III Capital Management (“III” or the “Advisor”), currently advises private investment funds (the “Funds”)
that are offered to institutional investors and high net worth, financially sophisticated individuals. III also
advises certain managed accounts (“Managed Accounts”) and dedicated (i.e., single investor) funds
(“SIFs”) for certain large, sophisticated institutional investors. Collectively, the Funds and III’s other
advisory clients are referred to herein as III’s “Clients,” where appropriate. III operates in compliance with
the Investment Advisers Act of 1940 (the “Advisers Act”) and the rules thereunder.
III was formed on June 30, 1993 as a Nevada general partnership. The principals of III are: Robert Printz,
Lester Coyle, Scott Wyler, Thomas Olofsson, Jason Prest, Karen Hansen, Christian Pellegrino, and Yelena
Anuar. III (and its predecessor entities) has been managing client and proprietary capital since 1982.
III has been registered with the SEC as a Registered Investment Adviser since August 28, 2001.
III invests Client capital across four general strategy groups: fixed income/rates strategies (“Rates”),
asymmetric or convexity strategies (“Convexity”), long-only credit (“Long-Only Credit”) and long/short or
relative value credit (“Long/Short Credit”). Many III-advised Funds are multi-strategy funds that invest
in
two or more of these strategy groups. Within these strategy areas, III manages portfolios with specific
focus areas, such as government relative value strategies (“GRV”) within Rates, or convertible bond
arbitrage (“Convert Arb”) and equity market neutral (“Equity”) strategies within Long/Short Credit. Rates
strategies were the original foundation of III’s advisory business, and the Advisor has been continuously
managing Rates portfolios since its inception in 1982.
III does not participate in or sponsor any wrap fee programs.
All discussions of the Funds in this brochure, including but not limited to their investments, the
strategies used in managing the Funds, the fees and other costs associated with an investment in the
Funds, and conflicts of interest faced by III and its affiliates in connection with management of the
Funds, are qualified in their entirety by reference to each Fund’s respective confidential offering
memorandum (if any) and governing documents (referred to collectively as the “Offering Documents”).
Assets Under Management
As of December 31, 2023, III managed the following client assets:
Client Assets Under Management
Discretionary $5,118,984,532
Non-Discretionary $0.00
Total $5,118,984,532
Amounts are in U.S. dollars.