Schonfeld Strategic Advisors LLC (the “Advisor”) primarily provides discretionary advisory services to
private investment funds, trading vehicles and certain of the Advisor’s affiliates. In limited cases the
Advisor also may provide non-discretionary advisory services to an affiliate. The Advisor’s clients include,
but are not necessarily limited to, private investment funds, trading vehicles and family office related
entities. The Advisor also selects, and delegates trading discretion to, affiliated portfolio managers
(including internal traders) and unaffiliated portfolio managers (collectively, “Portfolio Managers”) which
provide discretionary investment advisory services to clients, including for risk hedging purposes. The
Advisor is a Delaware limited liability company that was formed on September 9, 2015. The Advisor is
owned 100% by three trusts for the benefit of Steven Schonfeld and/or his family (together, with certain
affiliates of Steven B. Schonfeld, including Schonfeld Group Holdings LLC and its subsidiaries, collectively,
“SGH”).
As of January 1, 2023, the Advisor’s regulatory assets under management were $56,945,040,396 on a
discretionary basis.
When acting as a discretionary adviser, the Advisor has discretion to trade directly for clients and allocate
client assets to Portfolio Managers in its discretion. Affiliates that are supervised persons of the Advisor,
including internal traders, are referred to herein as “Internal Portfolio Managers.” Managers and general
partners of U.S. and non-U.S. private investment funds advised by the Advisor are affiliates of the Advisor;
non-U.S. funds are managed by a general partner or Board of Directors, one or more of whose members are
affiliates of the Advisor (as set forth herein, the Board and each manager and general partner shall be each
referred to as a “Manager” and collectively as the “Managers”). Certain Portfolio Managers may also be
affiliated “Relying Advisers” of the Advisor which, in accordance with relevant SEC guidance, operate under
the Advisor’s SEC investment adviser registration. The Advisor may utilize additional or different Relying
Advisers in the future or may cease to utilize any Relying Advisers.
Once selected by the Advisor, the Portfolio Managers exercise investment discretion for certain clients and
trading vehicles (“Trading Vehicles”) managed by the Advisor and its affiliates. Clients’ assets are traded
directly and/or through such Trading Vehicles. Assets of SGH are also traded through such Trading
Vehicles. A Trading Vehicle also may invest in another Trading Vehicle. The assets of each client or Trading
Vehicle are allocated to Portfolio Managers who manage client or Trading Vehicle assets through managed
accounts or sub-accounts thereof. The Advisor determines and adjusts in its discretion the amount of assets
to be allocated to each Trading Vehicle and among the Portfolio Managers and reallocates the amount of
such assets between Portfolio Managers and Trading Vehicles periodically (including monthly). Portfolio
Managers may also manage client and/or Trading Vehicle assets through private investment funds
managed by such Portfolio Managers and/or their respective affiliates.
The investment strategies that the Advisor utilizes for any private investment fund client for which it acts
as an investment adviser, as well as other information about an investment in such fund, including conflicts
of interests, risk factors, and tax and other important disclosures, are described in the particular fund’s
private offering documents, and investors in those funds must refer to such materials for specific
information about such funds. The information in this Brochure is qualified in its entirety by such offering
documents with respect to such private investment funds, which must be read carefully, and in the event of
any conflict between this Brochure and such offering documents, such offering documents will govern. The
Advisor does not tailor its advisory services to the individual needs of the investors in any such fund or
entity, and investors may not impose restrictions on investing in certain securities or types of securities.
The Advisor does not participate in wrap fee programs. As set forth in a fund’s offering documents, various
actual and potential
conflicts of interest exist among the Advisor, the Managers, their respective principals
and their respective employees, agents and affiliates, a fund, other clients, the Portfolio Investments
(hereafter defined), Portfolio Managers, and other clients of the Portfolio Managers, including actual and
potential conflicts of interest related to fees, portfolio composition, portfolio valuation, expense allocation,
selection of counterparties and best execution, treatment of investors, governance matters, limitation of
liability, indemnification, allocation of trades and investment opportunities among various clients of the
Advisor and Portfolio Managers and outside business activities and personal trading.
Certain Committees:
The Advisor has organized an executive committee (the “Executive Committee”) currently comprised of
Ryan Tolkin, Andrew Fishman, and Danielle Pizzo. The Executive Committee functions similarly to a board
of directors and sets the strategic direction of the Advisor and the prioritization of major business initiatives.
The composition of the Executive Committee may vary over time in the discretion of the Advisor. As a
committee, the Executive Committee does not have discretionary authority or direct decision-making
authority over client accounts. The Advisor has also formed a Global Investment Committee and Global
Operating Committee comprised of certain senior officers of the Advsior. Certain senior officers of the
Advisor are also senior officers of certain of its affiliates.
Certain Transactions:
The Advisor and certain of its affiliates entered into certain agreements with a large U.S. public financial
services company (“Financial Services Company”) and certain of its affiliates in 2019, with respect to certain
transactions as set forth below and as described more fully in the funds’ offering documents. The Financial
Services Company is the parent company of an SEC-registered broker-dealer and of other U.S. and non-
U.S. financial services entities. Under these agreements, (i) the Advisor purchased two asset management
companies located in Asia which were owned by a subsidiary of the Financial Services Company and which
specialize primarily in a fundamental equity investment strategy (the “Asia FE Portfolio Managers”), (ii) as
part of the purchase price and in connection with the transactions, an affiliate of the Financial Services
Company shares in certain revenue relating to the management fees and performance-based compensation
charged to, or in respect of, clients utilizing a fundamental equity strategy, including a private fund
primarily utilizing a fundamental equity strategy as well as other clients whose assets are managed or will
be managed by the Asia FE Portfolio Managers, and (iii) an affiliate of the Financial Services Company (the
“Company Investor”) made an investment in a private fund managed by the Advisor, and is entitled to
certain preferential rights as set forth in a side letter arrangement between that fund, the fund’s Manager
and the Advisor and the Company Investor. The applicable funds’ offering documents contain further
disclosures regarding the foregoing transactions, including related conflicts of interest.
As part of the foregoing transactions and as described in the applicable funds’ offering documents, the
Financial Services Company affiliate that receives the revenue share is also entitled to certain rights with
respect to the business of the Advisor, its affiliates and certain funds utilizing a fundamental equity strategy
but is not included in, and does not have authority over, day-to-day decision making with respect to the
Advisor’s business or investments on behalf of the Advisor’s client accounts, including any fund. Such entity
does not have any responsibility for the management or performance of any of the Advisor’s client accounts,
including any fund. The revenue share is calculated across certain funds utilizing a fundamental equity
strategy using a number of benchmarks and factors. The above revenue share does not apply to (i) an
existing fund primarily utilizing a fundamental equity strategy, or (ii) an existing special purpose vehicle
formed for the purpose of allowing certain investors exposure to the other private funds advised by the
Advisor (the “SPV”).