Document And Entity Information
Document And Entity Information | 6 Months Ended |
Sep. 30, 2023 | |
Document Information [Line Items] | |
Entity Registrant Name | Sweater Cashmere Fund |
Document Type | N-CSRS |
Amendment Flag | false |
Entity Central Index Key | 0001868950 |
Document Period End Date | Sep. 30, 2023 |
N-2
N-2 | 6 Months Ended |
Sep. 30, 2023 $ / shares | |
Cover [Abstract] | |
Entity Central Index Key | 0001868950 |
Amendment Flag | false |
Document Type | N-CSRS |
Entity Registrant Name | Sweater Cashmere Fund |
Other Transaction Expenses [Abstract] | |
Annual Expenses [Table Text Block] | Fees and Transactions with Related Parties and Other Agreements The Fund has entered into an Investment Management Agreement with the Adviser, pursuant to which the Adviser provides general investment advisory services for the Fund. For providing these services, the Investment Adviser receives a fee from the Fund, accrued daily and paid monthly in arrears, at an annual rate equal to 2.50% of the Fund’s average daily net assets. For the six months ended September 30, 2023, the Fund accrued $159,781 in investment management fees. The Adviser has entered into an expense limitation agreement (“Expense Limitation Agreement”) with the Fund, pursuant to which the Adviser has agreed to waive its management fees and/or reimburse Fund expenses to the extent necessary so that the Fund’s total annual operating expenses (excluding any taxes, interest, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, such as litigation or reorganization costs, but inclusive of organizational costs and offering costs) (“Operating Expenses”) do not exceed 5.90% of the Fund’s average daily net assets. The Expense Limitation Agreement is in effect through August 15, 2024. The Fund has agreed to repay the Adviser for any management fees waived and/or Fund expenses the Adviser reimbursed pursuant to the Expense Limitation Agreement, provided the repayments do not cause the Fund’s Operating Expenses to exceed the expense limitation in place at the time the management fees were waived and/or the Fund expenses were reimbursed, or any expense limitation in place at the time the Fund repays the Adviser, whichever is lower. Any such repayments must be made within three years after the Adviser waived the fee or reimbursed the expense. As of September 30, 2023 the Adviser may seek recoupment for previously waived expenses subject to the Expense Limitation Agreement noted above, the following amounts are subject to recoupment by the Adviser by the following dates: Period of Expiration March 31, 2025 $ 209,030 March 31, 2026 $ 1,974,626 For the six months ended September In consideration of the services rendered by those Trustees who are not “interested persons” (as defined in Section 2(a)19 of the 1940 Act) of the Trust (“Independent Trustees”), the Fund pays each Independent Trustee an annual retainer of $25,000. Independent Trustees are also reimbursed by the Fund for expenses they incur relating to their services as Trustees, including travel and other expenses incurred in connection with attendance at in -person Certain officers of the Fund and members of the Board are also officers of the Adviser. Employees of PINE Advisors LLC (“PINE”) serve as officers of the Fund. PINE receives a monthly fee for the services provided to the Fund. The Fund also reimburses PINE for certain out -of-pocket UMB Fund Services, Inc. serves as the Fund’s Administrator, Accounting Agent, and Transfer Agent. UMB Bank, n.a. serves as the Fund’s Custodian. |
General Description of Registrant [Abstract] | |
Investment Objectives and Practices [Text Block] | The Fund’s investment objective is to generate long -term -linked -investing |
Risk Factors [Table Text Block] | 11. Risk factors An investment in the Fund involves a high degree of risk and may be considered speculative. The following list is not intended to be a comprehensive listing of all the potential risks associated with the Fund. The Fund’s prospectus provides further details regarding the Fund’s risks and considerations. • -up • • • -up -stage • • • |
NAV Per Share | $ 21.15 |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | |
Capital Stock [Table Text Block] | Capital share transactions Fund shares are continually offered under Rule 415 of the Securities Act of 1933, as amended. As an interval fund, the Fund has adopted a fundamental policy requiring it to make semiannual (twice a year) repurchase offers pursuant to Rule 23c -3 During the six months ended September 30, 2023, the Fund completed one repurchase offer. The result of this repurchase offer is as follows: Required Repurchase Offer Commencement Date July 31, 2023 Repurchase Request Deadline August 31, 2023 Repurchase Pricing Date August 31, 2023 Repurchase Pricing Date Net Asset Value $21.27 Shares Repurchased 32,269 Value of Shares Repurchased (Before Redemption Fees) $686,459 Percentage of Shares Repurchased |
Other Securities [Table Text Block] | Restricted securities Restricted securities include securities that have not been registered under the Securities Act of 1933, as amended, and securities that are subject to restrictions on resale. The Fund may invest in restricted securities that are consistent with the Fund’s investments objectives and investment strategies. Investments in restricted securities are valued at fair value as determined in good faith in accordance with procedures adopted by the Board. Additional information on each restricted investment held by the Fund on September 30, 2023 is as follows: Investment Initial Cost Fair % of After Services, Inc. – Tranche 1 6/6/2022 $ 250,000 $ 267,500 2.0 % After Services, Inc. – Tranche 2 6/6/2022 250,000 267,500 2.0 % Cabinet Health P.B.C. 2/14/2023 500,000 500,000 3.8 % Cloud Apartments, Inc. 5/8/2023 250,000 250,000 1.9 % Curate Capital Fund I, LP 7/1/2022 170,000 159,289 1.2 % Drupely, Inc. dba Graza 6/17/2022 200,000 569,400 4.3 % EarlyBird Central, Inc. 6/3/2022 400,000 410,000 3.1 % EdInvent, Inc. dba Accredible 7/29/2022 250,000 312,500 2.4 % Eloit Street, Inc. dba Guest House Series C-2 Preferred Stock 11/8/2022 300,000 305,918 2.3 % FEAT Socks, Inc. 6/15/2022 250,000 212,500 1.6 % Frances Valentine, LLC 11/18/2022 500,000 550,000 4.3 % Ganas Ventures I, a series of Ganas Ventures, LP 7/1/2022 125,000 113,645 0.9 % GO, Inc. Series Seed-1 Preferred Stock 11/18/2022 500,000 519,640 3.9 % Grapefruit Health, Inc. 5/2/2023 125,000 125,000 0.9 % Havenly, Inc. Warrants 2/10/2023 — — 0.0 % Havenly, Inc., Series C-1 Preferred Stock 2/10/2023 249,996 266,337 2.0 % Hearth Display, Inc. 1/6/2023 250,000 250,000 1.9 % Hikerkind, Inc. 8/10/2023 250,000 250,000 1.9 % Impressionism Capital Fund I, L.P. 4/20/2023 50,000 40,459 0.3 % IQ Bar, Inc. Series B Preferred Stock 8/12/2022 250,000 250,000 1.9 % IsoTalent, Inc. – Series Seed-1 Preferred Stock 7/8/2022 1,000,000 1,099,503 8.3 % Lazzaro Medical, Inc. 7/1/2022 250,000 262,500 2.0 % Line Financial, P.B.C 8/17/2023 500,000 500,000 3.8 % Nada Holdings, Inc. 6/17/2022 100,000 110,000 0.9 % Nomadica Series Seed-6 Preferred Stock 7/1/2022 250,000 311,871 2.5 % Parallel Health, Inc. 6/28/2022 250,000 262,500 2.0 % Pear Suite, Inc. 11/14/2022 250,000 250,000 1.9 % Shappi, Inc. 9/16/2022 250,000 250,000 1.9 % Stonks Y Combinator Summer 2022 Access Fund, a Series of Stonks Funds, LP – Class A 9/16/2022 150,000 149,231 1.1 % SweatPals, Inc. 5/3/2023 125,000 125,000 0.9 % The Last Game Board, Inc. 12/9/2022 250,000 250,000 1.9 % Time Therapeutics Inc. (Hone Health) 5/25/2023 250,000 250,000 1.9 % Trellis Technologies, Inc. 6/1/2023 250,000 250,000 1.9 % Trellis Technologies, Inc. Warrants 6/1/2023 — — 0.0 % True Footage Inc. – Series A Prime Preferred Stock 7/29/2022 250,000 272,901 2.1 % Wyndly Health, Inc. 9/13/2022 500,000 500,000 3.8 % $ 9,744,996 $ 10,463,194 79.5 % |