Overview
Bracebridge Capital, LLC (“Bracebridge” or the “Investment Manager”) is an investment adviser organized
as a Delaware limited liability company. Nancy Zimmerman and Gabriel Sunshine founded the business
in 1994 (under a former adviser entity that was replaced by Bracebridge in 1996) as a manager of absolute
return investment funds. Nancy Zimmerman and Gabriel Sunshine control Bracebridge Capital II, L.P. and
SVZ, L.P., the principal owners of Bracebridge.
Bracebridge provides investment advisory services to pooled investment vehicles that are exempt from
registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose securities
are not registered under the Securities Act of 1933, as amended (the “Securities Act”) (each, a “Fund” and
collectively, the “Funds”). As the investment adviser of the Funds, Bracebridge’s services consist of
identifying opportunities for acquisition and disposition of investments for the Funds.
Investment advice is
provided directly to the Funds and not individually to the limited partners or shareholders of the Funds.
Bracebridge manages each Fund consistent with the stated investment strategy of such Fund as described
in such Fund’s offering documents. Bracebridge provides services to the Funds in accordance with the
investment management agreements with the Funds and/or governing documents of the applicable Fund.
Bracebridge has discussions with investors from time to time at their request regarding their investment
activities, but the firm does not provide specifically tailored investment services to investors. From time to
time, consistent with relevant offering memoranda, Bracebridge pursues specialized investment strategies
on behalf of one or more funds or classes of interests.
As of December 31, 2023, Bracebridge’s regulatory assets under management were approximately
$65,099,820,270, all of which are managed on a discretionary basis.