The Spaventa Group LLC
Known domains/brands: TSG Capital Advisors LLC, TSG Alpha Partners LLC
Public warning:
Published · updated · 3 min read
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What is the Spaventa Group case about?
On 14 August 2026, the SEC announced charges against Andrew Spaventa and three firms: The Spaventa Group LLC, TSG Capital Advisors LLC and TSG Alpha Partners LLC.
The SEC is a US investment watchdog. It says more than 800 investors put over US$74 million into 11 funds between December 2020 and June 2025.
Many people approached were retirees. The SEC describes sales calls that put pressure on people to buy. Read the SEC case announcement.
What does pre-IPO mean?
It means before a company first sells shares to the public on a stock market. The offer here was access to shares in private companies through funds.
Buying part of a fund is different from owning shares directly. In this case, investors bought interests in funds. That detail matters when you check your own papers.
How were the fees allegedly hidden?
The SEC says Spaventa's firms bought shares, then sold them to the funds at higher prices. Investors paid those higher prices through their fund interests.
It says the prices were, on average, about 46% above what Spaventa had paid. This is the alleged price increase, not a claimed 46% loss for every investor.
The SEC says sales pitches promised no upfront fees or fees no higher than 12.5%. It alleges about US$23 million in upfront fees in total.
These details come from the SEC's court complaint. The complaint sets out what the SEC seeks to prove.
Has a court decided the case?
The documents reviewed for this report describe a civil lawsuit. We have not verified a final ruling. Filing a complaint does not mean the court has proved every claim.
The SEC seeks money and court orders against the defendants. That request is not a promise that each investor will get a refund.
What should you check if you invested?
Start with the legal name on your agreement. Then gather the fund name, amount paid, payment date and any statements you received.
Compare the fee terms with the sales emails and call notes you kept. Mark any gap between what you were told and what the papers say.
Keep the original files. A short timeline may help you explain the issue to your bank, a regulator or a qualified adviser.
Does an unexpected call always mean fraud?
No. A call alone does not prove a crime. In this case, the concern is the SEC's specific evidence about sales claims and hidden fees.
Do not rush a new payment because someone says an offer will close today. Ask for the full terms in writing and take time to check them.
Need help understanding the papers?
Request a free call. Tell us which fund you paid and your country. We can talk through the report and help you identify questions to ask next.
We cannot decide the court case or promise to recover your investment. If you suspect a recent payment is at risk, contact your bank promptly.
Sources
Check this yourself, where you live
Do not take our word for it. Choose your country to find local registers and places to ask for help. What they can do depends on where you live and how you paid.
Choose your country to see local contacts. If it is not listed, you can ask our team for help.
🇬🇧 The United Kingdom
🔎 Check the firm
FCA Firm Checker — Search the firm name, its website, or the reference number it gave you.
🚨 Report it
Report Fraud (City of London Police) — Report online or call 0300 123 2040. In Scotland, call Police Scotland on 101.
↩ Ask for your money back
Financial Ombudsman Service — Complain to the firm first, then bring it here. Free, and it can order the firm to pay.
Every address above was opened and checked by us on 30 September 2026. Tell us if one has moved.
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