Fees and Compensation — Form ADV Part 2A (3/31/2026)
[Brochure]
Item 5 - Fees and Compensation
A. We are compensated for our advisory services only through performance-based fees. Please refer to
Account Minimums and Types of Clients — Form ADV Part 2A (3/31/2026)
[Brochure]
Item 7 - Types of Clients
We provide our services solely to HCI. We have no present plans to provide our investment advisory
services to any additional clients, but we reserve the right to do so in the future.
From time to time, HCI is open to new Limited Partners or additional investments by existing Limited
Partners. The minimum subscription applicable to new Limited Partners in either of the Master Fund or
the Offshore Feeder Fund is $25,000,000, unless otherwise permitted by the relevant GP in its sole
discretion. Each Limited Partner is required to be both an “accredited investor,” as defined by Rule 501
promulgated under the Securities Act of 1933 (“Securities Act”); and a “qualified purchaser” as defined
by Section 2(a) of the Investment Company Act of 1940 (“Company Act”).
Filed 2018-08-02 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $50,000 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose