Overview
A. Description of the Advisory Firm
Santiago Capital, LLC, a Delaware limited liability company formed in November of 2011,
provides investment advisory services to Private Funds (as defined below) and separately
managed accounts. Brent Johnson is the principal owner and managing member of Santiago.
B. Types of Advisory Services
Santiago serves as general partner and investment adviser to multiple private investment
funds (the “Private Funds”), which are listed in our Form ADV Part 1, and separately managed
accounts (“SMAs”) managed by Santiago.
Pursuant to certain Private Funds’ offering memoranda, limited partnership agreement,
memoranda and articles of association and subscription documents (“Offering Documents”),
the investment objectives are to generate capital appreciation by investing across the fixed
income, currency, commodity, and equity markets. With respect to certain other Private
Funds, the investment objective is to generate capital appreciation by providing investors
with
the exposure to the knock-on effects of an appreciating US Dollar.
Certain Private Funds are offering limited partnership interests, whereas certain other
Private Funds are offering participating shares (collectively the “Interests”) to certain
qualified investors as described in response to Item 7, below (such investors or prospective
limited partners are referred to herein as “Investors”).
C. Tailored Services and Imposed Restrictions
Advisory services are tailored to achieve Private Fund and SMA investment objectives.
Generally, Santiago has the discretionary authority to select which and how many securities
and other instruments to buy or sell without consultation with the Private Fund, SMA or their
Investors.
D. Wrap Fee Programs
Santiago does not participate in wrap fee programs.
E. Assets under Management
Santiago has the following assets under management:
Discretionary Amounts: Non-Discretionary Amounts: Date Calculated:
$166,006,700 $0 December 31, 2023