SEC Company Response from Destiny Alternative Fund (TEI) LLC (CIK 0001904800) — Sep 25, 2025
Destiny Alternative Fund (TEI) LLC (CIK 0001904800)
Date: Sept. 25, 2025 · CIK: 0001904800 · Accession: 0001104659-25-093341
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File numbers found in text: 811-23814
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CORRESP
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Faegre Drinker Biddle &
Reath LLP
1500 K Street NW,
Suite 1100
Washington, D.C.
20005
Phone: (202) 842-8800
Fax: (202) 842-8465
www.faegredrinker.com
September 25,
2025
VIA EDGAR TRANSMISSION
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention: Kenneth Ellington
Re: Destiny
Alternative Fund (TEI) LLC (the “Fund” or the
“Registrant”);
(File No.: 811-23814)
Dear Mr. Ellington,
This
letter responds to the Staff’s accounting comments provided via telephone on August 28, 2025, relating to the Fund’s
March 31, 2025 annual report on Form N-CSR (the “Annual Report”). For your convenience, we have repeated each comment
below in bold, and our responses follow your comments. Capitalized terms not otherwise defined herein shall have the meaning ascribed
to them in the Fund's registration statement, unless otherwise indicated.
1. Comment:
Please describe in correspondence the frequency that the “Due from Investment Adviser”
account disclosed in the Consolidated Statement of Assets, Liabilities and Members’
Capital is settled. Please include in the discussion whether the settlement terms are the
same terms as the payment to the Fund’s investment adviser.
Response:
Going forward, the Due from Investment Adviser account will be settled on a quarterly basis. As of March 31, 2025, the Investment
Adviser was waiting for settlement of the Due to Investment Adviser payable from the master fund, Destiny Alternative Fund LLC. The Registrant
and investment adviser have agreed to similar settlement terms for the Due from Investment Adviser as the settlement terms for the Due
to Investment Adviser.
2. Comment:
In future filings on Form N-CSR, please include the Fund’s current investment
objectives, policies and principal risks and any material changes thereto in a single location
in Fund’s Annual Report separate from the notes to the financial statements.
Response:
The Registrant confirms that it will make this change in future filings of its Annual Report on Form N-CSR.
*****
We trust that the
foregoing is responsive to your comments. Questions and comments concerning this filing may be directed to the undersigned at (202) 230-5218
or, in my absence, to Joshua Deringer at (215) 988-2959.
Sincerely,
/s/ Gwendolyn A. Williamson
Gwendolyn A. Williamson
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