General
Mountain Point Credit Management LLC (“Mountain Point” or the “Firm”) was formed in February of
2024 and intends to commence operations soon after the date of this Brochure. Mountain Point focuses
its investment advisory services on the management of U.S. senior secured bank loans and related
investments. Initially, Mountain Point expects to provide discretionary investment advisory services to a
privately offered pooled investment vehicle. Thereafter, the clients to whom Mountain Point expects to
provide investment advisory services may include (1) additional privately offered pooled investment
vehicles and their subsidiaries (“Private Funds”), and (2) separately managed accounts (collectively, the
“Accounts”). Mountain Point may provide both discretionary and non-discretionary investment advisory
services to Accounts.
The Accounts to which Mountain Point intends to provide investment advisory services are expected to
invest primarily in U.S. senior secured bank loans. Mountain Point expects to employ leverage in
connection with its management of such Accounts. While Mountain Point does not currently expect to do
so, depending on an Account’s particular investment mandate, Mountain Point may also provide investment
advisory services with respect to other types of securities and investments. Mountain Point’s investment
strategies are described further under “Item 8 – Methods of Analysis, Investment Strategies and Risk of
Loss”.
Mountain Point’s Ownership
MPCK Holdings LLC (“MP Holdings”) is currently the sole member of the Firm. MP Holdings is
principally owned by Eagle Point Holdings LP (“EP Holdings”), which in turn is majority owned by certain
of the “Trident Funds” (including certain affiliates, collectively, the “Trident Funds”), which are a series
of private equity funds managed by Stone Point Capital LLC (“Stone Point”), an SEC-registered investment
adviser. The Trident Funds indirectly hold interests in Mountain Point through EP Holdings and various
intermediary holding companies. The Trident Funds and Stone Point are described further under “Item 10
– Other Financial Industry Activities and Affiliations.”
Advisory Agreements and Private Funds
Mountain Point will generally enter into a separate investment advisory agreement with each Account that
it manages and each such Account will be managed in accordance with the investment objectives,
strategies, restrictions and guidelines communicated to Mountain Point by the applicable client, as such
terms are set forth in the applicable agreement or other governing document. In this respect, each Private
Fund will be managed by Mountain Point in accordance with the investment objectives, strategies,
restrictions and guidelines set forth in the Private Fund’s Governing Documents. As such, because
Mountain Point will only provide investment advice to a Private Fund in accordance with the Private Fund’s
Governing Documents, Mountain Point will not provide individualized advice to the investors in such
Private Fund (and an investment in a Private Fund does not, in and of itself, create an advisory relationship
between the investor and Mountain Point, although Mountain Point may enter into separate advisory
arrangements with any such investor pursuant to a separately executed investment advisory agreement).
Therefore, each investor must consider for itself whether a Private Fund meets the investor’s investment
objectives and risk tolerance before investing.
Variation of Investment Terms
Mountain Point (or an affiliate) is not restricted from entering into separate agreements, commonly referred
to as “side letters,” or other similar agreements with one or more different investors in a Private Fund in
connection with such persons’ investment in the Private Fund (or otherwise) without the approval of any
other investor therein. These agreements could have the effect of establishing rights under, or
supplementing the terms of, a Private Fund’s Governing Documents with respect to that investor in a
manner more favorable than those applicable to other investors. The rights or terms in any such side letter
or other similar agreement may include, without limitation (1) reporting obligations of the General Partner
and other information concerning the applicable Private Fund, (2) waiver of certain confidentiality
obligations, (3) reduction of fees applicable to such investor and/or performance allocations made with
respect to such investor, (4) waiver of certain restrictions on the ability of the investor to withdraw all or
part of its investment, (5) consent of the General Partner to certain transfers by the investors, or (6) rights
or terms necessary in light of particular legal, regulatory or public policy characteristics of an investor.
Certain investors that may have the benefits of a “most favored nation” provision are given the opportunity
to elect the rights and terms in any side letter or other similar agreement that are applicable to other
investors. As a result, some investors may have more favorable investment terms, including those relating
to information and liquidity, than others. If Mountain Point were to grant increased liquidity to an investor,
particularly where such an agreement is accompanied by enhanced information about a Private Fund’s
operations or investments (often referred to as “transparency rights”), other investors may be
disadvantaged.
Mountain Point, in its sole discretion, may offer more favorable terms (e.g., lower investment minimums,
reduced or eliminated fees) to its personnel, related persons or others, including with respect to dedicated
vehicles that invest in or alongside a Private Fund.
Management of Client Assets
Because Mountain Point is recently formed and has not commenced investment advisory operations as of
the date of this Brochure, Mountain Point does not current have any client assets under management.
About this Brochure
Mountain Point intends to provide this Brochure to current or certain prospective clients of Mountain
Point. Mountain Point may also provide this Brochure to current or certain prospective investors in a Private
Fund, together with a Private Fund’s offering memorandum, constitutive documents and other related
documents (collectively, “Governing Documents”), prior to or in connection with such person’s
consideration or execution of an investment in a Private Fund.
Investors and other recipients should be aware that while the Brochure may include information about
specific investment vehicles advised by Mountain Point, the Brochure should not be considered to represent
a complete discussion of the features, risks or conflicts associated with any particular vehicle. More
complete information about a Private Fund will be included in such Private Fund’s Governing Documents,
which may be provided to current and eligible prospective investors only by Mountain Point or another
authorized party.
In no event should this Brochure be considered to be an offer of interests in any Private Fund or
otherwise relied upon in determining to invest in any security. It is also not an offer of, or agreement
to provide, advisory services directly to any recipient.
Rather, this Brochure is designed to provide information about Mountain Point for the purpose of
compliance with Mountain Point’s obligations under the U.S. Investment Advisers Act of 1940, as
amended (the “Advisers Act”). Accordingly, the Brochure responds to relevant regulatory requirements
under the Advisers Act, which may differ from the information provided in a Private Fund’s Governing
Documents. To the extent that there is any conflict between discussions herein and similar or related
discussions in any Governing Document, the Governing Document shall govern.
Mountain Point does not intend to participate in a Wrap Fee Program.