Item 5: Fees and Compensation.
A. Advisory Fees and Compensation
Asset-Based Compensation
Pinz charges each Client an investment management fee in accordance with the terms as outlined
in the Investment Management Agreement (“IMA”) for each individual Client. This fee is based on
the value of the Client’s assets under management. Currently, the investment management fees
charged to the firm’s private Funds range from 1.0% to 2.0% per annum. Other Client Account fees
will be established based on negotiations with each individual Client.
Performance-Based Compensation
The Firm may also receive performance-based compensation from certain Clients, which is based
on a share of capital gains on, or capital appreciation of, the assets of a Client (such as a Client that
is an investment partnership or other pooled investment vehicle.) This compensation may be paid to
Form ADV Part 2A 4
PINZ CAPITAL MANAGEMENT, LP
the Firm or to a related person of the Firm. The performance-based compensation currently ranges
from 15% to 20% of net profits, and is computed and charged on an annual basis. All performance-
based compensation is subject to a loss carryforward provision, whereby a Client Account will not be
charged a performance fee or allocation until the amount of a loss previously allocated has been
recouped.
The General Partner or Firm may reduce or waive any or all fees without the consent of or notice to
the other investors.
B. Payment of Fees
Investment management fees for the firm’s private Funds are charged each month in advanced based
on the total market value of the net assets in the Client Account (including net unrealized appreciation
or depreciation of investments and cash, cash equivalents and accrued interest) on the last day of
the previous month. Performance based fees for the firm’s private Funds are charged on an annual
basis on the last day of the calendar year.
C. Additional Fees and Expenses
In addition to paying investment management fees and, if applicable, performance-based
compensation, Client Accounts may also be subject to other investment expenses such as custodial
charges, brokerage fees, commissions and related costs; research fees, interest expenses;
borrowing charges on securities sold short, taxes, duties and other governmental charges; transfer
and registration fees or similar expenses; costs associated with foreign exchange transactions; other
portfolio expenses; and costs, expenses and fees (including investment advisory and other fees
charged by investment advisers with, or funds in, which the Client’s account invests) associated with
products or services that may be necessary or incidental to such investments or accounts.
Investors invested in the firm’s private Funds will bear their pro rata share of the Fund’s operating
and other expenses including, in addition to those listed above: sales legal expenses; internal and
external accounting, audit and tax preparation expenses; organizational expenses, and any other
reasonable expenses related to the purchase, sale, or transmittal of the Fund’s assets. Client assets
may be invested in money market mutual funds, ETFs or other registered investment companies. In
these cases, the Client will bear its pro rata share of the investment management fee and other fees
of the invested Fund, which are in addition to the investment management fee paid to Pinz. Client
assets may be invested in a master-feeder structure. Feeder Funds bear a pro rata share of the
expenses associated with the related Master Fund. Annual expenses of the firm’s private Fund are
set forth in their certified annual financial statements. Please refer to Item 12 of this Firm Brochure
for a discussion of the Firm’s brokerage practices.
D. Prepayment of Fees
Not applicable.
E. Additional Compensation and Conflicts of Interest
Not applicable.
Form ADV Part 2A 5
PINZ CAPITAL MANAGEMENT, LP