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.