North Reef Capital Management's AUM rose 153% from $766M to $1.94B

August 16, 2023

North Reef Capital Management LP is a California-based investment advisory firm that provides discretionary investment advisory services to a private investment fund and sub-advises managed accounts of other investment managers.

The firm's primary focus is on the North American financial services sector, and it seeks to achieve superior long-term capital appreciation by generating low volatility, double-digit annual returns across all market environments through the management of a hedged equity portfolio.

Key Highlights from Form ADV filings

Between June 2022 and August 2023, significant changes were observed in the Form ADV filings. The total assets under management (AUM) increased by 153.56%, going from $766M to $1.94B. However, during this period, the employee count reduced from 4 to 3, and the number of managed accounts expanded from 5 to 8.

Private Funds

Another noteworthy addition during this time was a private fund. On March 21, 2023, the Blackstone CSP-MST FMAP Fund was added under the advisement of Blackstone Alternative Asset Management L.P.

The firm disclosed modifications from its private fund, North Reef Capital LP.

  • Gross Asset Value:
    • New: $531,580,320 | Old: $60,416,832
  • Approximate No. of Beneficial Owners:
    • New: 32 | Old: 15
  • Beneficial Ownership by Related Persons:
    • New: 7% | Old: 46%
  • Ownership by Non-US Persons:
    • New: 64% | Old: 0%

Private Feeder Fund: NORTH REEF CAPITAL OFFSHORE LTD.

  • Added: 2023-03-21
  • Country: Cayman Islands

Custodians:

CREDIT SUISSE SECURITIES (USA) LLC:
  • Removed: 2022-06-27

Auditor: KPMG

  • Added: 2022-03-29

Prime Brokers

  • CREDIT SUISSE SECURITIES (USA) LLC:
    • Removed: 2022-06-27

 


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