GRANITE STATE CAPITAL MANAGEMENT, LP

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Adviser Profile
As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 7
of those in investment advisory functions 6
Registration SEC, Approved, 8/16/2016
AUM* 877,829,278 70.78%
of that, discretionary 877,829,278 70.78%
Private Fund GAV* 109,124,823 25.29%
Avg Account Size 97,536,586 32.83%
SMA’s No
Private Funds 5 2
Contact Info 646 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
827M 709M 591M 472M 354M 236M 118M
2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count2 GAV$68,111,049
Fund TypeSecuritized Asset Fund Count3 GAV$41,013,774

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Brochure Summary

Overview

The Company Granite State Capital Management, LP (“we,” “us”, “our” or “GSCM”) is an investment adviser registered with the SEC.1 GSCM was founded in October of 2016 by two of its limited partners, Steven T. Shirreffs and David G. Shirreffs. We are headquartered in Greenwich, Connecticut. Advisory Services Our Services GSCM provides investment advisory services to pooled investment vehicles operating as private investment funds (the “Funds”), including senior credit funds (“Senior Credit Funds”). Together, the Funds and the Senior Credit Funds will be referred to as the “Clients.” We generally provide investment advice with respect to certain types of investments, namely U.S. and non-U.S. leveraged loans, provided that we are permitted to provide advice with respect to a broad range of investments, as further described in the Funds’ operative documents. A leveraged loan is a commercial loan provided by a group of lenders. It is first structured, arranged, and administered by one or several commercial or investment banks, known as “arrangers.” It is then sold (or “syndicated”) to other banks or institutional investors. A leveraged loan is often extended to companies that already have considerable amounts of debt. Lenders consider leveraged loans to carry a higher risk of default, and as a result, a leveraged loan is more costly to the borrower. Leveraged
loans for companies with debt tend to have higher interest rates than typical loans; these rates reflect the higher level of risk involved in issuing the loan. Our firm strives to provide our clients with attractive risk adjusted returns. When we select investments for client portfolios, we evaluate characteristics of the corporate borrower, such as market share, asset coverage, cash flow generation, customer retention and recurring revenue streams. More about our firm’s investment strategies and the risks involved can be found under Item 8 of this brochure. Investment Restrictions Our advice is tailored to meet the needs of the Funds. Underlying investors may request in writing that we refrain from investing in certain industries or in securities of issuers, and we will generally honor such requests unless it materially affects our ability to execute our investment strategy. Other than accepting such investment restrictions from underlying investors, GSCM does not generally tailor its advisory services based on its analysis of the individual needs of such investors. Assets Under Management 1 Registration as an investment adviser does not imply a certain level of skill or training. ADV Part 2A – Disclosure Brochure 5 March 28, 2024 As of February 1, 2024, we have approximately $877,829,278 in regulatory assets under management. Client assets managed by us are managed on a discretionary basis.