Independent Verdict
Palmer Square Excelsior Investments Fund, LLC is a verifiable Delaware private investment fund with a clear regulatory and operating connection to Palmer Square Capital Management LLC.
The fund operates under CIK 0001966476 and filed its latest Form D/A on September 17, 2026. The filing reports approximately $240,825,553 sold, a $1,000,000 minimum investment, Rule 506(b), and Section 3(c)(7).
The strongest independent finding is not simply the current fundraising total. It is the multi-year fundraising progression.
The fund initially reported approximately $38.46 million sold in March 2023. By September 2024, cumulative reported sales had increased to approximately $193.93 million. By September 2025, the total reached approximately $239.33 million. The latest September 2026 amendment reports approximately $240.83 million.
That means the fund has grown substantially since launch, but the pace has slowed sharply. Roughly $1.5 million of additional capital was reported between the 2025 and 2026 amendments.
The investor count has also increased gradually from approximately 11 investors in the earlier filing history to about 15 investors in the latest public data.
This creates a useful picture of a private fund that achieved most of its fundraising earlier in its lifecycle and now appears comparatively mature.
Key Findings
Issuer: Palmer Square Excelsior Investments Fund, LLC
CIK: 0001966476
Entity Type: Limited Liability Company
Jurisdiction: Delaware
Formation Year: 2022
Latest Filing: Form D/A
Latest Filing Date: September 17, 2026
Industry: Pooled Investment Fund
Fund Type: Hedge Fund
Federal Exemption: Rule 506(b)
Investment Company Act Exclusion: Section 3(c)(7)
Total Offering: Indefinite
Total Amount Sold: Approximately $240,825,553
Reported Investors: Approximately 15
Minimum Investment: $1,000,000
First Sale: January 1, 2023
Investment Manager: Palmer Square Capital Management LLC
Key Persons:
Christopher D. Long
Jeffrey D. Fox
Principal Address:
1900 Shawnee Mission Parkway Suite 315 Mission Woods, Kansas 66205
Phone:
816-994-3200
Official Website:
palmersquarecap.com
Private Fund ID:
805-2021561951
The Palmer Square Connection Is Direct
The SEC filing identifies Palmer Square Capital Management LLC as a promoter of the fund.
The fund uses the same Mission Woods, Kansas address and the same telephone number shown on Palmer Square Capital Management's official website.
Palmer Square's official site identifies Christopher D. Long as Chairman, CEO and Portfolio Manager.
The same Christopher D. Long appears in the regulatory records associated with Palmer Square Excelsior Investments Fund.
Palmer Square's Form ADV also directly identifies:
PALMER SQUARE EXCELSIOR INVESTMENTS FUND, LLC
as one of its private funds.
That is particularly strong evidence because the fund is not merely linked through a third-party database.
It appears inside the investment adviser's own regulatory filing.
The Form ADV identifies Palmer Square Capital Management LLC as managing member and gives the fund private fund identification number:
805-2021561951.
This makes the manager relationship clear.
The Fund Has Grown From $38.46M to $240.83M
The fundraising history is the most useful part of this review.
March 2023:
Approximately $38.46 million sold.
September 2024:
Approximately $193.93 million cumulative sold.
September 2025:
Approximately $239.33 million cumulative sold.
September 2026:
Approximately $240.83 million cumulative sold.
This means most of the fund's capital growth occurred between 2023 and 2025.
The increase from 2025 to 2026 was only approximately:
$1.5 million.
That does not indicate poor performance.
Form D fundraising data does not measure investment returns.
It simply shows that comparatively little additional subscription capital was reported during the latest twelve-month period.
For FilingDossier, this distinction is important.
A slowing Form D fundraising pace should not be confused with a decline in NAV or investment performance.
The public filing only tells us about securities sold.
Palmer Square Is a Large Credit Manager
Palmer Square Capital Management is an established credit investment firm.
The firm's official website currently states approximately:
$37+ billion in firm assets under management
32 investment professionals
and:
100% management ownership.
The investment platform focuses primarily on:
Corporate credit
Structured credit
CLOs
Credit alternatives
and related income strategies.
Palmer Square also states that it serves institutional investors, family offices, registered investment advisers, banks and other sophisticated clients.
These manager-level figures provide useful context, but they should not be confused with the assets of Palmer Square Excelsior Investments Fund.
The approximately $37 billion figure belongs to the broader Palmer Square platform.
The private fund's Form D reports approximately $240.83 million of cumulative securities sold.
Those are different measurements.
The $1 Million Minimum Signals an Institutional Profile
The latest filing reports a minimum investment of:
$1,000,000.
That places Palmer Square Excelsior Investments Fund firmly in the high-net-worth and institutional private fund segment.
The fund also relies on:
Section 3(c)(7).
That generally indicates a qualified-purchaser-oriented structure.
Therefore, the $1 million minimum is not the only investor eligibility requirement.
Investors must also satisfy the applicable qualification standards under the offering documents.
The fund is not a retail investment product.
What the Fund Likely Focuses On
Palmer Square's broader investment platform focuses on corporate and structured credit.
Its official website describes a relative-value approach across credit markets with an emphasis on risk management.
Public regulatory records classify Palmer Square Excelsior Investments Fund as a hedge fund.
That provides useful strategy context.
However, FilingDossier would not state that the fund owns a specific portfolio of CLOs, loans or bonds unless supported by current fund documents.
Manager-level investment strategy does not automatically equal exact fund-level holdings.
Investors should obtain the current portfolio report to understand actual exposure.
The most important questions include:
Corporate credit allocation
Structured credit allocation
CLO exposure
Investment-grade versus below-investment-grade exposure
Leverage
Duration
Interest-rate sensitivity
Liquidity
Credit concentration
and default exposure.
What We Think
Palmer Square Excelsior Investments Fund has one of the stronger regulatory verification profiles in the current research batch.
The SEC filing confirms:
CIK 0001966476
approximately $240.83 million sold
a $1 million minimum
Rule 506(b)
Section 3(c)(7)
and the Mission Woods address.
Palmer Square's own Form ADV separately confirms the exact fund name and identifies Palmer Square Capital Management LLC as the managing member.
The official Palmer Square website independently confirms the operating address, telephone number, investment team and broader corporate and structured credit strategy.
The most interesting research finding is the fundraising trajectory.
The fund expanded rapidly from roughly $38 million in 2023 to nearly $240 million by 2025, but only about $1.5 million of additional capital was reported in the latest year.
That suggests a more mature fundraising stage.
It does not tell investors whether portfolio performance has improved or weakened.
That requires financial statements and investor reports.
What Investors Should Verify
Investors should review the current NAV, portfolio holdings, gross and net exposure, leverage, CLO exposure, credit quality, default history, realized losses, interest-rate exposure, liquidity terms, redemption frequency, lock-up provisions, management fee, performance allocation, valuation policy, fund administrator, auditor, prime broker, custodian and current Form ADV disclosures.
Investors should also compare the approximately $240.83 million cumulative Form D sales with current fund NAV.
Those two numbers may differ because NAV changes with investment gains, losses, withdrawals and distributions.
Risk Factors
The primary risks are credit risk, structured-credit complexity, leverage, liquidity, private-fund valuation and market-cycle exposure.
Corporate borrowers can default.
Structured credit instruments can experience rapid price changes during periods of market stress.
CLO and leveraged-loan exposure can also be affected by declining credit quality and widening spreads.
Private fund interests are generally illiquid and may be subject to redemption restrictions.
The $1 million minimum investment creates additional concentration risk for investors who allocate a large portion of their portfolio to a single private credit strategy.
Palmer Square's approximately $37 billion firm-wide AUM and long operating history provide manager context, but they do not guarantee the performance of Palmer Square Excelsior Investments Fund.
Form D Is Not SEC Approval
The SEC Form D confirms an exempt securities offering notice.
It does not mean the SEC approved Palmer Square Excelsior Investments Fund, Palmer Square Capital Management, its portfolio assets, valuations or expected returns.
Final Assessment
Palmer Square Excelsior Investments Fund, LLC is a verifiable Delaware private investment fund operating under SEC CIK 0001966476.
Its latest September 17, 2026 Form D/A reports approximately:
$240.83 million sold
a $1 million minimum investment
Rule 506(b)
Section 3(c)(7)
and an indefinite total offering.
The fund can be directly linked to Palmer Square Capital Management through both Form D and the adviser's own Form ADV.
Palmer Square's official website also confirms the same Mission Woods, Kansas address, telephone number and senior investment leadership.
The strongest independent finding is the fund's fundraising history.
Cumulative Form D sales increased from approximately $38.46 million in 2023 to approximately $193.93 million in 2024 and approximately $239.33 million in 2025 before reaching approximately $240.83 million in 2026.
This suggests that the fund completed most of its capital formation earlier and is now in a comparatively mature stage.
For investors, the next level of due diligence should focus on current NAV, portfolio composition, credit quality, leverage, structured-credit exposure, liquidity terms, fees and realized investment performance rather than fundraising totals alone.
SEC Form D is a notice filing for an exempt securities offering. It does not constitute SEC approval, endorsement of Palmer Square Capital Management, verification of portfolio values or a guarantee of investor returns.
Published on FilingDossier: September 20, 2026.
This article is based on publicly available regulatory, investment adviser and company information and is provided for independent research and due-diligence purposes only.