# EDGAR Filing Document

**Accession Number:** 0001742836
**File Stem:** 0001145549-25-046342
**Filing Date:** 2025-7
**Character Count:** 21051
**Document Hash:** 6abf9b589aa24903d7ed12bd984ca734
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-046342.hdr.sgml**: 20250714

**ACCESSION NUMBER**: 0001145549-25-046342

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250714

**DATE AS OF CHANGE**: 20250714

**EFFECTIVENESS DATE**: 20250714

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Macquarie Focused Access Fund, LLC
- **CENTRAL INDEX KEY:** 0001742836

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23355
- **FILM NUMBER:** 251120817

**BUSINESS ADDRESS:**
- **STREET 1:** C/O CENTRAL PARK ADVISERS, LLC
- **STREET 2:** 125 WEST 55TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-317-9200

**MAIL ADDRESS:**
- **STREET 1:** C/O CENTRAL PARK ADVISERS, LLC
- **STREET 2:** 125 WEST 55TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CPG Focused Access Fund, LLC
- **DATE OF NAME CHANGE:** 20180606

## Internal

```

Report of Independent Registered
Public Accounting Firm
To the Board of Directors and
Unitholders of CPG Focused Access
Fund, LLC
In planning and performing our audit of
the financial statements of CPG Focused
Access Fund, LLC (the "Fund") as of and
for the year ended April 30, 2025, in
accordance with the auditing standards
of the Public Company Accounting
Oversight Board (United States)
(PCAOB), we considered the Fund's
internal control over financial reporting,
including controls over safeguarding
securities, as a basis for designing our
auditing procedures for the purpose of
expressing our opinion on the financial
statements and to comply with the
requirements of Form N-CEN, but not
for the purpose of expressing an opinion
on the effectiveness of the Fund's
internal control over financial reporting.
Accordingly, we do not express an
opinion on the effectiveness of the
Fund's internal control over financial
reporting.

The management of the Fund is
responsible for establishing and
maintaining effective internal control
over financial reporting. In fulfilling this
responsibility, estimates and judgments
by management are required to assess
the expected benefits and related costs
of controls. A company's internal control
over financial reporting is a process
designed to provide reasonable
assurance regarding the reliability of
financial reporting and the preparation
of financial statements for external
purposes in accordance with generally
accepted accounting principles. A
company's internal control over
financial reporting includes those
policies and procedures that (1) pertain
to the maintenance of records that, in
reasonable detail, accurately and fairly
reflect the transactions and dispositions
of the assets of the company; (2) provide
reasonable assurance that transactions
are recorded as necessary to permit
preparation of financial statements in
accordance with generally accepted
accounting principles, and that receipts
and expenditures of the company are
being made only in accordance with
authorizations of management and
directors of the company; and (3)
provide reasonable assurance regarding
prevention or timely detection of
unauthorized acquisition, use or
disposition of a company's assets that
could have a material effect on the
financial statements.

Because of its inherent limitations,
internal control over financial reporting
may not prevent or detect
misstatements. Also, projections of any
evaluation of effectiveness to future
periods are subject to the risk that
controls may become inadequate
because of changes in conditions, or that
the degree of compliance with the
policies or procedures may deteriorate.

A deficiency in internal control over
financial reporting exists when the
design or operation of a control does not
allow management or employees, in the
normal course of performing their
assigned functions, to prevent or detect
misstatements on a timely basis. A
material weakness is a deficiency, or a
combination of deficiencies, in internal
control over financial reporting, such
that there is a reasonable possibility that
a material misstatement of the
company's annual or interim financial
statements will not be prevented or
detected on a timely basis.

Our consideration of the Fund's internal
control over financial reporting was for
the limited purpose described in the first
paragraph and would not necessarily
disclose all deficiencies in internal
control over financial reporting that
might be material weaknesses under
standards established by the PCAOB.
However, we noted the following
deficiency in the Fund's internal control
over financial reporting and its
operation, including controls over
safeguarding securities, that we consider
to be a material weakness as defined
above as of April 30, 2025.

A material weakness exists in the design
and operating effectiveness of controls
over the determination of the
appropriate classification and
presentation of cash and cash
equivalents in the Fund's financial
statements. More specifically, the
controls were not designed to determine
(i) the appropriate identification,
classification, and presentation of cash
and cash equivalents in accordance with
GAAP during the new account set up
process and (ii) the appropriate and
consistent reporting in the Fund's
financial statements.  While this
deficiency did not result in an error in
the financial statements of the Fund,
this material weakness, if not
remediated, could result in
misstatements related to the
classification and presentation of cash
and cash equivalents that would result
in a material misstatement to the
financial statements that would not be
prevented or detected.

Management has developed a plan to
enhance the Fund's controls and
remediate the material weakness
described above. Management's plan
enhances the controls to determine and
document the appropriate GAAP
classification of new bank accounts
during the new account set up process
and validate its application during the
financial reporting process to verify
appropriate and consistent presentation
and disclosure in the financial
statements. We have not performed any
procedures to assess this proposed
corrective action, including its
sufficiency in addressing the material
weakness described above.

This report is intended solely for the
information and use of the Board of
Directors of CPG Focused Access Fund,
LLC and the Securities and Exchange
Commission and is not intended to be
and should not be used by anyone other
than these specified parties.
/s/ PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
June 27, 2025
1

```

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0001742836

## N-CEN: Series/Class (Contract) Information

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2025-04-30

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Macquarie Focused Access Fund, LLC

- **Item B.1.b - Investment Company Act file number:** 811-23355

- **Item B.1.c - CIK:** 0001742836

- **Item B.1.d - LEI:** 549300XZRQJX5MB6ZF89

- **Item B.2.a - Street 1:** 660 5th Avenue New York, NY 10103

- **Item B.2.b - City:** NEW YORK

- **Item B.2.c - State:** NY

- **Item B.2.e - Zip Code:** 10019

- **Item B.2.f - Telephone:** 2123179200

- **Item B.2.g - Public Website:** https://www.macquarie.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** UMB Fund Services, Inc.

- **b. Street 1:** 235 West Galena Street

- **c. City:** Milwaukee

- **d. State, if applicable:** WI

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 53212

- **g. Telephone number:** 4142992410

- **h. Briefly describe the books and records kept at this location:** Transfer Agent and Administrator

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** Macquarie Wealth Advisers, LLC

- **b. Street 1:** 660 5th Avenue New York, NY 10103

- **c. City:** NEW YORK

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10019

- **g. Telephone number:** 2123179200

- **h. Briefly describe the books and records kept at this location:** Investment Advisor

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** Macquarie

### Item B.6 - Organization

- [ ] a. Open-end management investment company registered under the Act on Form N-1A

- [x] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** —

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** No

### Item B.8 - Directors

| Name                 | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                          |
|:---|:---|:---|
| Joan Shapiro Green   | No                      | 811-22763, 811-23258, 811-23931, 811-22764, 811-23610, 811-23354, 811-23835, 811-23726, 811-23452, 811-23590                                                                   |
| Kristen M. Leopold   | No                      | 811-23452, 811-22634, 811-23354, 811-22635, 811-23726, 811-23931, 811-22743, 811-22792, 811-23787, 811-23258, 811-23610, 811-22763, 811-22764, 811-23835, 811-24024, 811-23590 |
| Janet L. Schinderman | No                      | 811-22764, 811-23610, 811-23835, 811-22763, 811-23258, 811-23452, 811-23726, 811-23354, 811-09205, 811-23931, 811-23590                                                        |
| Sharon J. Weinberg   | No                      | 811-23835, 811-23726, 811-23452, 811-22763, 811-22764, 811-23258, 811-23354, 811-23931, 811-23610, 811-23590                                                                   |
| Alex Lee             | Yes                     | 811-22763, 811-23258, 811-23610, 811-22764, 811-23452, 811-23726, 811-23354, 811-23835, 811-23931                                                                              |
| Ruth Goodstein       | Yes                     | 811-23931 , 811-23590 , 811-23452 , 811-23726 , 811-22763, 811-23354, 811-22764, 811-23258, 811-23610 , 811-23835                                                              |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Seth L. Pearlstein

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** 660 5th Avenue New York, NY 10103

- **d. City:** New York

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 10019

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-30547

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Delaware Distributors, L.P

- **ii. SEC file number:** 8-29755

- **iii. CRD number:** 000014232

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** PA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers

- **b. PCAOB Number:** 00238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** DE

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Macquarie Focused Access Fund, LLC

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Macquarie Focused Access Fund, LLC

- **c. LEI:** 549300XZRQJX5MB6ZF89

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [x] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [ ] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** Yes

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** No

- **b. Were any expenses reduced or waived?** No

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Macquarie Wealth Advisers, LLC

- **ii. SEC file number:** 801-67480

- **iii. CRD number:** 000141805

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** UMB Fund Services, Inc.

- **ii. SEC file number:** 084-05792

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** WI

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

No Pricing Services reported.

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** UMB BANK, NATIONAL ASSOCIATION

- **ii. LEI, if any:** VNOO6EITDJ2YUEBMSZ83

- **iii. State, if applicable:** MO

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** UMB Fund Services, Inc.

- **ii. LEI, if any:** 084-05792

- **iii. State, if applicable:** WI

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** UMB Fund Services, Inc.

- **ii. LEI, if any, or other identifying number:** 084-05792

- **iii. State, if applicable:** WI

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

No Affiliated Broker-Dealers reported.

**Item C.16. Brokers.**

No Brokers reported.

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $0.00

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $1,003,228,064.00

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **b. Did the Fund engage in interfund lending?** —

- **c. Did the Fund engage in interfund borrowing?** —

## Part E: Additional Questions for ETFs and ETMFs

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Macquarie Focused Access Fund, LLC

**Date:** 2025-07-11

**Signature:** /s/ Trishamarie Chan 

**Title:** Principal Financial Officer