Fees and Compensation — Form ADV Part 2A (3/30/2020)
[Brochure]
Item 5 – Fees and Compensation
For our role as collateral manager, each CDO pays us a quarterly fee equal to a percentage of
the total value of securities under management. The amount of our fees is subject to negotiation, but
the fees generally range between approximately 0.05% and 0.30% per year of the value of the CDO’s
securities under management. For our role as subadvisor to collateral managers of other CDOs, we
generally receive a negotiated percentage of the applicable collateral manager’s fee.
We receive fees from our collateral management clients on a quarterly basis. Those fees are paid in
accordance with the priority of payments established by the indenture governing the securities issued
by the applicable CDO. We bill all other types of fees to our clients at such times as may be agreed to
between us and the clients. Our fees are not deducted from client assets.
Neither we nor any of our supervised persons accepts compensation for the sale of securities or other
investment products.
Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2020)
[Brochure]
Item 7 – Types of Clients
We provide collateral management services exclusively to CDOs and the collateral managers of CDOs.
We do not generally provide advice to any other types of clients.