9AT: 400 CAPITAL MANAGEMENT LLC

other names

400 CAPITAL MANAGEMENT LLC
400 CAPITAL GP LLC - RELYING ADVISER
400 CAPITAL MANAGEMENT EUROPE LIMITED (RELYING ADVISER)

Adviser Profile

As of Date	03/31/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	69 6%
of those in investment advisory functions	26
Registration	SEC, Approved, 03/27/2012

AUM^*	10,358,462,770 45%
of that, discretionary	10,358,462,770 52%
Private Fund GAV^*	8,320,165,359 -2%
Avg Account Size	470,839,217 52%
SMA’s	Yes
Private Funds	19 1
Contact Info	(21 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Other

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count6	GAV$3,923,112,806
Fund TypePrivate Equity Fund	Count13	GAV$4,397,052,553

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser ASIA DEBT MANAGEMENT HONG KONG LIMITED	Hedge Fund486.6m	Liquidity Fund-	Private Equity Fund405.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV892.2m	AUM-	#Funds6
Adviser BTG PACTUAL ASSET MANAGEMENT US , LLC	Hedge Fund12.8b	Liquidity Fund-	Private Equity Fund3.0b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund222.5m	Total Private Fund GAV16.0b	AUM25.6b	#Funds56
Adviser SOLEUS CAPITAL MANAGEMENT, L.P.	Hedge Fund1.8b	Liquidity Fund-	Private Equity Fund565.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.4b	AUM2.3b	#Funds14
Adviser COURAGE CAPITAL MANAGEMENT, LLC	Hedge Fund160.0m	Liquidity Fund-	Private Equity Fund1.3b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.4b	AUM1.4b	#Funds11
Adviser B. RILEY CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM200.4m	#Funds-
Adviser GENERATIVE INVESTMENT PARTNERS LP	Hedge Fund46.0m	Liquidity Fund-	Private Equity Fund100.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund18.2m	Total Private Fund GAV164.7m	AUM152.4m	#Funds14
Adviser TYRUS CAPITAL S.A.M.	Hedge Fund462.4m	Liquidity Fund-	Private Equity Fund498.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV961.2m	AUM-	#Funds5
Adviser TYBOURNE CAPITAL MANAGEMENT (HK) LTD	Hedge Fund1.0b	Liquidity Fund-	Private Equity Fund653.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.7b	AUM-	#Funds11
Adviser CAZ INVESTMENTS L.P.	Hedge Fund5.2b	Liquidity Fund-	Private Equity Fund3.5b	Real Estate Fund13.7m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV8.7b	AUM8.7b	#Funds149
Adviser MHR FUND MANAGEMENT LLC	Hedge Fund608.7m	Liquidity Fund-	Private Equity Fund4.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV5.2b	AUM5.2b	#Funds15

Brochure Summary

Overview

400CM was founded in October of 2008 and is organized as a Delaware limited liability company. 400CM has its principal place of business in New York, New York. Chris Hentemann is the managing member and principal owner of 400CM. Please see Form ADV Part 1, Schedule A for additional information on 400CM’s current ownership. 400CM provides discretionary investment advisory services to privately offered pooled investment vehicles (each, a “Fund” and collectively, the “Funds”), both directly as the adviser and as a sub-adviser (such Funds for which 400CM acts as sub-adviser, the “Sub- Advised Funds”). References herein to Funds include Sub-Advised Funds unless Sub- Advised Funds are referred to separately or the context indicates otherwise. The Adviser also manages separate accounts for select institutional clients (“Managed Account Clients”). Collectively, the Funds and Managed Account Clients are referred to as the “Client Accounts.” Investment advisory services are provided directly to the Funds and not to investors

in the Funds. Accordingly, such services are tailored to each Fund’s investment objectives, strategies and guidelines as described in the respective Fund’s offering documents. 400CM provides investment advisory services to its Managed Account Clients in accordance with each client’s respective investment management agreement and the investment objectives, strategies and guidelines set forth in the respective investment management agreement. 400CM does not participate in wrap fee programs. 400CM generally invests across residential and commercial mortgage loans and securities (RMBS and CMBS), consumer loans and asset-backed securities (ABS), other structured credit products and corporate assets, related performing and distressed portfolios and derivatives. A more detailed description of the services and strategies is available in “Item 8: Methods of Analysis, Investment Strategies and Risk of Loss.” As of December 31, 2023, 400CM had approximately $5.9 billion net assets under management, all of which are managed on a discretionary basis.

400 CAPITAL MANAGEMENT LLC

Adviser Profile

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Brochure Summary

Overview