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GAM LSA Private Shares

GASLMOC LX

Overview

Legal Name:
GAM Alternatives UCI Part II SICAV – GAM LSA Private Shares (Lux)
Manager:
GAM Investments
Website:
www.gam.com
Fundraising Status:
Open
Domicile:
Luxembourg
Legal Form:
Lux SICAV (S.A.)
Regulatory Regimes:
Lux UCI (Part II)
Term:
Perpetual-Life
Base Currency:
USD
Launch Year:
2025
Inception Date:
Jul 11, 2025
Size:
$208.2M (as of Feb 28, 2026)
No. of Investments:
29 (as of Oct 31, 2025)
Administrator:
State Street Bank International GmbH, Luxembourg
Investor Eligibility Segments:
Institutional, Professional / Accredited
Permitted Distribution Countries:
Belgium, Finland, France, Germany, Italy

Strategy

GAM LSA Private Shares pursues late-stage venture capital by investing, via a master fund, in primary and secondary equity and equity-linked financings of private, operating growth companies, mainly in the US. The portfolio targets market-leading businesses in their final non-public funding rounds, with concentrated exposure to AI, analytics, fintech, software and related innovation sectors before potential IPO or strategic exit.

Asset Classes:
Venture Capital
Strategy:
Late Stage (VC)
Underlying Investment Type:
Direct investments, Secondaries
Geographic Focus Region:
North America
Geographic Focus:
United States
Sector Focus (GICS):
Information Technology, Financials
Sector Focus (not standardized):
Finance / Payments, Artificial Intelligence, Analytics / Big Data, Aerospace, Enterprise Software, Healthcare/BioTech, E-Commerce, Software, AgTech, Security
Other Focus:
Minority Stake
Leverage Limits Summary:
May borrow via credit facilities; AIFMD leverage capped at 110% (commitment) and 210% (gross).
Investment Limits Summary:
Max 20% of NAV per Portfolio Company; expects <5% voting rights per issuer (max 40% if exceeded).

Performance

for C1 USD Acc share class

Total Returns (% Net of Fees)

Net returns (since inception)C1 USD Acc
Total Return28.6%
Annualized Return66.1%
Best Month(Dec 2025)27.2%
Worst Month(Feb 2026)-0.7%
Risk metrics (since inception)
Volatility53.5%
Sharpe Ratio (4.3% risk-free)1.16
Yearly returns (since inception)

Allocations

Sector allocation

Sector

as of Oct 31, 2025
Target

Sector

as of Oct 31, 2025

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Over time

Sector

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Asset Class allocation

Asset Class

as of Oct 31, 2025
Target

Asset Class

as of Oct 31, 2025

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Asset Class

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Key terms

for C1 USD Acc share class
Share Class
Minimum Subsribtion:
$100,000
Currency:
USD
Inception Date:
Jul 14, 2025
Distribution Type:
Accumulating
Investor Type:
Professional / Accredited
ISIN:
LU3011741363
BBG Ticker:
GASLMOC LX
Liquidity
Gate:
5% of Sub-Fund NAV per quarter.
Gate Level:
Fund level NAV
Redemption Frequency:
Quarterly
Redemption Basis:
NAV per Share as of the Redemption Day
Subscribtion Frequency:
Daily
Subscribtion Basis:
NAV per Share as of the Subscription Day
Fees
Management Fee:
1.90%
Management Fee Basis:
NAV
Performance Fee:
0.00%
Performance Fee Basis:
N/A
Front load (subscription):
5.00%
Up to 5% of gross subscription amount; paid to Investment Manager.
Back load (redemption):
0.00%
No redemption fee at fund level.
Servicing fee:
0.00%

Share classes

NameMin. SubscriptionCurrencyInceptionDistributionInvestor TypeISINBBG Ticker
C1 USD Acc
100,000 USD
USD
2025-07-14
Accumulating
Professional / Accredited
LU3011741363
GASLMOC LX

FAQ

What is GAM LSA Private Shares?
GAM LSA Private Shares is an evergreen Lux UCI fund focused on Venture Capital and managed by GAM Investments.
Who manages GAM LSA Private Shares?
GAM LSA Private Shares is managed by GAM Investments, based in Zürich, Switzerland.
How big is GAM LSA Private Shares?
GAM LSA Private Shares has a size of $208.2M.
What type of fund is GAM LSA Private Shares?
GAM LSA Private Shares is an open-ended / evergreen Lux UCI fund investing in venture capital and domiciled in Luxembourg.
When was GAM LSA Private Shares launched?
GAM LSA Private Shares was launched on Jul 11, 2025 and is structured as a Lux SICAV (S.A.) vehicle with a perpetual-life term.
Where is GAM LSA Private Shares domiciled and regulated?
GAM LSA Private Shares is domiciled in Luxembourg under Lux UCI (Part II).

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