Overview
Baseline Partners LLC is a Delaware limited liability company that was founded in
November 2018. Baseline serves as investment manager to two private investment funds, Baseline
CRE Income Fund, LLC (“Baseline CRE”), a Delaware limited liability company, and Baseline
Credit Opportunity Fund, LLC (“Baseline Opportunity”), a Delaware limited liability company
(together the “Funds”). Unless otherwise described, references herein to the “Fund” or Funds”,
“Member” or “Members” or “Unit” or “Units” shall be used to reference both Baseline CRE and
Baseline Opportunity.
Baseline is a privately held investment adviser with headquarters in Mesa, Arizona
principally owned (indirectly) by Patrick R. Cardon.
Baseline provides discretionary investment management services to the Funds generally
designed to preserve and protect capital and to pay attractive and stable cash distributions by
investing in credit opportunities within the U.S. commercial real estate markets, which primarily
include first-lien and short-term loans collateralized by real property. For more information
regarding Baseline’s
investment strategies, please see Item 8 below. The limited liability company
interests in Baseline CRE and Baseline Opportunity are not and will not be registered under the
Securities Act of 1933, as amended (the “1933 Act”), or the securities laws of any state or any
other jurisdiction, nor is any such registration contemplated. In addition, the Funds are not and
will not be registered as investment companies under the Investment Company Act of 1940, as
amended (the “1940 Act”), in reliance on various exceptions under Section 3(c) thereof.
Baseline does not presently manage assets for any individual or separate account clients or
other investment vehicles (other than the Funds) and does not tailor its advisory services to
individual needs of other clients.
As of December 31, 2023, Baseline’s Regulatory Assets Under Management as defined in
the instructions to Form ADV Part I were $125,432,974, all managed on a discretionary basis.
For more information about the Funds, including applicable fees and other terms and
conditions of investment, please consult the Private Placement Memorandum for the applicable
Fund.