Sona Asset Management (US) LLC (the “Firm”, “we”, “us”, or “our”) is a limited liability company formed
in Delaware, with its principal place of business in New York.
The Firm is a wholly-owned subsidiary of Sona Asset Management Limited, which is itself a wholly-owned
subsidiary of Sona Asset Management Cayman Limited (the “Cayman Manager”). John Brian Aylward is
the ultimate beneficial owner of the Cayman Manager.
The Firm has a sub-advisory relationship with Sona Asset Management (UK) LLP (the “UK LLP”). The Firm
provides investment advisory services to a managed account (the “Managed Account”) which is a
portfolio in a private investment fund (the “Paloma Fund”), under an Investment Management
Agreement (the “Agreement”) between the Cayman Manager, the UK LLP, and Paloma Partners
Management Company (“Paloma”). Sona Asset Management conducts trading for the Managed Account
in a manner that observes the strategy and risk parameters provided by Paloma and agreed with Sona
Asset Management from time to time.
The Firm, the Cayman Manager, and the UK LLP are herein referred to as “Sona Asset Management”.
The Firm also serves as the investment adviser, with discretionary trading authority, to private, pooled
investment vehicles, the securities of which are offered through a private placement memorandum to
accredited investors, as defined under the Securities Act of 1933, as amended, and qualified purchasers,
as defined under the Investment Company Act of 1940, as amended. The Firm does not tailor advisory
services to the individual needs of any particular investor.
As of December 2023, the Firm manages the following private, pooled investment vehicles:
• Sona Credit Master Fund Limited (the “Credit Master Fund”);
• Sona
Credit Fund Limited (the “Credit Offshore Fund”);
• Sona Credit Fund LP (the “Credit Onshore Fund”);
• Sona Credit Opportunities Fund Limited (the “Credit Opportunities Master Fund”);
• Sona Credit Opportunities Fund Limited (the “Credit Opportunities Offshore Fund”);
• Sona Credit Opportunities Fund LP (the “Credit Opportunities Onshore Fund”); and
• Sona Asset Management SPV I Limited (the “SPV”).
The Credit Master Fund, the Credit Offshore Fund, the Credit Onshore Fund, the Credit Opportunities
Master Fund, the Credit Opportunities Offshore Fund, the Credit Opportunities Onshore Fund, and the
SPV are herein collectively referred to as the “Sona Funds”, and individually as “Sona Fund”.
The Credit Onshore Fund and the Credit Opportunities Onshore Fund’s “Limited Partners” and the Credit
Offshore Fund, the Credit Opportunities Offshore Fund’s, and the SPV’s “Shareholders” are hereafter
collectively referred to as the “Investors” where appropriate. Our investment decisions and advice with
respect to the Sona Funds are subject to the investment objectives and guidelines, as set forth in its
respective “Offering Documents.”
The Managed Account or the Paloma Fund, and the Sona Funds, are herein collectively referred to as the
“Clients”.
We do not currently participate in any Wrap Fee Programs.
As of December 31, 2023, the Firm had regulatory assets under management of approximately $ 1.4
billion, managed on a discretionary basis, for the Managed Account, with responsibility to make
recommendations as to specific securities and arranging or effecting their purchase and sale pursuant to
the Agreement; and $11.5 billion, managed on a discretionary basis, for the Sona Funds.