Overview
a) Background
CICC ALPHA INVESTMENT MANAGEMENT (USA), LLC was founded in June 2017. CICC ALPHA is wholly owned by
CICC ALPHA INVESTMENT Group Limited (Cayman).
b) Advisory Services and Principal Investment Strategies
CICC ALPHA provides investment advisory services specializing in the management of pooled private
investment vehicles to a private equity fund, the Golden Road Capital Fund L.P., on a fully discretionary basis
(the “Fund”). The Fund is organized as a limited partnership.
In November 2017, CICC ALPHA entered into a Sub-Advisory agreement with NB Alternatives Advisers LLC (a
subsidiary of Neuberger Berman Group LLC) to advise the Fund. CICC ALPHA seeks to achieve attractive risk-
adjusted returns by investing predominantly in direct private equity investments alongside leading private
equity sponsors. The Firm will seek to build an appropriately diversified portfolio of high-quality direct private
equity investments primarily in North America and Europe. The Firm will focus its investments primarily on
buyout transactions, and may opportunistically take advantage of special situations, growth capital, venture,
and credit investment opportunities. The Firm intends to be diversified across industry sectors. It intends to
take a minority position in each investment.
CICC ALPHA will also seek to invest opportunistically
in a variety of mid-life situations, such as add-on
acquisitions, recapitalizations, and partial divestitures of existing portfolio companies of lead private equity
firms. The Firm believes that these transactions typically benefit from attractive buy-in valuations from a lack
of a control premium.
c) Tailored Advice and Client-Imposed Restrictions
The Fund has its own investment objectives, strategies and restrictions. CICC ALPHA prepares offering
materials with respect to the Fund that contain more detailed information. These serve as a limitation on the
actions of CICC ALPHA’s investment team with regard to the Fund.
Unless otherwise specified, the Fund is not necessarily tailored to meet the individualized investment needs
of any particular investor (“Investor”) or client (“Client”). An investment in the Fund does not create a client-
adviser relationship between CICC ALPHA and an Investor. Further discussion of the strategies, investments
and risks associated with the Fund investment is included in the relevant materials for each type of Investor.
d) Wrap Fee Disclosure
Not applicable.
e) Assets Under Management
As of September 30, 2023, CICC ALPHA had regulatory assets under management of approximately $
172,667,341, all of which was managed on a discretionary basis.
6 | P a g e