9AT: SARAZA MANAGEMENT LP

other names

SARAZA MANAGEMENT LP
LTS ONE MANAGEMENT LP

Adviser Profile

As of Date	06/30/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	8 14%
of those in investment advisory functions	5 25%
Registration	SEC, Approved, 06/17/2022

AUM^*	547,438,291 -21%
of that, discretionary	547,438,291 -21%
Private Fund GAV^*	547,438,291
Avg Account Size	136,859,573 -21%
SMA’s	No
Private Funds	4
Contact Info	646 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$547,438,291

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser HOLDCO ASSET MANAGEMENT, LP	Hedge Fund2.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.4b	AUM2.4b	#Funds6
Adviser SCP INVESTMENT, LP	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM1.2b	#Funds15
Adviser CEDERBERG CAPITAL LIMITED	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM772.8m	#Funds5
Adviser EASTERLY INVESTMENT PARTNERS LLC	Hedge Fund54.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV54.2m	AUM3.1b	#Funds1
Adviser NZS CAPITAL LLC	Hedge Fund184.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund24.5m	Total Private Fund GAV208.8m	AUM2.9b	#Funds3
Adviser BELSTAR MANAGEMENT COMPANY, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM649.4m	#Funds-
Adviser THIRD AVENUE MANAGEMENT LLC	Hedge Fund18.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV18.6m	AUM1.4b	#Funds1
Adviser CASTLE CREEK STRATEGIES, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.4b	#Funds-
Adviser NARWHAL CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM2.1b	#Funds-
Adviser GLOBAL CREDIT ADVISERS, LLC	Hedge Fund741.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV741.4m	AUM840.0m	#Funds6

Brochure Summary

Overview

LTS One Management LP (hereinafter “LTS”, “we”, “us”, “our” or the “Firm”) is organized as a Delaware limited partnership with a principal place of business New York, New York, which was formed in June 2021. We are principally owned and controlled by Munib Z. Islam, our Managing Partner (the “Principal”). LTS will provide discretionary investment management services to qualified investors through its private funds. We serve as the investment adviser, with discretionary trading authority, to private, pooled investment vehicles. We do not tailor our advisory services to the individual needs of any particular investor. Following registration with the SEC, LTS manages the following private, pooled investment vehicle:  LTS One Fund LP, a Delaware limited partnership (the “Onshore Fund”)  LTS One Saraza Master Fund LP, a Cayman Island limited partnership (the “Master Fund”)  LTS One Saraza Onshore Fund LP, a Delaware limited partnership (the “Onshore Feeder”)  LTS One Saraza

Master Fund LP, a Cayman Island limited partnership (the “Offshore Feeder”) The Onshore Fund, Master Fund, Onshore Feeder and Offshore Feeder are herein referred to as a “Funds” or “Clients”. We may also provide investment advice to additional private funds and separately managed accounts for institutional, non-retail investors (“SMAs”) in the future. References throughout this document to “clients” refer to the Funds and any other private funds and SMAs that we may advise in the future. The Funds’ “Limited Partners” are hereafter referred to as the “Investors” where appropriate. Our investment decisions and advice with respect to the Funds are subject to each Fund’s investment objectives and guidelines, as set forth in its respective “Offering Documents.” We do not currently participate in any Wrap Fee Programs. As of December 31, 2023, we managed $693,048,334 of regulatory assets under management on a discretionary basis. We do not expect to manage any assets on a non-discretionary basis.

SARAZA MANAGEMENT LP

Adviser Profile

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