Alternative Investment Portfolio
Real-money results from litigation finance, real estate, and private credit — 2016 to present
Portfolio Summary
| Category | Deployed | Returned | Status |
|---|---|---|---|
| Litigation Finance | $4,004,062 | $2,311,825 | 3 funds active, 3 cases pending |
| Real Estate | $390,270 | $408,800 | Closed |
| Private Credit | $1,129,475 | $1,295,822 | Closed |
Litigation Finance
Funding commercial lawsuits in exchange for a share of settlements or judgments. High variance, uncorrelated to markets.
Private LF Fund Investments
| Fund | Commitment | Contributions | Distributions | Status |
|---|---|---|---|---|
| Fund 2020 | $1,000,000 | $949,757 | $709,177 | Harvesting |
| Fund 2024 | $1,500,000 | $554,305 | $300,000 | Investing |
| Fund 2026 | $1,000,000 | $1,000,000 | $0 | Investing |
Contributions and Distributions reflect actual cash wired (gross basis). Returns of called capital from subsequent-close rebalancing are included as Distributions; catch-up interest from late-joining LPs may cause cash wired to differ from the fund’s book contribution.
LexShares — Direct Case Investments
Active Cases
| Case | Date | Investment | Stage |
|---|---|---|---|
| Tribal Contract | Mar 2017 | $5,000 | Tribal Trial Jul 13–16, 2026 ($1,791 partial) |
| Bovine Pharma | May 2018 | $75,000 | Award ~Aug–Sep 2026 |
| Surveillance Patent | Dec 2018 | $100,000 | Oral Argument Jul 29, 2026 |
LexShares Active Total: $180,000 | 3 cases
Resolved Cases
| Case | Date | Invested | Returned | IRR | MOIC | Outcome |
|---|---|---|---|---|---|---|
| Software Contract | Mar 2017 | $10,000 | $10,000 | 0% | 1.00x | Settlement |
| Commercial Lease | Apr 2017 | $50,000 | $0 | (100%) | 0x | Judgment |
| ICSID Arbitration | May 2017 | $50,000 | $0 | (100%) | 0x | Discontinued |
| Toy Licensing | Jun 2017 | $25,000 | $64,135 | 65.57% | 2.57x | Settlement |
| Trademark | Jun 2017 | $50,000 | $55,006 | 3.45% | 1.10x | Settlement |
| NFL Fraud | Jul 2017 | $75,000 | $134,295 | 1740.72% | 1.79x | Settlement |
| Knights of Columbus | Aug 2017 | $170,000 | $149,937 | (4.41%) | 0.88x | Judgment |
| Counterfeit Equipment | Sep 2017 | $47,500 | $0 | (100%) | 0x | Settlement |
| Transit Lease | Sep 2018 | $82,500 | $0 | (100%) | 0x | Judgment |
| Trade Secrets | Nov 2018 | $150,000 | $263,269 | 57.03% | 1.76x | Buyout |
| Roundup | Feb 2019 | $25,000 | $42,399 | 28.45% | 1.70x | Judgment |
| Passport Patent | Apr 2019 | $25,000 | $45,897 | 9.43% | 1.84x | Settlement |
| Medical Finance Fraud | Feb 2020 | $30,000 | $50,703 | 65.32% | 1.69x | Settlement |
| Fuel Injection Patent | Apr 2020 | $30,000 | $33,710 | 2.56% | 1.12x | Award |
LexShares Resolved Total: $820,000 → $849,351 | 14 cases
YieldStreet — Litigation Finance Notes
| Offering | Date | Invested | Returned | IRR | Status |
|---|---|---|---|---|---|
| LC DiverPSP XXV | Dec 2017 | $250,000 | $289,248 | 13.14% | Repaid |
| CF LawFF VII | Apr 2018 | $250,000 | $162,277 | (10.31%) | Default |
YieldStreet Litigation Finance Total: $500,000 → $451,525 | IRR: (4.52%)
Real Estate
Bridge loans and equity investments via real estate crowdfunding platforms. Exited all positions by 2019.
iFunding
| Project | Date | Invested | Returned | IRR | Status |
|---|---|---|---|---|---|
| EVIVA Midtown | Sep 2016 | $100,000 | $118,860 | 19.45% | Repaid |
| ProudLiving | Oct 2016 | $250,000 | $250,000 | 0% | Expired |
iFunding Total: $350,000 → $368,860 | IRR: 15.36%
Groundfloor
| Loans | Invested | Returned | IRR | Status |
|---|---|---|---|---|
| 11 repaid | $25,380 | $26,804 | 16.2% | Closed |
| 2 defaults | $14,890 | $13,136 | (8.5%) | Default |
Groundfloor Total: $40,270 → $39,940 across 13 loans | Account-level IRR: 3.58%. The two figures sit on different bases: loan principal and repayments net to a $330 loss, while the 3.58% is measured on cash wired into and out of the Groundfloor account, which cycled $127,039 through repeated redeployment — so capital actually at risk was well below that gross figure.
Private Credit
Small business and consumer lending through direct lending funds and marketplace platforms. Exited all positions.
| Platform | Invested | Returned | IRR | Status |
|---|---|---|---|---|
| Direct Lending Income Fund | $710,000 | $835,501 | 10.03% | Closed |
| YieldStreet QS STSBF I | $70,000 | $87,033 | 12.82% | Repaid |
| LendingClub | $349,475 | $373,288 | 5.25% | Closed |
Private Credit Total: $1,129,475 → $1,295,822 | IRR: 8.93%
