Overview
Clearfield Capital Management LP is a Delaware limited partnership that was formed on
September 22, 2014. Clearfield is controlled by its principal owner, Philip Hilal (the “Principal
Owner”), who acts as the managing member of Clearfield's general partner, Clearfield Capital
Management GP LLC, a Delaware limited liability company (the “Investment Adviser
General Partner”). Clearfield provides investment advisory services to private funds (each
a “Fund” and collectively, the “Funds”) and may in the future advise separately managed
accounts (the “Managed Accounts”). Unless stated otherwise, the Funds are collectively
referred to herein as the “Clients.” The general partner for Clearfield Domestic Fund LP,
Clearfield Intermediate Fund LP and Clearfield Master Fund LP is Clearfield Capital GP LLC
(the “General Partner”), a Delaware Limited Liability Company formed on January 16, 2015.
The General Partner has ultimate responsibility for the management, operations and
investment decisions of the Funds.
Clearfield provides investment management services to its Clients pursuant to investment
guidelines within the relevant organizational documents, limited partnership agreement,
investment management agreement, offering memorandum and/or subscription agreements,
as the case may be (each an “Offering Document”, and collectively, the “Offering
Documents”). Clearfield
does not tailor its services to the individual Fund investors or
provide investors with the right to specify, restrict, or influence the Funds’ investment
objectives or any investment or trading decisions.
Clearfield seeks to accomplish its Clients' investment objectives through disciplined, research-
intensive investment and risk-management processes focusing primarily on public equity
(including "new issues") and equity-linked securities (e.g., common and preferred stock,
options, warrants and other derivatives), which the Firm believes are priced below their
intrinsic value, and debt from time to time. Clearfield does not provide investment advisory
services with respect to a limited range of investments.
Clearfield and the Funds have entered into, and may in the future enter into agreements,
commonly known as “Side Letters,” with certain investors under which Clearfield waives or
modifies the application of certain investment terms applicable to such investors, without
obtaining the consent of any other investor in the Fund (other than an investor whose rights
would be materially and adversely affected by the waiver or modification).
Clearfield does not participate in wrap fee programs.
As of December 31, 2023, the Firm managed $270,671,880 in regulatory assets under
management (“RAUM”), all managed on a discretionary basis.