Saluda Grade Asset Management LLC (SGAM), a New York-based investment management firm, has been offering strategic and discretionary investment advisory services to private funds. Operating in unison with its relying adviser, Saluda Grade Ventures LLC (SGV), SGAM crafts investment strategies as outlined in the governing documents of the funds it manages.
From June 2022 to June 2023, some significant changes were observed in SGAM's Form ADV filing. These modifications include the retention of 7 accounts and a reduction in the employee count from 25 to 23. The total assets under management (AUM) for Saluda Grade Asset Management saw a significant increase, growing from $543M to $1.25B, a 129% increase.
During this period, SGAM also revised its portfolio, removing several private funds, including the Saluda Grade Opportunities Fund LP ($25M in gross asset value), Saluda Grade Tactical Credit Holdings LLC ($237.48M), and another iteration of the Saluda Grade Opportunities Fund LP ($102.66M).
However, it's not all about reductions; SGAM introduced four new private funds.
These include Saluda Grade Tactical Credit Holdings LLC ($867M in gross asset value, $500k minimum investment), Saluda Grade Alternative Lending & Fintech Growth Fund I LP ($57.77M and $250k), Saluda Grade Alternative Lending & Fintech Growth Fund II LP ($38.53M and $500k), and Saluda Grade Opportunities Fund LP ($279.69M and $250k).
The executive team has also witnessed significant changes.
Brian E Brennan, the former Portfolio Manager, and Ryan Joseph Craft, the previous Chief Executive Officer, have been removed from direct ownership roles.
On the other hand, Timothy Edward Carr has joined the team as the Chief Information Officer (CIO) and Chief Operating Officer (COO), having relinquished his CCO title. Deborah Lynn Box has been appointed as the new Chief Compliance Officer (CCO), while Brett Evan Lipsky has assumed the roles of Chief Operating Officer (COO) and Chief Financial Officer (CFO).
Finally, Ryan Paul Brennan has joined the executive team as the Chief Financial Officer (CFO).
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