A. Advisory Firm
B. Riley Capital Management, LLC (“BRCM”), a New York Limited Liability Company, is a wholly-owned
subsidiary of B. Riley Financial, Inc., (“BRF”) a publicly traded Delaware corporation (NASDAQ: RILY). BRCM’s
principal office is located at 11100 Santa Monica Boulevard, Suite 800, Los Angeles, California 90025.
B. Investment Advisory Services
BRCM provides investment advisory services to pooled investment vehicles operating as private investment funds
(“Funds” or “Clients”).
C. Personalized Investment Advice
BRCM intends to manage each Fund pursuant to the investment strategy described in the confidential offering
memorandum and governing documents of the Fund (the “Offering Documents”). Prospective investors in a Fund
should carefully read the Fund’s Offering Documents and consult with their own counsel and advisers as to all
matters concerning an investment in the Fund. As managing member of the general partner of a Fund, BRCM will
have the power and authority to manage the day-to-day, administrative, business and investment affairs of the Fund.
One or more of the Funds may be structured as a “fund of hedge funds” (each, a “FOHF”). As managing member of
the general partner of a FOHF and pursuant to the authority granted to BRCM in the limited partnership agreement
or limited liability company agreement (“LPA”) of the FOHF, BRCM will select, on a discretionary
basis, various
other private investment fund managers or pooled investment vehicles, including without limitation, hedge funds
(collectively, the “Portfolio Funds”), into which BRCM will invest the FOHF’s capital. BRCM will seek to
diversify the FOHF’s capital investments by allocating capital to selected Portfolio Fund managers (“Portfolio Fund
Managers”) that employ various investment strategies, including but not limited to convertible arbitrage, merger
arbitrage, capital structure arbitrage, equity long/short, long biased, equity market neutral, short biased, distressed,
global macro, managed futures, and master limited partnerships. To the extent that FOHF assets are not allocated to
Portfolio Funds, the FOHF may make direct investments in U.S. government obligations, money market accounts
and/or other short-term debt securities.
Although BRCM will not typically provide tailored investment advisory services to the individual investors in a
Fund, the general partner of a Fund may enter into side letter agreements with certain investors which may modify
certain terms applicable to such investors’ as well as such investors’ rights or obligations under the Fund’s LPA.
Investors in a Fund may not impose restrictions on investing in certain securities or types of securities.
D. Assets Under Management
As of December 31, 2023, BRCM managed approximately $200,431,932 all on a discretionary basis.