
Fee, Marketing Material, Subscription
Aspiriant Capital Appreciation Fund updated its prospectus for a continuous $250 million public offering, with net annual expenses of 4.83% after waivers. Investors generally subscribe quarterly and rely on approximately 5% quarterly repurchase offers for liquidity.
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Dec 28, 2023
09:11
Redemption
Aspiriant Capital Appreciation Fund offered to repurchase up to 5.00% of net assets, $7.2 million or 643,501 shares, at September 30, 2026 net asset value. Investors must tender by September 16, 2026; if accepted, they receive at least 98% within 65 days.
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Mar 21, 2025
14:52
Compliance
Aspiriant Capital Appreciation Fund provided its 2026 annual proxy voting notice for the year ended June 30, 2026, with no series or explanatory information included.
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Feb 24, 2024
10:35
Redemption
Aspiriant Capital Appreciation Fund reported final tender offer results: four shareholders had tendered shares accepted with $2.5 million net asset value as of March 31, 2026, and received 100% unaudited value on May 15, 2026.
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Aug 28, 2025
09:10
Marketing Material, Redemption
Aspiriant Capital Appreciation Fund is offering to repurchase up to approximately 5.00% of net assets, or about $7.5 million and 653,537 Shares, at NAV, with tenders due by June 17, 2026 and valuation as of June 30, 2026. Accepted tendering Shareholders will receive a non-interest-bearing promissory note with at least 98% paid in cash within about 65 days and any balance after the next annual audit.
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Nov 02, 2024
09:03
Compliance
Variant Alternative Income Fund renewed joint fidelity bond coverage from December 31, 2025 to December 31, 2026, with $2.5 million limits and a $250,000 electronic mail fraud sub-limit. Participating funds share premiums and any inadequate recovery under the joint agreement.
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Oct 18, 2025
14:50
Redemption
Aspiriant Capital Appreciation Fund’s final amendment reports that its $7.0 million tender offer was accepted from five Shareholders, with tendered Shares having $1.26 million of NAV as of December 31, 2025. Four Shareholders received full cash payments, and one Shareholder received at least 98% now with a contingent post-audit payment due after the May 2026 audit.
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Apr 03, 2024
10:12
Redemption
Aspiriant Capital Appreciation Fund filed a final amendment reporting the results of its $6.9 million tender offer: five Shareholders tendered and the Fund accepted Shares with an aggregate NAV of $1.6 million. Cash payments were wired on November 18, 2025, and any Post-Audit Payment will be made after the annual audit expected by the end of May 2026.
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May 23, 2024
12:42
Marketing Material, Redemption
Aspiriant Capital Appreciation Fund is offering to repurchase up to 5.00% of net assets, or about $7.3 million and 616,344 Shares, at NAV, with tenders due by March 16, 2026 and valuation on March 31, 2026. Accepted Shareholders will receive a non-interest-bearing promissory note, with at least 98% paid in cash within about 65 days and any balance after the annual audit.
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Preview
Aspiriant Capital Appreciation Fund
Aspiriant is responsible for managing Aspiriant Capital Appreciation Fund.
Aspiriant Capital Appreciation Fund launched in 2021.
Aspiriant Capital Appreciation Fund is registered as a '40 Act fund.
Aspiriant Capital Appreciation Fund is structured as a Tender Offer CEF fund.
You can invest in Aspiriant Capital Appreciation Fund by meeting its eligibility requirements and subscribing through the fund's offering process or an approved platform. Visit their website for more details.
You can invest in Aspiriant Capital Appreciation Fund daily, subject to eligibility and fund subscription deadlines.
You can redeem shares of Aspiriant Capital Appreciation Fund quarterly, subject to redemption limits and notice requirements.
Shares of Aspiriant Capital Appreciation Fund can be purchased in USD.
Aspiriant Capital Appreciation Fund's fiscal year end is March 31.
Aspiriant Capital Appreciation Fund's net asset value was $161.9 million and its portfolio had a fair value of $163.3 million as of June 30, 2026.
Among other deal types, Aspiriant Capital Appreciation Fund primarily makes Fund Investments.
Among other asset classes, Aspiriant Capital Appreciation Fund primarily invests in Hedge Fund.
Among other regions, Aspiriant Capital Appreciation Fund primarily invests in North America and Globally.
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