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Adviser Profile

As of Date 09/27/2024
Adviser Type - Large advisory firm
Number of Employees 5 25.00%
of those in investment advisory functions 3 -25.00%
Registration SEC, 120-Day Approval, 12/15/2022
Other registrations (1)
AUM* 440,900,000 127.15%
of that, discretionary 440,900,000 127.15%
Private Fund GAV* 126,376,000 98.39%
Avg Account Size 88,180,000 127.15%
SMA’s No
Private Funds 1
Contact Info 212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

Recent News

Reported AUM

Discretionary
Non-discretionary
194M 166M 139M 111M 83M 55M 28M
2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count1 GAV$126,376,000

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Brochure Summary

Overview

StemPoint Capital LP (“StemPoint Capital” or the “Firm”), a Delaware limited partnership, was formed by Managing Partners Michelle Ross (the “Key Person”) and Sean Tan. StemPoint Capital is located in New York, New York. The Firm commenced operations as an investment adviser on January 1, 2023. StemPoint Capital LP is an investment management firm that operates as a private investment manager that provides advisory services to high-net-worth individuals and institutional investors through privately-offered, pooled investment vehicles or through separately managed account agreements discussed below. StemPoint Capital Fund LP, a Delaware limited partnership (the “Domestic Feeder”) and StemPoint Capital Offshore Fund Ltd, a Cayman Island limited company (the “Offshore Feeder” and together with the Domestic Feeder, the “Feeder Funds”) are organized as part of a “master-feeder” structure and invest substantially all of their investable assets in StemPoint Capital Master Fund LP, a Cayman Islands exempted limited partnership (the “Master Fund”). The general partner of the Domestic Feeder and the Master Fund is StemPoint Capital GP LLC, a Delaware limited liability company (the “General Partner”). The General Partner has delegated to StemPoint Capital responsibility for managing the assets of the Domestic Feeder Fund and the Master Fund. Michelle Ross founded and controls both StemPoint Capital and the General Partner and serves as the Chief Investment Officer of StemPoint Capital. The General Partner is subject to the Advisers Act pursuant to StemPoint Capital’s investment adviser registration in accordance with SEC guidance. This brochure also describes the business practices of the General Partner, which operates as a single advisory business together with StemPoint Capital. The Master Fund’s investment objective is to earn an attractive return on capital by pursuing a long/short equity investment strategy. The Master Fund will focus on the healthcare sector, which includes pharmaceuticals, biotechnology and life sciences, and other related sub-sectors. Typically, the Master Fund’s overall portfolio will be long-biased. The Master Fund invests in equity securities (including equity-linked or index-linked derivatives) but may also invest in a broad range of financial instruments, including exchange traded and over-the-counter equity securities, bonds, convertible bonds, preferred stocks, warrants, bank debt and credit default swaps. Further, the Master Fund may invest in securities on both the secondary and new issue markets. The Firm tailors its advisory services to each Fund it manages in accordance with the terms of the relevant offering memorandum or mandate for such Fund, as applicable. Investors in the Funds generally cannot obtain services tailored to their individual specific needs. StemPoint Capital does not participate in, nor does it sponsor, wrap fee programs. A-5 Strategic Investor StemPoint Capital, the General Partner and the Key Person have entered into agreements (collectively, the “Strategic Agreements”) with a significant initial investor (the “Strategic Investor”) in connection with the Strategic Investor investing in a separately managed account managed by StemPoint Capital (“Strategic Investor SMA”), which invests on a pari passu basis with the investments of the Master Fund, subject to certain investment restrictions of the Strategic Investor, in return for management and incentive fees. Under the Strategic Agreements, the Strategic Investor is entitled to more favorable information rights in respect of the Master Fund’s
portfolios, “most favored nations” rights and certain other rights that differ materially from those available to investors in the Feeder Funds. The Strategic Agreements also grant an affiliate of the Strategic Investor the right, subject to certain conditions, to receive a portion of the gross operating revenue of StemPoint Capital and its affiliates attributable to any investment fund, managed account or other investment product or service established, managed or provided by StemPoint Capital or its affiliates. The Strategic Agreements grant such affiliate of the Strategic Investor certain approval or consent rights with respect to StemPoint Capital, the General Partner, the Feeder Funds and the Master Fund, and as a result, StemPoint Capital and the General Partner may be unable to take certain actions, including with respect to the Feeder Funds and the Master Fund, that they otherwise would pursue in the absence of the aforementioned approval or consent rights. StemPoint Capital has also entered into (i) a placement agreement with an affiliate of the Strategic Investor pursuant to which the affiliate will identify and introduce potential investors to the Feeder Funds at no additional cost other than expense reimbursements to be paid jointly and severally by StemPoint Capital, the Feeder Funds and the Feeder Funds’ general partners as well as certain indemnification rights, (ii) a service agreement with an affiliate of the Strategic Investor pursuant to which the affiliate provides facilities services in return for a fixed rent paid by StemPoint Capital, (iii) an outsourced trading services agreement with an affiliate of the Strategic Investor pursuant to which StemPoint Capital maintains an executing broker arrangement with the affiliate in exchange for commissions and other transaction costs, (iv) a client commission agreement with an affiliate of the Strategic Investor pursuant to which StemPoint Capital may accumulate commission credits, which could be used to make payments to third parties from which StemPoint Capital receives services or products or soft dollar benefits and (v) a capital introduction services program through which an affiliate of the Strategic Investor introduces StemPoint Capital to potential investors without charging a separate fee. The Strategic Investor is not affiliated with StemPoint Capital, the General Partner or their respective affiliates. The Strategic Investor is not a sponsor of the Master Fund or the Feeder Funds. The Strategic Investor will not have any responsibilities with respect to StemPoint Capital, the General Partner or their respective affiliates or with respect to the Master Fund or the Feeder Funds and will not exercise any control over A-6 the day-to-day investment decisions of such Funds. The Strategic Investor owes no duty to the Master Fund or the Feeder Funds or their investors and may act solely in its own interest in exercising its rights with respect to its investments and the agreements referenced above (including the Strategic Agreements). In addition to the Strategic Investor SMA, StemPoint Capital has also entered into an investment sub-advisory agreement with a third-party manager (the “Sub-Advisory Agreement”), under which StemPoint Capital provides discretionary investment advisory services to a segregated portfolio company of one of the third-party manager’s private investment funds (the “Segregated Portfolio”) in accordance with the investment strategy selected by the third-party manager. As of December 31, 2023, StemPoint Capital had approximately $440 million in regulatory assets under management.