Fees and Compensation — Form ADV Part 2A (3/30/2020)
[Brochure]
Item 5 – Fees and Compensation
For its services, the Adviser receives investment management fees and incentive fees. The Adviser’s fee
schedule is omitted because this Brochure is being delivered only to qualified purchasers as defined in the
Investment Company Act of 1940. Please refer to the applicable Fund’s Governing Documents for further
information.
Management Fees
The Feeder Fund pays the Adviser a management fee based upon a set percentage of assets under
management that is calculated and payable at the end of each month. The terms of the management fee
are set forth in the Feeder Fund’s Governing Documents.
The Voyager Fund pays the Adviser a management fee, calculated and payable monthly in arrears. The
terms of the management fee are set forth in the Voyager Fund’s Governing Documents.
Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2020)
[Brochure]
Item 7 – Types of Clients
The Adviser provides investment advisory services directly and through its affiliated entities to private
pooled investment vehicles and may from time to time manage SMAs for institutional investors.
Investors investing in the Feeder Fund are required to contribute a minimum of $1 million unless such
minimum requirement is waived, subject to the absolute minimum of $100,000. Investors may include high
net worth individuals and institutional investors, including but not limited to, fund of funds vehicles,
registered investment companies, private investment funds, financial institutions, charitable institutions,
foundations, endowment funds, corporations, and corporate pension and profit-sharing plans.
The Voyager Fund is a private investment fund established for certain specific investors and is generally
closed to subscriptions by other investors except as otherwise set forth in the Voyager Fund’s Governing
Documents.
Effective as of March 30, 2020
757 Third Avenue, Suite 2019, New York, NY 10017 Tel: (212) 209-2150/ Fax: (646) 219-3923
Filed 2020-03-16 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1,000,000 · Remaining Indefinite · Duration More than one year · Commission $21,450,335 · Net Assets Decline to Disclose