A. General Description of Advisory Firm. Silverview Credit Partners LP (“Silverview”
or the “Adviser”) is a Limited Partnership formed in August 2015 under the laws
of the state of Delaware. Silverview is controlled by its general partner,
Silverview Credit Manager LLC, a Delaware limited liability company. The
Managing Members of Silverview Credit Manager LLC are Adam Hagfors,
Managing Partner and Chief Investment Officer (“CIO”), Vaibhav Kumar,
Partner and Portfolio Manager, and Brian Rigert, Partner and Portfolio
Manager are collectively herein referred to as the “Silverview Principals”.
Vaibhav Kumar and Brian Rigert are herein referred to as the “Portfolio
Managers”.
Kaushik Amin, Mark Walsh, and Brett Bossung (the “SP Principals”), the
Silverview Principals and the Silverview Credit Manager LLC, each and
collectively form the ownership interest in the Adviser.
B. Description of Advisory Services. Silverview provides advisory and sub-advisory
services to sophisticated institutional investors on a discretionary or non-
discretionary basis, which include pooled investment vehicles, co-investments
and separately managed accounts (collectively, the “Clients”). Silverview has
particular expertise in investing and trading in a variety of credit products.
These credit products may include investments in special situations (lending),
securitized products, structured credit products, single-name credit products,
credit default swaps and other derivatives.
Silverview currently manages four (4) fund groups:
Silverview Credit Opportunities LP (“SCO Master Fund”), a Cayman Islands
exempted limited partnership and is the master fund for two feeder funds:
The Silverview Credit Opportunities Offshore Fund LP (“SCO Offshore
Feeder”), a Cayman Islands exempted limited partnership and serves as
the offshore feeder fund.
The Silverview Credit Opportunities Onshore Fund LP (“SCO Onshore
Feeder”), a Cayman Islands exempted limited partnership, serves as the
onshore feeder fund.
The Silverview Credit Opportunities AIV LP (“SCO AIV Fund”), a Delaware
exempted limited partnership, is a parallel fund entity of SCO Master Fund
and is the master fund for one feeder fund:
The Silverview Credit Opportunities Offshore Fund AIV LP (“SCO Offshore
AIV Feeder”), a Delaware exempted limited partnership, serves as the
offshore feeder fund for the parallel fund entity.
The SCO Master Fund, SCO AIV Fund and its feeders are herein collectively
referred to as the “SCO Fund Group”.
Silverview Special Situations Lending LP (“SSL1 Master Fund”), a Delaware
limited partnership, which is the master fund for three feeder funds.
Silverview Special Situations Lending Offshore Fund LP (“SSL1 Offshore
Feeder Fund”), a Delaware limited partnership, serves as the offshore
feeder fund, and
Silverview Special Situations Lending Onshore Fund LP (“SSL1 Onshore
Feeder Fund”), a Delaware limited partnership, serves as the onshore
feeder fund, and
Silverview Special Situations Lending TE Fund LP (“SSL1 TE Feeder Fund”),
a Delaware limited partnership, serves as another feeder fund.
The SSL1 Master Fund and its feeders are herein collectively referred to as
the “SSL1 Fund Group”.
Silverview Special Situations Lending Fund II LP (“SSL2 Master Fund”), a
Delaware limited partnership, which is the master fund for two feeder funds.
Silverview Special Situations Lending Offshore Fund II LP (“SSL2 Offshore
Feeder Fund”), a Delaware limited partnership, serves as the offshore
feeder fund, and
Silverview Special Situations Lending Onshore Fund II LP (“SSL2 Onshore
Feeder Fund”), a Delaware limited partnership, serves as the onshore
feeder fund, and
The SSL2 Master Fund and its feeders are herein collectively referred to as
the “SSL2 Fund Group”.
The Spearhead Insurance Solutions IDF, LLC – Series SCL (“IDF”) is a
pooled
investment vehicle with (a) the manager of the IDF, Spearhead IDF Partners,
LLC (“IDF Manager”), a Delaware limited liability company, who will be
responsible for controlling the day-to-day operations of the IDF, (b) the
investment manager of the IDF, Spearhead Administrative Services, LLC
(“IDF IM”), a Delaware limited liability company, who will be responsible to
provide investment advice, administrative services and selects and retains
sub-advisors to directly manage the IDF’s objective and strategy, (c) the
sub-adviser for the IDF, Silverview, who is responsible to invest or dispose all
of the IDF’s investments. For the purpose of this document, collectively, the
IDF Manager and the IDF IM will be referred to as the IDF Adviser.
For the avoidance of doubt, additional information regarding the IDF will
be filed by the IDF Adviser in their Form ADV. In the case of any
inconsistencies between this document and the offering document, the
offering document shall control.
The SCO Fund Group, SSL1 Fund Group, SSL2 Fund Group, the Co-Invest Fund
Group are each referred to as a “Fund”, collectively “Funds”. The Funds
collectively with the IDF, SMA and the Co-Investments, each are referred to as
a “Client”, collectively “Clients”.
As of December 31, 2023, only SSL2 Fund Group and the IDF are open to new
investors; all other Clients are closed to new investors.
The Funds may conduct their investment activities through an intermediate
special purpose vehicle, when applicable, which in turn will invest some or all
its assets in a trading special purpose vehicle. The intermediate special
purpose vehicles and trading special purpose vehicles for the Funds are as
follows:
Unless otherwise indicated, references herein to the investment activities of a
particular Fund mean the investment activities of that Fund through its
intermediate special purpose vehicle as well as its trading special purpose
vehicle. Other references to the Funds may, to the extent appropriate, include
the intermediate special purpose vehicle and/or the trading special purpose
vehicle.
When applicable, Silverview may also: (a) create an investment vehicles in
which the Funds may own a direct or indirect interest for the purpose to
acquire investments as part of a Fund’s investment program (“SPV”), (b) offer
co-lending opportunities to existing and new Investors through a pooled
investment vehicle for the purpose to acquire a single investment (“Co-Invest
Fund”) or (c) allocate a portion of a single investment to one or more external
third party lenders or co-lenders (each a “Co-Investment”, collectively “Co-
Investments”).
As of December 31, 2023, Silverview has one (1) Co-Investment and together
with the IDF, will be labeled as “Other Advisory Clients” in the Form ADV Part
1A (Item 5D(n)).
C. Availability of Tailored Services for Individual Investors. Silverview does not tailor
its advisory services to the individual needs of investors and does not accept
Investor-imposed investment restrictions with respect to the Funds, however,
Silverview may, at its discretion, enter into side letters or other similar
agreements with certain investors. Such side letters may have the effect of
establishing rights (including economic or other commercial terms) under or
altering or supplementing the Private Fund’s Governing Agreements.
The Co-Investments are subject to investment objectives, guidelines,
restrictions, fee arrangements and other terms that are individually negotiated
with Co-Investment’s Investor.
D. Wrap Fee Programs. Silverview does not participate in wrap fee programs.
E. Clients Assets Under Management. Silverview’s regulatory assets under
management as of December 31, 2023 is approximately $585,000,000. All
assets managed by Silverview are managed on a discretionary and non-
discretionary basis.