BroadRiver is a Delaware limited partnership that provides discretionary investment management services
to private funds. Our predecessor, BroadRiver Asset Management, LLC, was formed on August 12, 2009
and registered as an investment adviser on January 4, 2011. BroadRiver succeeded to the interests of its
predecessor on February 28, 2011, by conversion of the predecessor from a Delaware limited liability
company to a Delaware limited partnership. The principal owners of BroadRiver are Andrew Plevin and
Philip Siller, who are also co-CEOs of BroadRiver and the members of its Investment Committee (the
“Principals”). There are no publicly held intermediate subsidiaries.
BroadRiver’s registration on Form ADV also covers BroadRiver 2014, L.P, BroadRiver 2015, L.P.,
Diamond LS GP LP, BroadRiver 2017 LP and BroadRiver 2021 LP (the “Longevity GPs”), BroadRiver
LSC 2021 LP (the “Credit GP”) and BroadRiver LF 2019 LP (the “Litigation GP,” and collectively with
the Longevity GPs and the Credit GP, the “Fund GPs”) which serve as the general partners to the private
funds managed by BroadRiver. In the first quarter of 2023, BroadRiver’s former relying adviser, Nomos
Capital Corp. (“Nomos”), a Canadian corporation formed in 2019, ceased to be controlled by the
Principals. As a result, Nomos is no longer a relying adviser of BroadRiver but continues to provide sub-
advisory services to the Litigation Fund (as defined below). The Principals retain a passive, non-voting
majority economic interest in Nomos.
BroadRiver specializes in the management of uncorrelated alternative investments, including private
credit and other assets that provide risk-adjusted returns. Our investments cover a range of durations and
include longevity risk and other private credit. BroadRiver offers these investments through private funds,
managed accounts and structures accommodating investors seeking tax efficiency. BroadRiver does not
invest in traditional equity or fixed income securities. This Brochure generally includes information about
BroadRiver and its relationships with its clients. While much of this Brochure applies to all such clients,
certain information included herein applies to specific clients only.
BroadRiver currently manages BroadRiver II-A, L.P., BroadRiver II, L.P., Diamond LS I LP, BroadRiver
III, L.P., BroadRiver IV LP and a related co-investment vehicle, each of which are Delaware limited
partnerships that invest in longevity risk and, in particular, life settlements underwritten by major US life
insurance carriers (the “Longevity Funds”). BroadRiver has launched BroadRiver Life Settlements Credit
Fund I LP that invests in senior debt positions secured by life settlement assets (the “Credit Fund”) and
BroadRiver Litigation Finance I LP (the “Litigation Fund” and together with the Longevity Funds and the
Credit Fund, the “Funds”, and each “Fund”) which invests in litigation finance investments primarily in
Canada. In the future, BroadRiver may manage private funds that may have different investment
strategies relating to longevity
risk or other private credit or that may invest in other classes of uncorrelated
assets. BroadRiver does not currently advise any managed accounts.
The Funds generally are closed-end but may also be open-end depending on the types of investments to
be made. Closed-end funds have pre-determined offering periods, investment periods and terms and no
provision for redemptions. Open-end funds accept subscriptions and permit redemptions at regular
intervals and have no specific term. The Funds currently are all closed-end.
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The investment strategy and other material terms of each Fund are set out in each Fund’s governing
partnership agreement and that of any managed account would be set out in the account’s investment
management agreement. The mandate for each managed account would be negotiated with the client and
would include any restrictions required by the client. Accordingly, a managed account may be subject to
different terms and may pursue a different strategy than the Funds.
The descriptions set forth in this Brochure of specific advisory services that BroadRiver offers to its
clients, and investment strategies pursued and investments made by BroadRiver on behalf of its clients,
should not be understood to limit in any way its investment activities. BroadRiver may offer any advisory
services, engage in any investment strategy and make any investment, including any not described in this
Brochure, that it considers appropriate, subject to each client’s investment objectives and guidelines or
the terms of the applicable Fund governing documents. BroadRiver does not otherwise tailor its
investment advice in respect of the Funds to the individual needs of investors in the Funds. The investment
strategies BroadRiver pursues are speculative and entail substantial risks. Clients should be prepared to
bear a substantial loss of capital. There can be no assurance that the investment objectives of any client
will be achieved.
Additionally, from time to time and as permitted by the relevant Fund governing documents, BroadRiver
provides (or agrees to provide) co-investment opportunities (including the opportunity to participate in
co-invest vehicles) to certain Fund investors or third parties subject to certain terms (including the
payment of carried interest and management fees) imposed by BroadRiver and its affiliates. Generally,
co-investment opportunities in the same investments as those in which a Fund invests shall be at a price
not less than that paid by the applicable fund and otherwise on terms equivalent to those of that fund.
Participation by a Fund investor in a co-investment opportunity will be the sole responsibility of the
investor.
BroadRiver had $ 1,611,491,060 of regulatory assets under management on a discretionary basis as of
December 31, 2022. BroadRiver does not manage assets on a non-discretionary basis.
BroadRiver does not participate in wrap fee programs.
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