Universities Superannuation Scheme Ltd has significantly increased its stake in Constitution Capital Access Fund, LLC, now holding over 63% of the fund's Class I Shares. This acquisition, disclosed in a recent SEC filing, marks a notable shift in ownership and could have implications for investment strategies in the sector.

Background

Constitution Capital Access Fund, LLC, incorporated in Delaware, is a limited liability company focused on investment opportunities. The fund's principal address is located at 300 Brickstone Square, 7th Floor, Andover, Massachusetts. The most recent filing was made on November 4, 2026, under Schedule 13D, indicating significant changes in ownership.

What the Filing Says

The Schedule 13D filing indicates that Universities Superannuation Scheme Ltd, acting as the sole corporate trustee for the Universities Superannuation Scheme, has acquired 42,437,239.68 Class I Shares, representing 63.6% of the total outstanding shares as of September 30, 2026. The filing states, "L8 acquired the Class I Shares from the Issuer in connection with the reorganization of U/C Seed Partnership Fund, L.P. with and into the Issuer." This acquisition is primarily for investment purposes, with plans to participate in future repurchase offers.

Impact

This substantial ownership stake may influence how Constitution Capital Access Fund operates moving forward, particularly in terms of governance and investment strategies. The Universities Superannuation Scheme, a defined benefit occupational pension scheme based in the UK, is known for its strategic investments, which could lead to a more aggressive approach in managing the fund's assets. Other stakeholders in the investment sector may also take note of this shift as it reflects broader trends in pension fund management.

What's Next

The filing does not specify what actions will follow this acquisition. However, it indicates that Universities Superannuation Scheme Ltd intends to participate in future repurchase offers conducted by Constitution Capital Access Fund.