# EDGAR Filing Document

**Accession Number:** 0001904800
**File Stem:** 0001104659-26-078130
**Filing Date:** 2026-6
**Character Count:** 13031
**Document Hash:** 1ebeb8474805826b57f9d856937704fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-078130.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001104659-26-078130

**CONFORMED SUBMISSION TYPE**: N-8F

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Destiny Alternative Fund (TEI) LLC
- **CENTRAL INDEX KEY:** 0001904800

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

**FILING VALUES:**
- **FORM TYPE:** N-8F
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23814
- **FILM NUMBER:** 261126730

**BUSINESS ADDRESS:**
- **STREET 1:** 235 WEST GALENA
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212
- **BUSINESS PHONE:** 414-299-2217

**MAIL ADDRESS:**
- **STREET 1:** 235 WEST GALENA
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Destiny Alternative Fund (Tax Exempt) LLC
- **DATE OF NAME CHANGE:** 20220629

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Destiny Alternative Fund
- **DATE OF NAME CHANGE:** 20220113

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form N-8F**

**Application for Deregistration of Certain Registered Investment Companies.**

**I.** **General Identifying Information** 

1. Reason fund is applying
 to deregister (check <u>only one</u> *;* for descriptions, *see* Instruction
 1 above):

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| | |
|:---|:---|
| ◻ | **Merger** |

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| | |
|:---|:---|
| 🗹 | **Liquidation** |

---

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| | |
|:---|:---|
| ◻ | **Abandonment of Registration** |

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(Note: Abandonments of Registration answer <u>only</u> questions 1 through 15, 24 and 25 of this form and complete verification at the end of the form.)

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| | |
|:---|:---|
| ◻ | Election of status as a **Business Development Company** |

---

(Note: Business Development Companies answer <u>only</u> questions 1 through 10 of this form and complete verification at the end of the form.)

2. Name of fund: **Destiny Alternative Fund (TEI) LLC** 

3. Securities and Exchange
 Commission File No.: **811-23814** 

4. Is this an initial Form
 N-8F or an amendment to a previously filed Form N-8F?

🗹 Initial Application ◻ Amendment

5. Address of Principal Executive
 Office (include No. & Street, City, State, Zip Code):

**c/o UMB Fund**

**235 West Galena Street**

**Milwaukee, WI 53212**

6. Name, address, and telephone number of individual the Commission staff
 should contact with any questions regarding this form:

**Joshua B. Deringer, Esq.**

**Faegre Drinker Biddle & Reath LLP**

**One Logan Square, Suite 2000**

**Philadelphia, Pennsylvania 19103** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(215) 988 2959**

7. Name, address and telephone number of individual or entity responsible
 for maintenance and preservation of fund records in accordance with rules 31a-1 and 31a-2
 under the Act [17 CFR 270.31a-1, .31a-2]:

**c/o UMB Fund**

**235 West Galena Street**

**Milwaukee, WI 53212**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(414) 299-2270**

NOTE: <u>Once deregistered, a fund is still required to maintain and preserve the records described in rules 31a-1 and 31a-2 for the periods specified in those rules.</u>

8. Classification of fund
 (check only one):

🗹 Management company;

◻ Unit investment trust; or

◻ Face-amount certificate company.

9. Subclassification if the
 fund is a management company (check only one):

◻Open-end 🗹 Closed-end

10. State law under which
 the fund was organized or formed (e.g., Delaware, Massachusetts):

**Delaware**

11. Provide the name and address of each investment adviser of the fund (including
 subadvisers) during the last five years, even if the fund's contracts with those advisers
 have been terminated:

**<u>Investment Adviser:</u>\***

**First Trust Capital Management L.P.**

**225 W. Wacker Drive, 21<sup>st</sup> Floor**

**Chicago, IL 60606<br>** <br> \* *T he Fund invested all or substantially all of its assets in, and was the sole shareholder of, Destiny Alternative Fund Limited (the "Offshore Fund"), a Cayman Islands exempted company that, in turn, invested all or substantially all of its assets in Destiny Alternative Fund LLC (the "Master Fund"), a Delaware limited liability company registered under the 1940 Act as a closed-end management investment company. On January 1, 2026, the Master Fund merged with and into Destiny Alternative Fund ("DAF"), a Delaware statutory trust registered under the 1940 Act as a closed-end management investment company. The Board of the Fund had overall responsibility for the management and supervision of the business operations of the Fund. First Trust Capital Management LP served as the investment adviser to the Master Fund*.

12. Provide the name and address of each principal underwriter of the fund
 during the last five years, even if the fund's contracts with those underwriters have
 been terminated:

**The Fund's shares were offered and sold solely in private placement transactions in reliance on an exemption from registration under Section 4(a)(2) of the 1933 Act and Rule 506 of Regulation D promulgated thereunder.** 

13. If the fund is a unit
 investment trust ("UIT") provide: **N/A** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Depositor's name(s) and address(es):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Trustee's name(s) and address(es):

14. Is there a UIT registered under the Act that served as a vehicle for investment
 in the fund (*e.g.*, an insurance company separate account)?

◻ Yes 🗹 No

If Yes, for each UIT state:

Name(s):

File No.: 811-

Business Address:

15. (a) Did the fund obtain approval from the board of directors concerning the
 decision to engage in a Merger, Liquidation or Abandonment of Registration?

🗹 Yes ◻ No

If Yes, state the date on which the board vote took place: **September 10, 2025.**

If No, explain:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Did the fund obtain approval from the shareholders concerning the
 decision to engage in a Merger, Liquidation or Abandonment of Registration?

◻ Yes 🗹 No

If Yes, state the date on which the shareholder vote took place:

If No, explain: **Pursuant to Section 6.1 of the Fund's Amended and Restated Limited Liability Company Agreement, the Board of Managers, without the vote of shareholders, is permitted to cause a dissolution of the Fund by the affirmative vote of a majority of the Managers. See exhibit (a)(1) to the Fund's Registration Statement, filed with the Securities and Exchange Commission on December 9, 2022. In advance of the Fund's final repurchase offer, the Fund provided notice to investors that the Board had voted to approve the liquidation of the Fund in connection with the related reorganization of the Master Fund.** 

**II. Distributions to Shareholders**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. Has the fund distributed any assets to its shareholders in connection
 with the Merger or Liquidation?

🗹 Yes ◻ No

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If Yes, list the date(s) on which
 the fund made those distributions:<br>
 January 1, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Were the distributions
 made on the basis of net assets?

🗹 Yes ◻ No

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Were the distributions
 made <u>pro rata</u> based on share ownership?

🗹 Yes ◻ No

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If No to (b) or (c) above, describe the method of distributions to
 shareholders. For Mergers, provide the exchange ratio(s) used and explain how it was calculated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Liquidations only</u>:

Were any distributions to shareholders made in kind?

◻ Yes 🗹 No

If Yes, indicate the percentage of fund shares owned by affiliates, or any other affiliation of shareholders:

17. <u>Closed-end funds only</u>:

Has the fund issued senior securities?

◻ Yes 🗹 No

If Yes, describe the method of calculating payments to senior security holders and distributions to other shareholders:

18. Has the fund distributed  **<u>all</u>** of its assets to the fund's shareholders?

🗹 Yes ◻ No

If No,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) How many shareholders does the
 fund have as of the date this form is filed?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Describe the relationship of each
 remaining shareholder to the fund:

19. Are there any shareholders who have not yet received distributions in
 complete liquidation of their interests?

◻ Yes 🗹 No

If Yes, describe briefly the plans (if any) for distributing to, or preserving the interests of, those shareholders:

**III.** **Assets and Liabilities** 

20. Does the fund have any assets
 as of the date this form is filed?

◻ Yes 🗹 No

If Yes,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Describe the type and amount
 of each asset retained by the fund as of the date this form is filed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Why has the fund retained the
 remaining assets?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Will the remaining assets
 be invested in securities?

◻ Yes ◻ No

21. Does the fund have any outstanding debts (other than face-amount certificates
 if the fund is a face-amount certificate company) or any other liabilities?

◻ Yes 🗹 No

If Yes,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Describe the type and amount
 of each debt or other liability:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) How does the fund intend
 to pay these outstanding debts or other liabilities?

**IV.** **Information About Event(s) Leading to Request For Deregistration** 

22. (a) List the expenses incurred
 in connection with the Merger or Liquidation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Legal
expenses: $52,078.77

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Accounting expenses:
 $29,106.00

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Other expenses (list
 and identify separately): $4,196.54

Due Diligence: $1,696.54

Asset Transfer: $2,500.00

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Total
 expenses (sum of lines (i)-(iii) above): $85,381.31

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) How were those expenses allocated? **Pro rata among the reorganization participants** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Who paid those expenses? **First Trust Capital Management L.P.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) How did the fund pay for unamortized
 expenses (if any)? **N/A** 

23. Has the fund previously filed an application for an order of the Commission
 regarding the Merger or Liquidation?

◻ Yes 🗹 No

If Yes, cite the release numbers of the Commission's notice and order or, if no notice or order has been issued, the file number and date the application was filed:

**V.** **Conclusion of Fund Business** 

24. Is the fund a party to any litigation or administrative proceeding?

◻ Yes 🗹 No

If Yes, describe the nature of any litigation or proceeding and the position taken by the fund in that litigation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25. Is the fund now engaged, or intending to engage, in any business
 activities other than those necessary for winding up its affairs?

◻ Yes 🗹 No

If Yes, describe the nature and extent of those activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VI.** **Mergers Only** 

26. (a) State the name of
 the fund surviving the Merger:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) State the file number
 of the fund surviving the Merger:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the merger or reorganization
 agreement has been filed with the Commission, state the file number and date the agreement
 was filed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the merger or reorganization agreement has  **<u>not</u>** been
 filed with the Commission, attach a copy of the agreement as an exhibit to this form.

**VERIFICATION**

The undersigned states that (i) he or she has executed this Form N-8F application for an order under section 8(f) of the Investment Company Act of 1940 on behalf of **Destiny Alternative Fund (TEI) LLC** (ii) he is the President of **Destiny Alternative Fund (TEI) LLC** and (iii) all actions by shareholders, directors, and any other body necessary to authorize the undersigned to execute and file this Form N-8F application have been taken. The undersigned also states that the facts set forth in this Form N-8F application are true to the best of his or her knowledge, information, and belief.

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| | |
|:---|:---|
| &nbsp;&nbsp;Signature | /s/ Michael Peck |
| &nbsp;&nbsp;By | Michael Peck |

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