BEDFORD RIDGE CAPITAL other names

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Adviser Profile

As of Date:

03/30/2024

Adviser Type:

- Large advisory firm


Number of Employees:

4

of those in investment advisory functions:

2


Registration:

SEC, Approved, 9/15/2020

AUM:

801,455,313 9.89%

of that, discretionary:

454,833,339 0.12%

Private Fund GAV:

454,833,339 0.12%

Avg Account Size:

100,181,914 -3.85%


SMA’s:

NO

Private Funds:

7 1

Contact Info

847 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
2B 2B 1B 1B 769M 513M 256M
2020 2021 2022 2023

Recent News



Private Funds Structure

Fund Type Count GAV
Private Equity Fund 7 $454,833,339

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Private Funds



Employees




Brochure Summary

Overview

Bedford Ridge Capital LP (“BRC” or the “Firm”), is a Delaware limited partnership that was formed in 2020, with its principal place of business in New York, New York. Andrew Klaber serves as BRC’s President, Chief Executive Officer (“CEO”), Director, and Portfolio Manager, Michael Reidler serves as the Firm’s Chief Financial Officer (“CFO”) and Nicole De La Roca serves as the Firm’s Chief Compliance Officer (“CCO”). The Firm is controlled by its general partner, Bedford Ridge Capital Management LLC, a Delaware limited liability company, which is controlled by Andrew Klaber (the “Principal”). As of December 31, 2023, the Firm had approximately $801 million in regulatory assets under management (“RAUM”). Total RAUM reflects assets as of December 31, 2023, with the exception of the values reported for Bedford Ridge Investment Company V LP (“BRIC V”), which was launched in early 2024 and reflects assets as of January 31, 2024. Discretionary Non-Discretionary Total Total Regulatory Assets Under Management $ 454,833,339 $ 346,621,974 $ 801,455,313 Nature of Clients and Investors The Firm provides investment management services to pooled investment vehicles that are exempt from registration under the Investment Company Act of 1940 (“Company Act”), as amended, and whose securities are not registered under the Securities Act of 1933 (“Securities Act”), as amended (“private funds”). The Firm manages Paulson Investment Company I LP (“PIC I”), Paulson ESP Segregated Portfolio Company 2 (“SPC 2”), Bedford Ridge Investment Company II LP (“BRIC I”), Bedford Ridge Investment Company II LP (“BRIC II”), Bedford Ridge Investment Company III LP (“BRIC III”), Bedford Ridge Investment Company IV LP (“BRIC IV”), and BRIC V (collectively, the “Funds”). All assets for the Funds are managed on a discretionary basis. Bedford Ridge Capital GP LLC (“BRC GP”), an affiliate of BRC, serves as the general partner of PIC I, BRIC I, BRIC II, BRIC III, BRIC IV, and BRIC V (the “General Partner”) and as portfolio manager of SPC 2 (the “Portfolio Manager”). PIC I is a Cayman Islands exempt limited partnership while SPC 2 is a Cayman Islands exempted segregated portfolio company. BRIC I, BRIC II, BRIC III, BRIC IV, and BRIC V are all Delaware- registered limited partnerships. The Funds are not registered or required to be registered under the U.S. Investment Company Act of 1940 (the “Investment Company Act”) or the U.S. Securities Act of 1933 (the “Securities Act”) and are privately placed to qualified investors in the United States. See, also Item 7 below. In addition to the investment management services it provides to its Funds, BRC provides investment advisory services to a single institutional investor, organized as a Delaware limited partnership (the “Advisory Client”, together with the Funds, “Clients”). The Advisory Client is Bedford Ridge Capital LP 6 identified as a separately managed account in the Form ADV Part 1A The Firm may in the future serve as investment advisor for other private funds or advisory clients. BRC does not have a separate client relationship with investors in the Funds, which are referred to throughout this Brochure as “Investors”, “Limited Partners”, or “Shareholders”. Investors in the Funds generally include high net worth individuals, endowments, foundations, and family offices that are accredited investors and qualified clients. Until September 2020, PIC I and SPC 2 were managed by Paulson & Co. Inc. (the “Prior Manager”). The Prior Manager converted to a private
investment office and as such no longer manages third party capital. As part of a restructuring agreement, the Principal, a long-time partner at the Prior Manager, created both BRC and the General Partner/Portfolio Manager to fulfill the roles previously filled by the Prior Manager and its affiliated entities. The Prior Manager currently has no role in the investment management services provided to these funds. Investment Mandates The Funds are managed in accordance with the investment objectives, strategies and guidelines as set forth in each Fund’s confidential offering memorandum, organizational documents and other related documents (collectively “Governing Documents”). In all cases investments are selected on the basis of the Fund’s investment strategy and objectives. The Funds are not tailored to the individualized needs of any particular Investor, though the Funds may take into consideration the general characteristics (e.g., tax status) of its target Investors when structuring its operations. An investment in the Funds does not, in and of itself, create an advisory relationship between the Investor and BRC, and BRC typically does not enter into separate advisory arrangements with any Investor. Therefore, each Investor must consider for itself whether any private fund meets the Investor’s investment objectives and risk tolerance before investing in the Funds. Information about each Fund is set forth in its Governing Documents, which are available to current and eligible prospective investors only through BRC. BRC provides the Advisory Client with continuous monitoring and advisory services of certain publicly-traded and privately-held securities. These assets are managed on a non-discretionary basis and in accordance with an agreement between BRC and the Advisory Client. Side Letters BRC has entered and may enter in the future into arrangements (“Side Letters”) with certain prospective or existing Investors, in connection with the investor’s admission into a Fund, without the approval of any other investor. The arrangements have the effect of establishing rights under, or supplementing or modifying the terms of, the Governing Documents of the relevant Fund with respect to the investor, and typically include rights or terms necessary to address specific legal, regulatory, investment, or public policy restrictions of an investor. BRC may also enter into side letter agreements with Investors that may establish rights under, or alter or supplement the terms of, a Fund’s Governing Documents in a manner that may be more favorable to such investors than those applicable to other investors. For example, such terms and conditions may provide for special rights to make future investments in a Fund, other investment vehicles or managed accounts; a reduction or rebate in management fees or incentive allocations to be paid by the investor; and Bedford Ridge Capital LP 7 such other rights as may be negotiated by the Funds and such investors. The modifications are solely at the discretion of the Funds and may, among other things, be based on the size of the investor's investment in a Fund or affiliated investment entity, an agreement by an investor to maintain such investment in a Fund for a significant period of time or other similar commitment by an investor to a Fund or may be granted to founding or strategic investors. Subject to the terms of the relevant Fund’s Governing Documents, Investors may become beneficiaries of more favorable side letter terms granted to other Investors. All Side Letters must be approved by the Principal and CFO. The Principal and CFO are responsible for monitoring compliance with each side letter, with assistance from the CCO and/or outside counsel, as applicable. Bedford Ridge Capital LP 8