A. General Description of Advisory Firm.
Granite Point Capital Management, L.P., which we will refer to as (“Granite Point,” “we”, “us”,
“our” or the “firm” ), is a Delaware limited partnership formed by Warren Lammert in January
2004, when Granite Point began operations. Granite Point provides discretionary investment
advisory services to its Clients who are private pooled investment vehicles. The General Partner
of Granite Point is GPC I, L.L.C, an entity organized under Delaware laws that is owned solely by
Warren Lammert, our founder and principal owner.
Granite Point and Granite Point’s related person Granite Point Capital, L.L.C., a “Relying
Adviser” and Delaware limited liability company, are both investment advisers. Granite Point
manages pooled investment vehicles exempted from registration under 3(c)(1) or 3(c)(7) under the
Investment Company Act of 1940 or otherwise organized under the laws of the Cayman Islands
and subject to Cayman Islands Monetary Authority (“CIMA”) regulation and oversight. The
Granite Point Funds operate in various structures such as master feeder, a Series Limited
Partnership, and a private equity fund. The Master Fund invests in the Series Limited Partnership
and in the Select Opportunities private equity fund. Specifically, the Granite Point private funds
that it advises are:
• Granite Point Capital Master Fund, L.P.
o Granite Point Capital, L.P.
o Granite Point Capital Offshore Fund, Ltd.
•
Granite Point Capital Focused Opportunities Series Fund, L.P.
o Granite Point Capital Panacea Global Healthcare Fund
o Granite Point Capital 8 Dragons China Opportunities Fund,
o Granite Point Capital Scorpion Focused Ideas Fund, and
•
Granite Point Capital Select Opportunities Fund, L.P.
•
Granite Point Capital Offshore Opportunities Fund, Ltd.,
all individually a Fund or Client, and collectively the “Funds” or “Clients.”
Cassandra Powell, Phillip Dickie, and David Bushley serve as the Directors to the Granite Point
Capital Offshore Fund Ltd., a Cayman Islands exempted company (feeder fund) (formed in March
2004), as well as Granite Point Capital Offshore Opportunities Fund, Ltd. a Cayman Islands
exempted company, formed in December 2017.
The general partner of the investment manager (Granite Point) is GPC I, L.L.C., (also a relying
adviser) a Delaware limited liability company of which Mr. Lammert also serves as the managing
member.
Warren Lammert is the founder and co-CIO primarily responsible for managing Granite Point’s
total investment program on behalf of the Clients. Chiheng Tan is co-CIO and Andre Cheng, and
Alex Trzesniewski are portfolio managers.
The Commodity Future Trading Commission (“CFTC”) is a federal regulatory agency with
jurisdiction over futures trading. The National Futures Association (“NFA”) is the self-regulatory
organization for the U.S. derivatives industry,
including on-exchange traded futures, retail off-
exchange foreign currency (forex) and OTC derivatives (swaps). While the Granite Point Funds
(or “Funds”) trade commodity futures and/or commodity options contracts, the Funds are exempt
from registration with the CFTC as a commodity pool operator (“CPO”) pursuant to CFTC Rule
4.13(a)(3) and Granite Point is exempt from registration as a commodity trading advisor (“CTA”)
under Rule 4.14.
B. Description of Advisory Services (including any specializations)
Granite Point’s investment program entails investing Fund capital directly in a broad range of
securities. Granite Point's investment objective is to maximize returns while seeking preservation
of capital by pursuing a long/short strategy focused on equities, but also including other publicly
traded corporate instruments, currency, interest rate, futures, and commodity positions. From time
to time, certain Granite Point funds may acquire assets that Granite Point believes either lack a
readily assessable market value or should be held until the resolution of a special event or
circumstance (a “Special Investment”). The issuer of such an investment may be a private company
or, if it is a public company, the securities may have been purchased in a private placement;
investors have the opportunity to participate, or not, prospectively in such investments.
Granite Point will have complete flexibility with respect to the types of securities or other
instruments used in pursuing its investment objective and strategy.
Granite Point formulates investment objectives, directs, and manages the investment and
reinvestment of Client assets, and provides reports to investors. Investment advice is provided
directly to the Funds according to the Fund’s particular investment objectives and not individually
to any Fund investor. Fund investors may not impose restrictions on the Fund’s investment
activities.
Our Fund investors are either high net worth individuals (“accredited investors”) or institutional
investors that meet the eligibility criteria as outlined in the respective Fund offering documents.
C. Availability of Tailored Services for Individual Clients
We have full discretionary authority with respect to investment decisions for the Funds/Clients.
When we provide our services at the fund level, it is in accordance with the investment objectives
and guidelines set forth in the Funds’ respective offering documents, and we do not provide
investment advisory services tailored to specific individual investors in our Funds.
D. Wrap Fee Programs.
This is not applicable as we do not offer or participate in any wrap fee programs.
E. Client Assets Under Management.
As of December 31, 2022, Granite Point managed $254,993,951 of Regulatory Assets Under
Management, all of which is managed on a discretionary basis.