Cyrus Capital Partners, L.P. is a successor firm to Och-Ziff Freidheim, which Stephen C.
Freidheim, Daniel Och and the Ziff family founded in 1999. Effective January 1, 2005,
Stephen C. Freidheim and some of his partners assumed all of the controlling interests of
Och-Ziff Freidheim and changed our firm’s name to Cyrus Capital Partners, L.P. Cyrus
Capital Partners, L.P. provides investment advisory services to pooled and single-investor
investment vehicles. We typically offer the opportunity to invest in our clients to high net
worth, financially sophisticated individuals and institutional investors. The principal
owner of Cyrus Capital Partners, L.P. is Stephen C. Freidheim. In addition, Stephen C.
Freidheim, James H. Tucker and Daniel J. Bordessa sit on the board of managers of the
general partner of Cyrus Capital Partners, L.P., Cyrus Capital Partners GP, LLC. While
Mr. Freidheim generally controls and oversees all trading operations at our firm, our Head
Trader, Robert Lentini, has authority to initiate preliminary positions in investments for
purposes of market testing without the approval of Mr. Freidheim and Mr. Farrell, the main
portfolio manager for the Artystone Fund complex through his role at Cyrus Capital
Partners Europe L.L.P. has this same authority with respect to the Artystone Fund complex.
In addition, Cyrus Capital Partners, L.P. has an advisory board that meets with Mr.
Freidheim at certain set times throughout the year. The board consists of two outside
members. One of the board members is a respected prominent figure in the investment
industry and is also representatives from one of our larger clients and the second board
member is a respected prominent figure in geopolitics. The advisory board meets with Mr.
Freidheim to discuss overarching topics about running an investment advisory business
and provides high-level guidance on matters affecting Cyrus Capital Partners, L.P. as a
management company. The advisory board does not advise on specific investments or our
firm’s investment decision-making process. Cyrus Capital Partners, L.P. pays each
member of the advisory board a fixed quarterly advisory fee. After each meeting, Mr.
Freidheim, along with certain members of the Firm and members of the advisory board
also normally go to dinner together to continue their discussions of geo- political and
economic events. The advisory board members have agreed to keep confidential
any
information they learn while serving on the advisory board. In addition, Mr. Freidheim
does not share material non-public information in our firm’s possession about our clients’
investments or potential investments with the members of the advisory board.
An affiliate of ours, Cyrus Capital Partners Limited (which is ultimately owned by Mr.
Freidheim), along with Lucien E. Farrell, owns Cyrus Capital Partners Europe L.L.P., an
investment adviser that is based in the United Kingdom and serves as a sub-adviser to our
clients (and does not advise any other clients). Lucien E. Farrell is also the chief
investment officer of Cyrus Capital Partners Europe L.L.P. Unless we indicate otherwise,
all of the
information we provide in this brochure also applies to Cyrus Capital Partners Europe
L.L.P., which is our relying adviser.
Our firm provides discretionary investment advisory services to our clients. Our
investment strategies entail primarily investing across the capital structure of highly
levered and financially distressed companies. We seek attractive absolute and relative
returns that are not correlated to the general equity and fixed income markets, while also
focusing on preserving capital. Fundamental value and credit analysis combined with our
firm’s experience with event catalysts and processes specific to leveraged and financially
distressed companies drive our investment process.
Though our firm utilizes a similar strategy for most of our clients, we do occasionally tailor
our advisory services to certain of our clients for legal and tax purposes.
When accepting investors into our client funds, our firm offers investors in certain clients
the option of purchasing interests that only participate in returns from “socially
responsible” investments. “Socially responsible” investments are those investments which
favor corporate practices that are environmentally responsible, support consumer safety
and workplace diversity, and generally contribute to the enhancement of the quality of life
around the world. We may also attempt to accommodate investment- related requests in
certain single-investor client funds, provided that, in our opinion, these requests do not
unfairly advantage one client at the expense of any of our other clients.
Our firm does not participate in wrap fee programs.
As of January 31, 2024, our firm had discretion over $4,047,585,000 in regulatory assets
under management.