FIRMDESCRIPTION
FairbridgeAssetManagementLLC(“Fairbridge”)wasformedinDelawarein2018andisa
registeredinvestmentadviserwiththeSECunderSection203oftheInvestmentAdvisers
Actof1940,asamended(the“AdvisersAct”).Thefirm’sprincipalownersareBrianWalter,
JohnLetteraandStevenWissak.
SERVICESPROVIDED
Fairbridgeprovidesadvisoryservicesonadiscretionarybasistoitsclients,whicharecertain
pooledinvestmentvehicles(each,a“Fund”andcollectively,the“Funds”).Fairbridgeisan
asset-basedlenderthatoriginatesandmanagesapoolofshort-termbridgeloans,generally
securedbyalienonrealestateassets.
Fairbridge’sinvestmentadvisoryservicestotheFundsareprincipallyfocusedonoriginating
shorttermloans,typicallybetweensixmonthsandthreeyears,securedbyalienonreal
estatecollateral.Theloan-to-valueratiooftheseloansistypicallytargetedtobe40%-70%
andtheunderlyinginterestrateshavetypicallybeen10%-13%.Thecollateralsecuringthe
loans is generally multi-family assets (or 1-4 tenant residential buildings). However,
Fairbridgemayalsooriginateloanssecuredbyotherassetsincluding,butnotlimitedto,
land,industrial,retail,hospitality,office,andhealthcare.Fairbridgemanagesaportfolioof
realestateloansanddoesnottailortheportfoliotomeettheneedsofanyindividualclient.
Fairbridge
provides advice to its Funds based on the specific investment objectives and
strategiesoftheFunds.Fairbridgedoesnottailoradvisoryservicestotheindividualneeds
ofaninvestorintheFunds.Fundsmayimposeguidelinesandlimitationsoninvestingin
certainsecuritiesorcertaintypesofsecurities.Adescriptionoftheservicesprovidedby
FairbridgetotheFunds,aswellasthefees,investmentguidelines,andotherrelevantterms
aresetforthintheorganizationaldocuments,investmentmanagementagreements,offering
materials,orotherrelateddocuments(collectively,“GoverningDocuments”)ofeachFund.
Fairbridgeisnotpermittedtoassign(withinthemeaningoftheAdvisersAct)amanagement
agreement without consent from the applicable Fund. Termination of an advisory
relationshipissubjecttotheapplicableGoverningDocuments.Insomecases,theFundsor
Fairbridgecouldbepermittedtoterminatethecorrespondingmanagementagreementat-
willwithadvancewrittennotice.Feeswillbechargedthroughthedateserviceisterminated.
AsofDecember31,2023,Fairbridgehadapproximately$348,627,964inregulatoryassets
undermanagement,allofwhichismanagedonadiscretionarybasis.