(A) Operational and Organizational Information: GFO Asset
Management, LLC (the “Firm”) is an investment adviser registered with
the U.S. Securities and Exchange Commission (the “SEC”). As stated
on the cover page of this Brochure, registration as an investment adviser
does not imply a level of skill or training. The Firm was formed in
November 2019. The principal owner of the Firm is Casey Gard (99%)
(the “Managing Member”).
(B) Types of Advisory Services Offered: The Firm provides investment
management services, on a discretionary basis, to SMA clients and to
pooled investment vehicles operating as private funds (the “Funds”) for
sophisticated, qualified investors, including high net worth individuals,
retirement plans, trusts, partnerships, corporations, or other businesses
(each Fund and SMA Client, the “Client” and, collectively, the “Clients”
and “client accounts”).
The Firm’s principal investment objective is to produce attractive
returns by investing primarily in litigation finance fundings, which may
take the form of various funding agreements and other instruments
related to investments in litigation cases, both non-recourse and
recourse, and may be originated by the Firm or acquired on the
secondary market (collectively, the “Fundings”).
The Firm may enter into side letters or other similar agreements with
investors. These side letters or other similar agreements may have the
effect of establishing rights under, supplementing, or altering a Client’s
partnership agreement or an investor’s subscription agreement. Such
rights or alterations could be regarding
economic terms, fee structures,
excuse rights, information rights, investment limitations, co-investment
rights (including the provision of stated co-investment opportunities or
priority allocation rights to, for example, limited partners who have
capital commitments in excess of certain thresholds to one or more
Clients), or transfer rights, among others. For the most part, any rights
established or any terms altered or supplemented will govern only the
investment of the specific investor and not the terms of a Fund as whole.
Certain sizeable investors with “most favored nations” rights, pursuant
to a Fund’s limited partnership agreement, may elect certain additional
rights but not all rights, terms, or conditions.
(C) Client Investment Guidelines and Parameters: In certain instances,
upon client request, the Firm may tailor its advisory services to the
individual needs of the Client. Clients may also request to impose
restrictions on investing in certain opportunities by specifying such
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restrictions in writing to the Firm prior to the execution of such Client’s
investment management agreement (the “IMA”). Each Client’s IMA
includes investment guidelines and parameters that provide the context
within which the Firm renders its investment advisory services.
(D) Wrap Fee Programs: The Firm does not participate in wrap fee
programs.
(E) Client Assets Under Management: (rounded to the nearest $100,000)
(i) Discretionary: $456,700,000 as of December 31, 2023.
(ii) Non-discretionary: $0 as of December 31, 2023.