Avenue Aviation Opportunities Fund II (Offshore), LP

Avenue Aviation Opportunities Fund II (Offshore), LP

New Category LP
Investment Manager Avenue Capital
Fund Status
Archive No
Custodian N/A
Jurisdiction Cayman Islands
T1135 Reporting Yes 
Currency USD
Tax Slip PFIC
Receiver
of Tax Receipt
RFO/Client
Tax Slips Expected
August/September
Statements Expected

Quarterly
Accounting
Treatment
Per PFIC. When distributions are received you will decrease the ACB of the investment until the tax information is received at year-end and then reclassify accordingly
Tax Memo/
Tax Treatment

Per PFIC                                          

In 2021, Assets of the original Opportunities Aviation fund were transferred to other entities in the group. For US tax purposes, the rollover occured on a tax-free basis, however tax-free rollover does not apply for Canadian purposes. As such, the Canadian investors will likely need to realize a capital gian or capital loss on that transfer. 

 

US Tax Return Required

 

No

Type Partnership
Nature
of Investment
Private credit fund operating in the aviation sector.
Notes