4. A. Advisory Firm Description
Sage Mountain offers a variety of advisory services, which include financial planning,
consulting, and investment management services. Prior to Sage Mountain rendering any of
the foregoing advisory services, clients are required to enter into one or more written
agreements with Sage Mountain setting forth the relevant terms and conditions of the
advisory relationship (the “Advisory Agreement”).
As part of our fiduciary duty as a registered investment adviser, Sage Mountain endeavors
to put the interests of its clients first, at all times.
Sage Mountain has been registered as an investment adviser since September 2018 and is
owned by Scott Neu (principally through Lake Chutes, Inc.) and Anthony Cox.
While this brochure generally describes the business of Sage Mountain, certain sections
also discuss the activities of its Supervised Persons, which refer to the Firm’s officers,
partners, directors (or other persons occupying a similar status or performing similar
functions), employees or other persons who provide investment advice on Sage Mountain’s
behalf and are subject to the Firm’s supervision or control.
4.B. Types of Advisory Services
Financial Planning and Consulting Services
Sage Mountain offers clients a broad range of financial planning and consulting services,
which include any or all of the following functions:
• Business Planning
• Cash Flow Forecasting
• Trust and Estate Planning
• Financial Reporting
• Investment Consulting
• Insurance Planning
• Retirement Planning
• Risk Management
• Charitable Giving
• Distribution Planning
• Tax Planning
• Manager Due Diligence
While each of these services is available on a stand-alone basis, certain of them can also be
rendered in conjunction with investment portfolio management as part of a comprehensive
wealth management engagement (described in more detail below).
In performing these services, Sage Mountain is not required to verify any information
received from the client or from the client’s other professionals (e.g., attorneys,
accountants, etc.,) and is expressly authorized to rely on such information. Sage Mountain
recommends certain clients engage the Firm for additional related services and/or other
professionals to implement its recommendations. Clients are advised that a conflict of
interest exists for the Firm to recommend that clients engage Sage Mountain or its affiliates
to provide (or continue to provide) additional services for compensation, including
investment management services. Clients retain absolute discretion over all decisions
regarding implementation and are under no obligation to act upon any of the
recommendations made by Sage Mountain under a financial planning or consulting
engagement. Clients are advised that it remains their responsibility to promptly notify the
Firm of any change in their financial situation or investment objectives for the purpose of
reviewing, evaluating or revising Sage Mountain’s recommendations and/or services.
Wealth Management Services
Sage Mountain offers clients wealth management services, which include a broad range of
financial planning and consulting services as well as discretionary and/or non-
discretionary management of investment portfolios.
Sage Mountain primarily allocates client assets among various mutual funds, exchange-
traded funds (“ETFs”), real estate investment trusts (“REITs”) and independent investment
managers (“Independent Managers”) in accordance with their stated investment objectives.
In addition, Sage Mountain expects to recommend that certain eligible clients invest in
privately placed securities including pooled investment vehicles such as hedge funds and
private equity funds.
Where appropriate, the Firm also provides advice about any type of legacy position or
other investment held in client portfolios. Clients can engage Sage Mountain to manage
and/or advise on certain investment products that are not maintained at their primary
custodian, such as variable life insurance and annuity contracts and assets held in
employer sponsored retirement plans and qualified tuition plans (i.e., 529 plans). In these
situations, Sage Mountain directs or recommends the allocation of client assets among the
various investment options available with the product. These assets are generally
maintained at the underwriting insurance
company or the custodian designated by the
product’s provider.
Use of Independent Managers
As mentioned above, Sage Mountain selects certain Independent Managers to actively
manage a portion of its clients’ assets. The specific terms and conditions under which a
client engages an Independent Manager may be set forth in a separate written agreement
with the designated Independent Manager. In addition to this brochure, clients may also
receive the written disclosure documents of the respective Independent Managers engaged
to manage their assets.
Sage Mountain evaluates a variety of information about Independent Managers, which
includes the Independent Managers’ public disclosure documents, materials supplied by
the Independent Managers themselves and other third-party analyses it believes are
reputable. To the extent possible, the Firm seeks to assess the Independent Managers’
investment strategies, past performance and risk results in relation to its clients’ individual
portfolio allocations and risk exposure. Sage Mountain also takes into consideration each
Independent Manager’s management style, returns, reputation, financial strength,
reporting, pricing and research capabilities, among other factors.
Sage Mountain continues to provide services relative to the discretionary or non-
discretionary selection of the Independent Managers. On an ongoing basis, the Firm
monitors the performance of those accounts being managed by Independent Managers.
Sage Mountain seeks to ensure the Independent Managers’ strategies and target allocations
remain aligned with its clients’ investment objectives and overall best interests.
Private Investment Funds
Sage Mountain provides discretionary investment advisory services to pooled investment
vehicles (the “Private Investment Funds”) in accordance with the investment guidelines set
forth in each Private Investment Fund’s offering documents. Sage Mountain is responsible
for the investment decisions and performance of the Private Investment Funds. Sage
Mountain does not tailor its investment advice to the needs of the investors of the Private
Investment Funds. Investors are required to meet certain suitability requirements, such as
being an “Accredited Investor”, a “Qualified Client” and/or a “Qualified Purchaser” as defined
under federal laws. Investors interested in a Private Investment Fund should refer to the
Private Investment Fund’s offering documents for important information regarding the
Private Investment Fund’s investment objectives, risks, fees and additional disclosures for a
complete understanding of the terms and conditions for investing in the relevant Private
Investment Fund.
Sage-Mtn Tiger Global PIP 15 Access GP, LLC, a Delaware limited liability company, is the
General Partner of Sage-Mtn Tiger Global PIP 15 Access Fund LP. Sage-Mtn Tiger Global
Flagship Fund Onshore GP, LLC, a Delaware limited liability company, is the General
Partner of Sage-Mtn Tiger Global Flagship Fund Onshore. Sage-Mtn Tiger Global Flagship
Fund Cayman GP LLC, a Cayman Islands exempted limited partnership, is the General
Partner of Sage-Mtn Tiger Global Flagship Fund Cayman.
4.C. Client Investment Objectives/Restrictions
Sage Mountain tailors its advisory services to meet the needs of its individual clients and
seeks to ensure, on a continuous basis, that client portfolios are managed in a manner
consistent with those needs and objectives. Sage Mountain consults with clients on an
initial and ongoing basis to assess their specific risk tolerance, time horizon, liquidity
constraints and other related factors relevant to the management of their portfolios. Clients
are advised to promptly notify Sage Mountain if there are changes in their financial
situation or if they wish to place any limitations on the management of their portfolios.
Clients can impose reasonable restrictions or mandates on the management of their
accounts if Sage Mountain determines, in its sole discretion, the conditions would not
materially impact the performance of a management strategy or prove overly burdensome
to the Firm’s management efforts.
4.D. Wrap-Fee Programs
Sage Mountain does not currently participate in any wrap-fee programs.
4.E. Client Assets as of December 31, 2022:
Assets Under Management:
Discretionary basis: $ 1,527,241,340
Non-Discretionary basis: $126,289
Assets Under Advisement: $ 1,386,088,447