Item 5: Fees and Compensation
The fees applicable to each Fund and potential Managed Account are set forth in detail in each Fund’s
offering documents and investment management agreement. Aravt Global may enter into different
fee arrangements for the Management Fee and the Performance Allocation Fee on a client-by-client
basis. Management Fees and Performance Fees are deducted by the Investment Manager from the
Fund. These fees are not automatically deducted from the Managed Accounts. The Investment
Manager bills the Managed Accounts for the applicable fees incurred.
The fees and expenses applicable to each Fund are set forth in detail in each Fund’s offering
documents. As explained more fully in the Fund’ Governing Documents, Aravt Global’s
compensation for the investment advisory services it provides to the Funds is comprised of an asset-
based management fee and an incentive allocation that is based on a share of the realized and
unrealized net profits or capital appreciation of the Funds’ assets. The Onshore and Offshore Fund
each offer two classes (each, a “Class”) of interests with varying profit allocations and liquidity
values. The Zuut Onshore and Zuut Offshore Fund each offer five classes (each, a “Class) of interests
with varying profit allocations and liquidity values. Aravt Global, in its sole discretion, may reduce,
waive, assign, participate or otherwise share the management fees or performance-based fees or
allocations. Modification of these terms may, in some cases, be based upon, among other things, the
amount of an investor’s investment, an agreement by an investor to maintain such investment for a
specified period of time or other commitments by an investor. Additionally, Aravt Global’s officers
and employees may invest on terms that are more advantageous than those of Aravt Global’s Clients
(or underlying investors). The fees and expenses applicable to each Fund are set forth in detail in each
of the Fund's Governing Documents. A brief summary of fees and expenses is provided below.
Management Fee
Aravt Global is paid a quarterly management fee by the Master Fund, payable in advance as of the
first day of each quarter in an amount ranging from 0.375% (1.5% per annum) for amounts invested
up to $1 billion to .1875% (.75% per annum) for amounts invested over $1 billion of the net asset
value of the Clients (the “Management Fee”). Aravt Global is paid a quarterly management fee by
the Zuut Master Fund, payable in advance as of the first day of each quarter in an amount ranging
from 0.25% (1% per annum) to 0.125% (0.5% per annum) dependent on the Class held by an investor.
The Management Fee will be prorated for any period that is less than a full quarter.
Aravt Global, in its sole discretion, may, in effect, waive or reduce the Management Fee to be paid to
it by any investor. To the extent the Management Fee is paid at the Feeder Fund level, no Management
Fee will be paid at the Master Fund or Zuut Master Fund level.
With respect to the services rendered to the Managed Accounts, Aravt Global shall receive quarterly,
in advance, management fee calculated at a rate of .50% per annum of the net asset value
Incentive Allocation
Kai Holdings Ltd., an affiliate of Aravt Global, is entitled to receive annual performance-based
compensation (the “Incentive Allocation”), which is compensation that is based on a share of net
capital appreciation of the assets of a Fund. The Incentive Allocation is 18% and is subject to a
modified loss carryforward. The General Partner may, in its sole discretion, waive or reduce the
Form ADV Part 2 Brochure | Aravt Global LLC March 2022
Incentive Allocation to be allocated to it by any investor.
With respect to the services rendered to the Managed Accounts, Aravt Global shall receive annual
incentive fee equal to 9% of any “new net application” of the account for any calendar year. Refer to
the governing documents for more details.
Expenses
Aravt Global renders its services to the Clients at its own expense. In addition to the Management
Fee and the Incentive Allocation, the Clients will also be subject to other expenses such as legal,
accounting, auditing and other professional expenses, administration fees and expenses, insurance
costs, research expenses, investment expenses such as commissions, expenses attributable to
regulatory filings to the extent made with respect to the Clients or the assets of the Clients, custodial
fees, bank service fees, and other expenses related to the purchase, holding, sale or transmittal of the
Clients’ assets and the Clients’ pro rata share of the Client’s expenses.
More detailed information about the fees and expenses may be found in the offering documents,
organizational documents, investment management agreement of a particular Client.
Other than as described above, neither the Adviser nor any of its supervised persons receives any
compensation from the sale of securities or other investment products.