Overview
Lapis Advisers, LP has been an Investment Adviser to clients since 2010. Kjerstin Hatch, MCM
Advisers, LP, and Barbara Terrell are the principal owners owning 75%, 12.5%, and 12.5%,
respectively, of Lapis Advisers, LP.
Lapis Advisers, LP’s advice is furnished on appropriate investments for limited
partnerships, investing in real estate investment trust, distressed trade claims, municipal
bonds, corporate bonds, bank debt, equity securities and other illiquid securities and
investments. The adviser, through in-house and outside independent contractors’ research
and property inspections, generates research reports and financial models. Compensation
is set by negotiations and written contacts with investment
funds. With investors who are
qualified to pay performance-based fees under the Investment Advisers Act of 1940,
performance fees may be charged. Fees are negotiable. Clients are not requested to pay
before work is done. Agreements cannot be terminated except pursuant to contractual
buy-out provisions. The client should be aware that comparable investment advisory
services may be available for lower fees from other sources. Some fees are payable
quarterly for services rendered during the following quarter.
As of December 31, 2023, Lapis Advisers, LP managed seven clients on a discretionary basis
with a total of $1,023,619,375 in assets and does not manage any clients on a non-
discretionary basis.