DIMA TEF II Review 2026: Is It Legit? SEC Form D & Quattro Advisors Analysis

Independent Verdict

DIMA TEF II is a verifiable private-investment structure connected to Quattro Advisors, an established Pittsburgh-based investment adviser with an active advisory business, multiple private funds and a traceable U.S. regulatory history.

The fund's legal entity is DIMA TEF II Feeder LP.

Its September 18, 2026 Form D/A identifies the issuer as a Delaware limited partnership using Rule 506(b). The same filing identifies DIMA TEF II Feeder GP LLC as general partner and Quattro Advisors, L.L.C. as a related person. The issuer uses the same Pittsburgh address and phone number published by Quattro Advisors.

The most important fact, however, is not simply that a Form D exists.

This vehicle is explicitly structured as a feeder fund.

Public private-fund data reports approximately $20.6 million in gross assets and a $250,000 minimum investment. It also identifies PNC Bank as custodian, Formidium as administrator and Baker Tilly US as auditor.

That gives DIMA TEF II a stronger operational verification trail than a private offering supported only by a website and an SEC notice.

The main unanswered question is structural:

What exact underlying fund or portfolio does DIMA TEF II Feeder invest into

Public filings establish the feeder, its manager, its general partner and its reported assets, but they do not publicly explain the complete underlying TEF II structure or disclose the portfolio companies.

Our conclusion is therefore:

DIMA TEF II appears to be a legitimate and traceable private-equity feeder fund operating within Quattro Advisors' broader private-fund platform. The most important remaining diligence issue is understanding the underlying investment vehicle, portfolio, fee layers and actual fund-level performance.

Is DIMA TEF II Legit

Based on the public evidence reviewed, DIMA TEF II is a real private-fund structure.

The legal issuer:

DIMA TEF II Feeder LP

was formed in Delaware in 2024.

Its latest Form D/A was filed on:

September 18, 2026

under:

CIK 0002035812

The issuer's principal business address is:

3495 Butler Street Pittsburgh, Pennsylvania 15201

and its phone number is:

412-586-5406.

The same address and phone number appear on Quattro Advisors' official investment-adviser brochure.

That address consistency directly connects:

DIMA TEF II;

its general partner;

and Quattro Advisors.

This is stronger than simply finding two entities with similar names.

Who Is Quattro Advisors

Quattro Advisors, L.L.C. is the investment-management firm associated with DIMA TEF II.

Its official brochure identifies:

Quattro Advisors, LLC

3495 Butler Street, Suite 100 Pittsburgh, PA 15201

and states that the firm is a Registered Investment Advisor.

Its CRD number is:

146438.

Current public adviser data reports approximately:

$662 million in regulatory assets under management

across approximately:

2,075 client accounts

with:

5 private funds

reported through its latest available Form ADV relationships.

Separate private-fund data reports approximately:

$661.7 million in regulatory AUM

and combined gross private-fund assets of about:

$81.3 million.

This is an important distinction.

Quattro is not a giant global manager.

But it is also not an adviser created solely around one private offering.

It has a wider advisory and private-fund business.

Quattro's Regulatory Identity

Quattro's SEC-related records identify:

CRD: 146438

SEC File Number: 801-80531

Its public Form 13F reporting also uses those regulatory identifiers.

That provides an additional cross-check that Quattro is an operating investment manager rather than merely a fund sponsor name.

The firm's regulatory identity can therefore be independently traced through:

Form ADV;

Form CRS;

Form 13F;

private-fund disclosures;

and DIMA-related Form D filings.

This type of cross-source consistency is one of the stronger legitimacy signals available from public records.

The Most Important Issue: This Is a Feeder Fund

The word:

Feeder

is not a minor legal suffix.

It is central to understanding the investment.

A feeder fund typically collects capital from investors and then invests that capital into another underlying fund or master vehicle.

A simplified structure may look like:

Investor

↓

DIMA TEF II Feeder LP

↓

Underlying TEF II Vehicle

↓

Portfolio Companies or Other Investments

That creates an additional layer between the investor and the ultimate assets.

The public Form D confirms the feeder vehicle.

It does not disclose the complete underlying investment structure.

That means investors need to understand:

What is the full legal name of the underlying TEF II fund

Who is its general partner

Who actually selects the portfolio investments

Does the feeder invest substantially all of its capital into one vehicle

Are there direct-investment or co-investment positions

Are fees charged at both feeder and underlying-fund levels

Those questions are more important than the existence of the Form D itself.

SEC Filing Snapshot

The latest filing shows:

Issuer: DIMA TEF II Feeder LP

CIK: 0002035812

Entity Type: Limited Partnership

Jurisdiction: Delaware

Year Formed: 2024

Principal Office: Pittsburgh, Pennsylvania

Form: Form D/A

Latest Filing: September 18, 2026

Exemption: Rule 506(b)

Industry: Pooled Investment Fund

General Partner: DIMA TEF II Feeder GP LLC

Related Manager: Quattro Advisors, L.L.C.

The latest public filing index describes the offering amount as undisclosed.

That should not be interpreted as meaning the fund has no assets.

The Fund Already Had About $20.6M Before the Latest Amendment

One potential source of confusion is the 2026 amendment.

The latest filing may show no useful offering amount in public summaries.

However, historical and Form ADV-derived data provide more context.

Public private-fund data reports:

approximately $20.6 million in gross assets

for DIMA TEF II Feeder.

Earlier Form D history reported approximately:

$20.625 million sold

after the fund began raising capital in late 2024.

Therefore, the absence of a new amount in the latest amendment should not be read as:

"the fund has raised nothing."

A more accurate interpretation is:

the fund already had a material capital base before the September 2026 amendment.

Minimum Investment

Public private-fund data reports a minimum investment of:

$250,000.

That places the vehicle firmly outside ordinary retail investing.

The likely investor base is more consistent with:

high-net-worth investors;

family offices;

professional investors;

and institutional or qualified private-market participants.

The exact eligibility standard should still be verified in the current subscription documents.

The Operating Infrastructure Is a Strong Verification Point

DIMA TEF II has identifiable independent service providers.

Public Form ADV-derived private-fund data identifies:

Custodian: PNC Bank

Administrator: Formidium

Auditor: Baker Tilly US.

This is important.

A private fund becomes easier to verify when the operating structure includes independent firms responsible for:

asset custody;

fund administration;

and financial audit.

These service providers do not guarantee investment performance.

They also do not eliminate fraud or valuation risk.

But their presence provides materially more institutional infrastructure than a structure in which the manager controls every operational function internally.

DIMA Is a Broader Fund Family

DIMA TEF II is not the only DIMA vehicle associated with Quattro.

Current Form ADV-linked data identifies five Quattro-related private funds, including:

DIMA TEF II Feeder LP

DIMA Courtside Fund, LP

DIMA GP Insight Fund, LP

DIMA Relative Offshore Fund

DIMA Relative Fund LP.

Reported capital across these funds varies significantly.

For example:

DIMA GP Insight Fund is shown with approximately:

$34.7 million

while DIMA Relative Fund is associated with approximately:

$15.1 million in reported fundraising data.

This shows that DIMA is better understood as a Quattro private-fund family rather than a single one-off product.

Other DIMA Funds Help Verify the Operating Model

Another Quattro vehicle, DIMA Courtside Fund, also reports:

PNC Bank;

Formidium;

and Baker Tilly US

as service providers.

That repeated infrastructure is useful.

It suggests that Quattro has built a recurring operating framework for at least part of its private-fund platform.

Other DIMA vehicles use different service providers.

For example, DIMA Relative Fund reports:

Northbrook Bank & Trust;

Harneys Fiduciary Cayman;

and Weaver and Tidwell.

This indicates that Quattro does not necessarily use the same operational structure for every fund.

Investors should therefore evaluate each DIMA vehicle independently.

Who Runs Quattro

Public adviser data identifies:

Luigi Gaspare Di Ianni

and:

David Emery Mandler

as significant owners and senior figures associated with Quattro Advisors.

Private-fund data describes:

Luigi Di Ianni as:

Founder / Adviser / CCO

and David Mandler as:

Member.

Mandler's public adviser-registration record also confirms his current relationship with Quattro Advisors and the same Pittsburgh office.

Their involvement provides management continuity across:

the adviser;

the DIMA platform;

and the underlying fund structures.

What Does TEF II Mean

This remains one of the most important unresolved questions.

Public records clearly use the name:

DIMA TEF II Feeder LP

but the sources reviewed do not provide a reliable public expansion of:

TEF II

or identify the underlying fund in a way that allows us to independently verify its full investment strategy.

We therefore do not infer the meaning from the initials.

That would be speculation.

For an investor, this should be one of the first questions asked:

What is the full legal name and investment mandate of TEF II

What Does the Fund Actually Own

Public private-fund data classifies DIMA TEF II Feeder as a:

Private Equity Fund.

That is useful, but still broad.

The public sources reviewed do not disclose:

underlying portfolio companies;

industries;

geographic allocations;

vintage;

buyout exposure;

growth-equity exposure;

venture exposure;

secondary interests;

co-investments;

or underlying manager concentration.

That lack of portfolio transparency is the biggest limitation in evaluating investment quality.

Company Size and Market Position

Quattro is substantially smaller than managers such as L&G, ICONIQ or major global alternative-asset firms.

Current adviser data reports roughly:

$662 million in regulatory AUM

and around:

2,075 client accounts.

That makes it meaningful as a regional wealth and private-investment platform, but not a large global institutional manager.

This distinction affects the due-diligence framework.

For a manager of this size, investors should pay particular attention to:

operational staffing;

key-person risk;

private-fund governance;

asset allocation between funds;

business continuity;

service-provider oversight.

Market Reputation

Quattro does not have the same volume of major financial-media coverage as large institutional asset managers.

That makes conventional "market reputation" harder to assess from headlines alone.

For a firm like Quattro, more useful indicators are:

regulatory continuity;

AUM;

number of clients;

senior-management continuity;

private-fund history;

service-provider quality;

public filing consistency.

On those measures, Quattro has a meaningful operating footprint.

However, the lack of extensive independent institutional coverage means investors have less public information available to verify:

historical private-fund performance;

institutional track record;

and reputation among sophisticated LPs.

That does not make the manager illegitimate.

It means direct due diligence becomes more important.

Regulatory and Disciplinary Review

The public materials reviewed for this article did not reveal a major SEC enforcement action against Quattro Advisors comparable to enforcement matters seen at some larger managers.

Quattro's public Form CRS directs investors to its IAPD record and advises clients to review disciplinary information for the firm and individual advisers.

One representative record reviewed for Andrei Voicu reports:

No disclosure events.

That should not be generalized to every employee.

A prospective investor should review:

the current firm Form ADV;

Form CRS;

and individual IAPD records

before making an investment decision.

The Website and Fund Filing Match

Quattro's official brochure lists:

3495 Butler Street, Suite 100 Pittsburgh, PA 15201

Phone:

412-586-5406.

DIMA TEF II's Form D identifies:

3495 Butler Street Pittsburgh, PA 15201

and:

412-586-5406.

This is a useful identity check.

It confirms that the private fund is connected to the actual operating adviser rather than an unrelated entity using a similar name.

Company Strengths

Established Adviser

Quattro operates an active regulated advisory business rather than existing solely to sponsor DIMA TEF II.

Meaningful Assets Under Management

Approximately $662 million in reported regulatory AUM indicates a substantial advisory platform for a regional manager.

Broad Client Base

More than 2,000 accounts are associated with the adviser in current public data.

Multiple Private Funds

The DIMA platform includes several separate funds rather than a single private vehicle.

Independent Service Providers

PNC Bank, Formidium and Baker Tilly provide meaningful external infrastructure around DIMA TEF II.

Management Continuity

Senior Quattro figures have long-standing relationships with the firm.

Strong Entity Consistency

The website, adviser records and fund filings point to the same Pittsburgh operation.

Risks and Concerns

Feeder-Fund Complexity

An investor is exposed through an additional legal layer rather than directly to the underlying assets.

Underlying TEF II Structure Is Not Publicly Clear

This is the fund's most important transparency gap.

Portfolio Companies Are Not Public

Investors cannot assess sector or company concentration from Form D alone.

Performance Is Not Public

No public net IRR, TVPI, DPI or other complete private-equity return history was found for DIMA TEF II.

Potential Fee Layering

Feeder structures can create additional expenses.

Investors need to determine whether they pay:

feeder expenses;

underlying management fees;

carried interest;

or other layered costs.

Cross-Fund Allocation Risk

Quattro manages multiple DIMA funds.

Investors should understand how overlapping opportunities are allocated.

Manager Scale

Quattro is an established adviser, but it does not have the personnel or capital base of a major global alternative manager.

What We Verified vs. What We Could Not Verify

What Investors Should Ask For

Prospective investors should request:

the current fund organization chart;

Private Placement Memorandum;

Limited Partnership Agreement;

Subscription Agreement;

underlying TEF II legal name;

underlying general partner;

underlying investment manager;

current NAV;

committed capital;

called capital;

unfunded commitments;

portfolio-company list;

industry exposure;

geographic exposure;

gross IRR;

net IRR;

TVPI;

DPI;

RVPI;

management fee;

carried interest;

feeder-level expenses;

underlying-fund expenses;

audited financial statements;

Baker Tilly audit confirmation;

Formidium administrator confirmation;

PNC custody confirmation;

valuation methodology;

allocation policy;

side-letter policy.

For DIMA TEF II specifically, five questions matter most.

1. What exactly is TEF II

The full legal name and mandate should be disclosed.

2. Which underlying fund does the feeder own

Investors should know the direct legal asset held by the feeder.

3. Is There a Double Layer of Fees

Feeder costs must be separated from underlying fund fees and carry.

4. What Has the $20.6M Actually Been Invested Into

Committed capital and deployed capital are not the same thing.

5. What Are the Actual Portfolio Companies

Without this information, investors cannot assess concentration, industry risk or valuation risk.

Final Assessment

DIMA TEF II is a legitimate and traceable private-fund structure associated with Quattro Advisors.

The fund's legal identity can be verified.

Its general partner can be verified.

Its manager can be verified.

Its Pittsburgh business address matches the manager's official records.

Approximately $20.6 million of gross fund assets are reported through public private-fund disclosures.

Independent service providers — PNC Bank, Formidium and Baker Tilly US — provide additional operational verification.

Quattro itself operates a broader investment-advisory business with approximately $662 million in regulatory AUM, more than 2,000 reported accounts and multiple private funds.

Those are meaningful positive findings.

The biggest limitation is not legitimacy.

It is transparency into the underlying investment.

Because DIMA TEF II is explicitly a feeder, investors need to know exactly where feeder capital ultimately goes.

The complete underlying fund identity, portfolio companies, performance and full fee structure are not sufficiently visible in public sources.

That is where further diligence should focus.

FilingDossier Research Conclusion

Company / Fund Name: DIMA TEF II

Fund Legal Entity: DIMA TEF II Feeder LP

Manager: Quattro Advisors, L.L.C.

General Partner: DIMA TEF II Feeder GP LLC

CIK: 0002035812

Form: Form D/A

Rule: 506(b)

Latest Filing: September 18, 2026

Fund Type: Private Equity / Pooled Investment Fund

Reported Gross Assets: Approximately $20.6M

Historical Amount Sold: Approximately $20.625M

Minimum Investment: $250K

Manager CRD: 146438

Manager SEC File: 801-80531

Manager Regulatory AUM: Approximately $662M

Custodian: PNC Bank reported

Administrator: Formidium reported

Auditor: Baker Tilly US reported

Underlying TEF II Vehicle: Not publicly clear

Public Portfolio Disclosure: Limited

Public Performance: Not established

Independent Conclusion: DIMA TEF II is a verifiable private-equity feeder fund operating within Quattro Advisors' established private-fund platform. The manager, legal entities and operational service providers are well supported by public records. The main unresolved diligence issue is the feeder structure itself: investors should identify the underlying TEF II vehicle, portfolio, fee layers and actual performance before evaluating investment quality.

Primary Sources Reviewed

This review relied primarily on:

• SEC Form D and Form D/A filings
• Quattro Advisors Form ADV
• Quattro Advisors Form CRS
• Quattro Advisors official materials
• SEC Form 13F records
• Form ADV private-fund disclosures
• DIMA-related fund records
• Public adviser-registration records
• Independent private-fund service-provider data

Where data refers to Quattro Advisors generally rather than DIMA TEF II specifically, this article keeps those facts separate.

Important Notice

A Form D filing is a notice of an exempt securities offering.

It does not mean that the SEC has approved the fund, reviewed the underlying portfolio or verified investment performance.

SEC registration of an investment adviser also does not constitute endorsement of a private fund.

FilingDossier is an independent public-record research platform and is not affiliated with DIMA, Quattro Advisors or the U.S. Securities and Exchange Commission.

This article is provided for informational and research purposes only and does not constitute investment, legal or financial advice.