Meteora Capital, LLC, based in Delaware, started its operations in February 2021. The company's main objective is to achieve stable returns that do not depend on the performance of the stock market, focusing on exploiting inefficiencies in the financial markets.
The firm manages a Special Purpose Acquisition Company (SPAC) Strategy for its private investment funds, including Meteora Capital Partners, LP, and others. The general partner for these funds is Meteora Capital GP, LLC, owned by Vikas Mittal.
Meteora Capital offers discretionary investment advice to its clients, which include private investment funds and separately managed accounts or funds-of-one.
As of the end of 2022, the company managed roughly $592.8 million in regulatory assets for its clients.
During the period from March 2022 to July 2023, according to ADV forms, Meteora Capital, LLC's total assets under management (AUM) experienced a significant growth of 65%, increasing from $359.2 million to $592.8 million.
Concurrently, the firm expanded the number of managed accounts, which more than doubled from 4 to 10. Notably, this substantial expansion in AUM and client accounts was achieved while maintaining the same workforce size, with the employee count remaining constant at 10.
The firm also disclosed updates for its two private master funds:
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METEORA SPECIAL OPPORTUNITY FUND I, LP
- Gross Asset Value increased from $82.26 million to $97.78 million
- Related Persons Ownership decreased from 7% to 4%
- Non-US Ownership increased from 48% to 49%
- Updates in Prime Brokers and Custodians
- The Feeder Fund, METEORA SPECIAL OPPORTUNITY OFFSHORE FUND I, LP was added on 2022-02-09
- Changes in Custodian: Addition of CANTOR FITZGERALD & CO. and TD SECURITIES (USA) LLC on 2023-07-10
- Addition of Prime Broker: CANTOR FITZGERALD & CO. on 2023-07-10
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METEORA CAPITAL PARTNERS, LP
- Gross Asset Value decreased from $276.92 million to $210.01 million
- Number of Beneficial Owners decreased from 71 to 70
- Related Persons Ownership decreased from 23% to 22%
- Non-US Ownership increased from 43% to 45%
- Updates in Prime Brokers and Custodians
- The Feeder Fund, METEORA CAPITAL PARTNERS OFFSHORE, LP was added on 2022-02-09
- Changes in Custodian: Addition of J.P. MORGAN CLEARING CORP., TD SECURITIES (USA) LLC, and CF SECURED, LLC on 2023-07-10
- Addition of Prime Broker: CF SECURED, LLC on 2023-07-10