PIA and also referenced herein with “we” or “our” is a Limited Liability Partnership
incorporated in England & Wales. PIA was founded in 2003, with the backing of J.P. Morgan,
although J.P. Morgan is no longer a shareholder of the Firm. The Firm currently has one
office, located in London, England with another group office also in New York.
PIA is wholly owned by Prytania Asset Management Limited (“PAM”).
PIA has been authorized by the UK regulator, the Financial Conduct Authority (“FCA”) since
31 March 2004. The Firm is an Investment Manager which is authorized to manage
Alternative Investment Funds (“AIFs”) as well as other collective investment vehicles and
Managed Accounts.
Mark Hale is responsible for all business and strategic matters of the Firm. Mark Hale is also
the Chief Investment Officer at PIA, working alongside Andrew Burgess, the Senior Portfolio
Manager of the Firm. Together both Mr. Hale and Mr. Burgess are responsible for building
and managing the Firm’s investment and research team.
Gideon Fackrell serves as the Chief Operating Officer and Chief Compliance Officer.
The Firm is a quantitatively-focused investment management firm specializing in structured
finance, managing and advising on portfolios that consist primarily of assets originated in the
UK, Europe and the USA. Nothing herein shall limit PIA’s ability to engage in a strategy or
invest in asset classes not described herein.
The Firm provides discretionary investment advisory services to three Dublin-based
investment vehicles:
(i) Eudora Investment Funds ICAV;
(ii) Pantheon Master Fund Plc;
(ii) Prytania Alternative Credit Opportunities DAC
Additionally, PIA also manages Separate Managed Accounts in the UK and US.
Eudora Investment Funds ICAV has five active sub-funds: the Galene fund (“Galene”), the
Plutus CLO Fund (“Plutus”) and three Funds-of-One under the same structure, the Prytania
Opportunistic Credit Fund (“POC”), the TTOC Fund and the Auxano Fund.
The Eudora Investment Funds ICAV is a Qualifying Investor Alternative Investment Fund
(“QIAIF”) and an Umbrella Fund with Galene listed on the Irish Stock exchange.
Galene: Galene was launched in June 2012 with a seed investment of $65 million.
Galene is a low to medium risk fund and invests in a portfolio of investment-grade
bonds of new and existing structured finance transactions.
Plutus CLO: Plutus was launched in June 2020 with a seed investment of $52m. This
Fund is designed to capture the high risk-adjusted
returns available from leveraging
senior CLO tranches in the US, the UK and Europe.
Pantheon Master Fund Plc, a special purpose (S110) vehicle listed on the Irish Stock
Exchange with one active sub-fund Series, the Pantheon Master Fund Plc - Athena Series
2008-1 fund (“Athena”).
Athena: Athena was established in May 2008 and the strategy and structure of
Athena is akin to being a diversified global credit opportunities fund, focused on
structured financial assets. Athena is managed as a higher risk/higher return fund.
Collectively, Galene , Plutus and Athena will be referred to as the “Funds” in this document.
The Firm manages the Funds in accordance with the investment objectives and limitations
set forth in each Fund’s respective confidential Prospectus and Fund Supplement, as
applicable (“Offering Documents”), and the investment management agreement between the
Firm and each Fund (“Investment Management Agreements”) (collectively, the Offering
Documents and the Investment Management Agreements are referred to herein as the
“Governing Documents”). The descriptions set forth in this Brochure of the advisory
services that PIA offer to the Funds, and investment strategies pursued and investments
made by us on behalf of the Funds, should not be understood to limit the Firm’s
investment activities. Subject to each Fund’s investment objectives and guidelines as set forth
in the Governing Documents, the Firm may, in its full discretion, offer any advisory services,
engage in any investment strategy and make any investment, including any not described in
this Brochure, that we consider appropriate.
The Firm does not tailor advisory services to the Funds. Information about the Funds,
including their investment objectives and strategies, is set forth in their respective governing
documents. Since we do not provide individualized advice to the investors of Galene, Plutus
and Athena , such investors should consider whether the investment objectives of the Funds
are in line with their individual objectives and risk tolerance prior to investment.
The Funds-of-One and Managed Accounts have the provisions for the investor to apply
specific limitations or restrictions in regards to the strategy employed.
The Firm does not currently participate in wrap fee programs.
As at 31 March 2022, the Firm manages globally $2,207,627,927 of client assets on a
discretionary basis.