Eversept Partners, L.P., a Delaware limited partnership (“Eversept”), was founded in September 2015 by
Kamran Moghtaderi to provide discretionary investment advisory services to pooled investment vehicles
operating as private investment funds. Eversept currently sponsors the following U.S. and non-U.S. private
investment funds, which it manages and directs the investment and reinvestment of assets for:
o Eversept Global Healthcare Fund, L.P., a Delaware limited partnership (the “GHC Master
Fund”);
o Eversept Global Healthcare Offshore Fund, Ltd., a Cayman Islands exempted company
(the “GHC Offshore Fund”, and together with the GHC Master Fund, the “GHC Funds” or
the “GHC Fund”);
o Eversept ELS Master Fund, L.P., a Cayman Islands exempted limited partnership (the
“ELS Master Fund”);
o Eversept ELS Offshore Fund, Ltd., a Cayman Islands exempted company (the “ELS
Offshore Fund”, and together with the ELS Master Fund, the “ELS Funds” or the “ELS
Fund”);
o Eversept Generations Fund, L.P., a Delaware limited partnership (the “EGF Master Fund”,
and together with the GHC Master Fund and ELS Master Fund, the “Master Funds” or the
“Master Fund”); and
o Eversept Generations Offshore Fund, Ltd., a Cayman Islands exempt company (the “EGF
Offshore Fund” and together with EGF Master Fund, the “EGF Funds” or the “EGF
Fund”).
The EGF Funds follow a substantively similar investment strategy as the long only share class of the GHC
Funds. The ELS Funds are a fund of one and managed for a single investor.
Eversept also provides discretionary investment sub-advisory services to third-party funds (“Sub-Advised
Funds”) which generally invest on a pari-passu basis with one or more of the Investment Funds (as defined
below) in accordance with the terms of the respective sub-advisory agreement.
An affiliate of Eversept, Eversept GP, LLC (“GP I”), a Delaware limited liability company, acts as the
general partner of the GHC Master Fund, Eversept GP II, LLC (“GP II”), a Delaware limited liability
company, acts as the general partner of ELS Master Fund, and Eversept GP III, LLC (“GP III”, together
with GP I and GP II, the “GPs” or the “GP”), a Delaware limited liability company, acts as the general
partner of EGF Master Fund. Kamran Moghtaderi is the managing principal of Eversept, and managing
member of GP I, GP II ad GP III and directly and indirectly owns 100% of these entities.
Each of the GHC Funds and the EGF Funds may be referred to individually in this Brochure as an “Eversept
Fund” and together as the “Eversept Funds”. Each of the GHC Funds, the ELS Funds and the EGF Funds
may be referred to individually in this Brochure as an “Investment Fund” and together as the “Investment
Funds”. Each of the Investment Funds and the Sub-Advised Funds may be referred to individually in this
Brochure as a “Fund” and together as the “Funds”. The terms for each Investment Fund are disclosed in
detail in the relevant Investment Fund’s offering documents
that are provided to prospective investors prior
to investment.
Eversept acts as the investment manager of each Investment Fund and an investment sub-adviser to the
Sub-Advised Funds. In the future, (i) Eversept or its affiliates may provide discretionary and/or non-
discretionary investment advisory services to separately managed accounts (the “Managed Accounts”), (ii)
Eversept or its affiliates may act in an investment advisory capacity to certain wholly-owned subsidiaries
and trading vehicles of the Investment Funds used to carry out certain investment objectives of the
Investment Funds, and (iii) Eversept or its affiliates may provide investment advisory services to other
investment funds (all present and future advisory clients of Eversept, including the Funds and the Managed
Accounts, the “Advisory Clients”).
As further described in Item 8 below, the primary source of return generation of the Investment Funds
comes from investing and trading in a broad array and type of securities and financial instruments, domestic
and foreign, publicly traded or privately placed. Additionally, Eversept may allocate certain Funds’ capital
to hedging activities designed to preserve capital and mitigate risk. The hedging activities may involve the
Investment Funds owning financial instruments or entering into hedging agreements which may include a
wide range of securities, options, futures, swaps and other assets Eversept deems appropriate.
Generally, investors in any of the GHC or EGF Funds do not have the ability to individually tailor their
investments or impose specific investment restrictions. However, when deemed appropriate, a GHC Fund
may create a special class of interests or shares to accommodate a particular investor’s or a group of
investors’ unique investment restrictions. From time to time the Funds also enter into side letters and other
agreements and arrangements with certain investors which provide terms and conditions that are more
advantageous than those set forth in the applicable Funds’ offering materials. Such terms and conditions
may include special rights to make future investments in the Funds or other investment vehicles or accounts
managed by Eversept, different transparency rights, reporting rights, and/or different fee terms.
If Eversept establishes Managed Accounts, the investment objectives, fee arrangements and terms of
Managed Accounts are individually negotiated, and any such Managed Account relationships may be
subject to significant account minimums.
Eversept does not participate in wrap fee programs.
As of December 31, 2023, Eversept and its affiliates manage approximately $1.1 billion of Advisory Client
assets on a discretionary basis and does not currently manage any assets on a non-discretionary basis. It
should be noted that the assets under management disclosed here has been calculated differently than that
of “regulatory assets under management” as disclosed in Eversept’s Form ADV Part 1, Item 5.F.