ADVISORY BUSINESS
Column Park Asset Management, LP, a Delaware limited partnership (the
“Investment Adviser”), commenced operations in 2013. Andrew Brenner (the “Principal
Owner”), the limited partner of the Investment Adviser and the managing member of the
general partner of the Investment Adviser, Column Park GP, LLC, a Delaware limited
liability company (the “Investment Adviser General Partner”), is the principal owner of the
Investment Adviser and controls the Investment Adviser. The Investment Adviser General
Partner has ultimate responsibility for the management, operations and investment decisions
made by the Investment Adviser.
The Investment Adviser provides discretionary investment advisory services to
private pooled investment vehicles, the securities of which are offered to investors on a
private placement basis, including (1) Column Park Partners LP, a Delaware limited
partnership (the “Onshore Fund”), and (2) Column Park Offshore Fund Ltd., a Cayman
Islands exempted company (the “Offshore Fund,” and together with the Onshore Fund, the
“Feeder Funds”). The Onshore Fund and the Offshore Fund invest all their assets through a
“master-feeder” structure in Column Park Master Fund Ltd., a Cayman Islands exempted
company (the “Master Fund” and, collectively with the Feeder Funds, the “Master-Feeder
Fund” or the “M-F Fund”). In March 2021, the Investment Adviser commenced providing
discretionary investment advisory services to Column Park Fund of One Ltd., a Cayman
Islands exempted company (the “Fund of One” and collectively with the M-F Funds, the
“Funds,” or each individually, a “Fund”). The Fund of One launched with a single investor
and that single investor remains the sole investor. The Investment Adviser serves as the
investment adviser with trading authority to the Master Fund and the Fund of One. Column
Park Advisors, LLC, a Delaware limited liability company affiliated with the Investment
Adviser (the “General Partner”), serves as the general partner of the Onshore Fund and the
manager of the Master Fund.
The Investment Adviser also currently provides discretionary investment advisory
services to separately managed accounts of institutional investors (each, a “Managed
Account” and collectively, the “Managed Accounts”).
The Funds and the Managed Accounts are collectively referred to in this Brochure as
the “Clients” as applicable.
The Investment Adviser may in the future provide investment advice to other clients
including, but not limited to, pooled investment vehicles and/or institutional investors in
separately managed accounts.
The investment objective of the Feeder Funds, through their investments in the Master
Fund, and of the Fund of One, is to produce consistent, market-leading, risk-adjusted returns
in all stages of the credit cycle while providing a focus on downside protection and capital
preservation. The Funds are expected to employ fundamental, event driven, and tactical
trading strategies in any part of the credit market as potential sources of return. The
Investment Adviser seeks to achieve these objectives primarily by making long and short
investments in corporate fixed income products. While the Investment Adviser may make
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investments in a variety of securities and financial instruments, the Investment Adviser
anticipates portfolio investments primarily
in the following instruments:
• High Yield Bonds;
• Investment Grade Bonds;
• Leveraged Loans;
• Credit Default Swaps;
• Distressed Debt;
• Bridge Loans;
• Equities and Equity Derivatives;
• Convertible Bonds; and
• US Treasuries.
For the Managed Accounts, advisory services, including investment objectives, are
negotiated and established on an individual basis. Generally, the Investment Adviser utilizes
securities and financial instruments broadly similar to those for the Funds to attempt to
achieve the applicable investment objectives.
There can be no assurance that any investment objective will be achieved.
Investment results may vary substantially.
The Investment Adviser’s investment decisions and advice with respect to each Client
are based on the investment objectives and restrictions (if any) set forth in such Client’s
applicable offering memoranda, organizational documents and investment management
agreements (each, a “Governing Document,” and collectively, the “Governing Documents”)
as the case may be. The Investment Adviser does not tailor its advisory services to the needs
of any particular investor in the Funds.
The Investment Adviser does not participate in any Wrap Fee Programs.
As of December 31, 2023, the Investment Adviser had approximately $234,578,000
of regulatory assets under management (as defined) on a discretionary basis. The Investment
Adviser had no assets under management on a non-discretionary basis.
The descriptions set forth in this Brochure of specific advisory services that the
Investment Adviser offers to clients, and investment strategies pursued and investments made
by the Investment Adviser on behalf of its Clients, should not be understood to limit in any
way the Investment Adviser’s investment activities. The Investment Adviser may offer any
advisory services, engage in any investment strategy and make any investment, including any
not described in this Brochure, that the Investment Adviser considers appropriate, subject as
applicable to each Client’s investment objectives and guidelines. The investment strategies
the Investment Adviser pursues are speculative and entail substantial risks. Clients and
investors should be prepared to bear a substantial loss of capital. There can be no assurance
that the investment objectives of any Client will be achieved.
This Brochure generally includes information about the Investment Adviser and its
relationships with its Clients and affiliates. While much of this Brochure applies to all such
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Clients and affiliates, certain information included herein applies to specific Clients or
affiliates only.
This Brochure does not constitute an offer to sell or solicitation of an offer to buy any
securities. The securities of the Funds are offered and sold on a private placement basis
under exemptions promulgated under the Securities Act of 1933, as amended, and other
exemptions of similar import under U.S. state laws and the laws of other jurisdictions where
an offering may be made. Investors in the Funds generally must be both “accredited
investors,” as defined in Regulation D, and “qualified purchasers,” as defined in the
Investment Company Act of 1940, as amended, or otherwise qualified.
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