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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 5 25.00%
of those in investment advisory functions 3 50.00%
Registration SEC, Approved, 07/11/2012
AUM* 238,328,331 12.79%
of that, discretionary 238,328,331 12.79%
Private Fund GAV* 9,090,695 3.77%
Avg Account Size 79,442,777 50.39%
% High Net Worth < 0.01% -100.00%
SMA’s Yes
Private Funds 2
Contact Info 305 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses
- Selection of other advisers

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
1B 986M 822M 658M 493M 329M 164M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count2 GAV$9,090,695

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Brochure Summary

Overview

The principal owners of Catenary Alternatives Asset Management, LLC (“CAAM”) are Eli Cohen, James Besaw, George L. Perez and Guillermo Socarras. CAAM was formed as a limited liability company under the laws of the State of Delaware in 2012, with a principal place of business in Miami, Florida. CAAM provides investment management services to private funds (the “Funds”) and a separately managed account (the “SMA”). CAAM is an adviser to the following Funds: V Alternative, LP (V-ALT), which is a limited partnership organized under the laws of Delaware, of which implements a systematic alternative strategy that seeks to harvest excess risk premiums contained within major volatility markets. Affiliates of CAAM serve as the general partner of V- ALT. Catenary Gangkhar Onshore Fund LP, a Delaware limited partnership (the “Domestic Feeder”) and Catenary Gangkhar Offshore Fund Ltd, a Cayman Island limited company (the “Offshore Feeder” and together with the Domestic Feeder, the “Feeder Funds”) are organized as part of a “master-feeder” structure and invest substantially all of their investable assets in Catenary Gangkhar Alpha Fund, LLC, a Cayman Islands limited liability company (the “Master Fund” or “Catenary Gangkhar”) The general partner of the Domestic Feeder and the special member of the Master Fund is Gangkhar Management LLC, a Delaware limited liability company (the “General Partner”). CAAM is the Investment Manager to the Master Fund. Persons affiliated with CAAM (as well as one or more persons domiciled in the Cayman Islands who are otherwise unaffiliated with CAAM) serve on the Board of Directors of Catenary Gangkhar. The Master Fund’s investment objective is to generate returns uncorrelated to equity and fixed income markets over time by investing both long and short in global markets. The Master Fund will pursue this objective by investing predominantly in a portfolio of publicly traded equities and equity-related instruments. The Investment Manager will seek to achieve the investment objective in part by allocating the Master Fund’s capital to external portfolio managers (the “Portfolio Managers”) via separately managed accounts. In addition, the Master Fund will make direct investments in equities and equity-related instruments. In accordance with common industry practice, the general partner of V-ALT and the Board of Directors of Catenary Gangkhar may enter into “side letters” or side agreements with certain investors of the Funds whereby such investors are granted specific rights, benefits, or privileges not set forth in the governing documents of the Funds. Such investor specific rights, benefits or privileges may not be made available to all investors generally. CAAM advises the Funds with respect to the acquisition, management and disposition of investments. The services that CAAM provides to each Fund are based on and tailored to such Fund’s specific investment needs and goals and not to those of the Fund’s investors. Strategic Investor CAAM, the General Partner and the Managing Member have entered into agreements (collectively, the “Strategic Agreements”) with a significant initial investor (the “Strategic Investor”) in connection with the Strategic Investor investing in a separately managed account managed by CAAM (“Strategic Investor
SMA”), which invests on a pari passu basis with the investments of the Master Fund, subject to certain investment restrictions of the Strategic Investor, in return for a revenue share. Under the Strategic Agreements, the Strategic Investor is entitled to more favorable information rights in respect of the Master Fund’s portfolios, “most favored nations” rights and certain other rights that differ materially from those available to investors in the Feeder Funds. The Strategic Agreements also grant an affiliate of the Strategic Investor the right, subject to certain conditions, to receive a portion of the gross operating revenue of CAAM attributable to any investment fund, managed account or other investment product or service established, managed or provided by CAAM. The Strategic Agreements grant such affiliate of the Strategic Investor certain approval or consent rights with respect to CAAM, the General Partner, the Feeder Funds and the Master Fund, and as a result, CAAM and the General Partner may be unable to take certain actions, including with respect to the Feeder Funds and the Master Fund, that they otherwise would pursue in the absence of the aforementioned approval or consent rights. CAAM has also entered into a placement agreement with an affiliate of the Strategic Investor pursuant to which the affiliate will identify and introduce potential investors to the Feeder Funds at no additional cost other than expense reimbursements to be paid jointly and severally by CAAM, the Feeder Funds and the Feeder Funds’ general partners as well as certain indemnification rights. The Strategic Investor is not affiliated with CAAM, the General Partner or their respective affiliates. The Strategic Investor is not a sponsor of the Master Fund or the Feeder Funds. The Strategic Investor will not have any responsibilities with respect to CAAM, the General Partner or their respective affiliates or with respect to the Master Fund or the Feeder Funds and will not exercise any control over the day-to-day investment decisions of such Funds. The Strategic Investor owes no duty to the Master Fund or the Feeder Funds or their investors and may act solely in its own interest in exercising its rights with respect to its investments and the agreements referenced above (including the Strategic Agreements). As of December 31, 2023, CAAM managed approximately $238 million in assets on a discretionary basis. Investment Management Services CAAM provides investment management services to V-ALT, and Catenary Gangkhar subject to the authority and limitations set forth in the Funds’ respective offering memoranda. CAAM’s investment management strategies for its Funds, as well as CAAM’s risk management analysis of third party funds are more fully described under Item 8 below. CAAM shares common ownership with GenTrust, LLC (“GenTrust”). GenTrust is an investment adviser registered with the SEC that invests in, among other things, mutual funds, stocks, bonds, private equity, private funds, cash, and exchange traded funds (ETFs). CAAM and GenTrust share office space, management, supervisory and administrative employees. In general, GenTrust clients who pay an overall asset-based management fee may be subject to management and performance fees in V-ALT and Catenary Gangkhar.