Overview
Tyro Capital Management, LLC (“TCM”) is a Delaware limited liability company that has
been in the investment management business since 2015. TCM is owned by its three principals, Daniel HS
McMurtrie, David (Alex) Draime, and Louis A. Parks, who also serve as its executive officers.
TCM provides investment management services on a discretionary basis to two U.S.
privately offered investment funds sponsored by Tyro Partners, LLC (“Tyro Partners”), an affiliate of
TCM, as well as to an exempted company incorporated in the Cayman Islands serving as a feeder to one of
the U. S. funds (together, the “Funds”). TCM may in the future provide investment management services
to additional funds as well as to separately-managed accounts. Our investment objective in managing each
of the Funds is to preserve capital and produce long-term, risk-adjusted capital appreciation through the
Fund’s portfolio of long and short positions. We will apply a fundamental investment process to source,
analyze, select, and monitor investment opportunities and will focus on investments that we believe have
exposure to strong long-term secular trends or compelling valuation characteristics or both. The Funds will
generally invest in US-listed securities; however they have utilized a variety of investment products,
including foreign securities, in an attempt
to accomplish our investment objectives. Our Funds’ trading
strategies are described in their respective governing and offering documents.
As of December 31, 2023 TCM had approximately $169 million in net assets under
management, all managed on a discretionary basis.
TCM’s management of each Fund, and the terms of any investor’s investment in a Fund,
are governed exclusively by the terms of that Fund’s organizational documents, private offering
memorandum, limited partnership agreement or memorandum and articles of association, investment
management agreement, and subscription agreement (the “governing documents”). Such governing
documents describe how our trading strategies, and any restrictions, are implemented for a particular Fund.
See Items 5 and 6 below for a description of the fees and other compensation paid by the Funds and their
individual investors.
All discussions in this brochure of the Funds, their investments, the strategies TCM
uses in managing the Funds, and the fees associated with an investment in the Funds are qualified in
their entirety by reference to the Funds’ governing documents. This brochure and the material it
contains are not meant to be, nor should they be construed as, an offer or solicitation of an offer for
the purchase or sale of an interest in any of the Funds.