RRA Investment Management, LLC (“RRA” or the “Adviser”) was founded in 2013. RRA is
wholly owned by KCS Holding Company, LLC. KCS Holding Company, LLC is owned
principally by RRA’s three principals: Charles Dunlap through Kentfield Holdings, LLC,
John Dunlap through Chosin Holdings, LLC, and Marc Grayson through Solano Holdings,
LLC.
RRA provides investment advisory services to pooled investment vehicles (each, a
“Partnership” and collectively, “Partnerships”) that are not registered under the
Investment Company Act of 1940 and whose securities are not registered under the
Securities Act of 1933. The Partnerships primarily acquire and/or originate short-term,
senior and second position loans and preferred equity investments on middle-market
real estate assets throughout the United States.
RRA provides advisory services to the Partnerships on a discretionary basis according to
the objectives and investment policies described in each Partnership’s respective
offering and/or operational documents (“Offering Documents”) provided to each
Investor in the Partnership (“Investor”). RRA, along with each Partnership’s general
partner and affiliates (as described in Item 10 of this Brochure), identifies investment
opportunities for, and participates in the origination, asset management, loan servicing,
disposition of investments of, each Partnership. Except as described in certain side
letters, RRA does not tailor its advisory services to
the individual needs of Investors, and
Investors may not impose restrictions on investing in certain securities or types of
investments.
RRA currently provides investment advisory services to the following Partnerships: RRA
Real Estate Debt Fund II, L.P. (the “Real Estate Debt Fund II”) and RRA Real Estate Debt
Fund III, L.P. (the “Real Estate Debt Fund III”). The general partners of the Partnerships
are RRA Real Estate Debt Fund II GP, LLC and RRA Real Estate Debt Fund III GP, LLC
(herein the “General Partner(s)”, respectively), each Delaware limited liability companies.
The Partnerships will invest in a subsidiary entity (the “REIT Subsidiary”) that qualifies as
a real estate investment trust (“REIT”) for federal income tax purposes.
In addition to entering into sourcing and servicing agreements with the Partnerships,
RRA and its affiliates also enter into sourcing and servicing agreements with insurance
companies and asset manager clients to originate and service commercial real estate
loans on a non-discretionary, non-advisory basis (herein, “Sourcing and Servicing
Clients”). The target loan type and risk profiles identified for each of the Sourcing and
Servicing Clients are distinct. The Adviser maintains investment allocation policies and
procedures to ensure all investment opportunities are allocated in a fair and equitable
manner.
As of December 31, 2023, RRA managed approximately $432,818,873 in client assets, all
on a discretionary basis.