Fees and Compensation — Form ADV Part 2A (4/22/2016)
[Brochure]
Item 5. Fees and Compensation
Exigent generally receives an annual management fee from each of the Clients that is typically
2% of each Client’s total fund net asset value (“NAV”). The management fee is typically paid
monthly and deducted from each investor’s account. Management fees may be payable in
advance depending on the terms of each Client’s offering documents. The fees of each Client
are stated in the offering documents of that Client. Fees and fee terms may vary from Client to
Client.
From time to time, Exigent and/or the applicable general partner of a Client may enter into
arrangements with one or more Client investors that provide for different and potentially more
favorable terms than the terms described herein.
Exigent or one of its affiliates also typically receive, subject to a loss carryforward provision, a
performance-based incentive allocation of 20%. For more information about performance-based
fees please refer to Item 6: Performance-Based Fees and Side-By-Side Management below.
Each Client typically pays (or reimburses Exigent) for the direct and indirect expenses related to
the operation of the Client. The following are examples of expenses that are paid from or charged
to Clients, as applicable: legal, compliance, administrator, audits and accounting expenses
(including third-party accounting and valuation services); shareholder proxy voting services;
organizational expenses; investment expenses such as commissions, research fees and expenses
(including research related travel and subscription fees such as Bloomberg); expenses incurred
in connection with offering interests in the Clients; interest on margin accounts and other
indebtedness; borrowing charges on securities sold short; custodial fees; bank service fees;
certain insurance costs; directors’ or other overseer fees and expenses; pro rata expenses of any
applicable master fund; and any other expenses related to the purchase, sale, or transmittal of
Client assets. Expenses may vary from Client to Client and all investors must review carefully
the offering documents of a Client for a full description of the fees and expenses applicable to
their investment.
If a contract with a Client is terminated before the end of a billing period, Exigent typically
refunds any overpayment of fees pro rata based on the number of days remaining in the billing
period.
Account Minimums and Types of Clients — Form ADV Part 2A (4/22/2016)
[Brochure]
Item 7. Types of Clients
Exigent currently provides investment advisory services to the Clients which are intended for
high net worth individuals, family offices, trusts, financial institutions, foundations, private
investment vehicles, hedge funds or pooled investment vehicles, and other institutional investors.
The Clients generally have a stated required minimum investment of $250,000. Exigent may,
however, require Client investments in a different amount.