A. Organization and Ownership
MIG Capital, LLC (“MIG” or the “Investment Manager”) is a Delaware limited liability
company organized on August 11, 2003. MIG’s principal owners are the E-Richard
Merage GST 09 Trust and the Paul Merage GST 02 Trust, each of which are family trusts
established by and for the benefit of certain members of the Merage family. MIG was
formerly known as MIG Absolute Return, LLC, Falcon Investment Management, LLC and
Vestar Strategic, LLC.
B. Advisory Services
MIG provides investment advisory services to several pooled investment vehicles
organized inside or outside the U.S. that were organized to accept investment from
qualified investors (collectively, the “MIG Funds”). A brief description of the MIG Funds
and their applicable investment strategies is set forth below.
Master Fund and Feeder Funds
MIG Onshore Fund, L.P. is a Delaware limited partnership that invests substantially all or
all of its assets in MIG Master Fund, L.P. (the “Master Fund”), which itself is an exempted
limited partnership organized under the laws of the Cayman Islands. Similarly, MIG
Offshore Fund, Ltd. (together with MIG Onshore Fund, L.P., the “Feeder Funds”), an
exempted company organized under the laws of the Cayman Islands invests substantially
all or all of its assets in the MIG Master Fund, L.P. The investment objective of MIG
Master Fund, L.P. (and of the MIG Offshore Fund, Ltd. and the MIG Onshore Fund, L.P.
invested therein) is to achieve superior long-term, risk-adjusted investment returns while
minimizing the risk of permanent capital loss. MIG seeks to achieve this objective by
leveraging the operational expertise of its investment team to construct a long/short
portfolio of mostly public equities through in-depth fundamental business analysis
combined with rigorous financial analysis.
MIG Venture Capital Fund
MIG Capital VC Fund, L.P. (“Venture Capital Fund”) makes venture capital investments
into private portfolio companies.
C. Tailoring of Investment Advice
MIG tailors its investment decisions for each of the MIG Funds in accordance with the
terms of the applicable private placement memorandum (“PPM”), limited partnership
agreement and/or investment management agreement (collectively, the “Governing
Documents”). Except to the extent set forth in any applicable Fund’s Governing
Documents with respect to certain established strategy or other limitations that MIG
pursues on behalf of such Fund, MIG’s Funds generally do not impose upon MIG any
restrictions on investing in certain securities or types of securities.
D. Wrap Fee Programs
MIG does not provide portfolio management services to any wrap fee programs.
E. Assets Under Management
MIG manages the MIG Funds on a discretionary basis. As of December 31, 2022, MIG’s
regulatory assets under management were approximately $859,643,705.