Warana Capital, LLC (“Warana Capital” or the “Firm”) is a registered investment adviser with the U.S. Securities and Exchange
Commission (“SEC”) and is organized as a limited liability company under the laws of the State of Delaware. The Firm was
founded in June 2016 and is primarily owned by Mr. Timothy Ivers, Managing Member. This Brochure provides information
regarding the qualifications, business practices, and the advisory services provided by Warana Capital.
Warana Capital provides investment management and related services to underlying investors through domestic and
offshore private fund vehicles (each a “Fund” and collectively the “Funds”), as well as a foreign, exchange listed investment
trust (together with the Funds, the “Clients”).
The Firm may utilize a variety of investment strategies, including, without limitation, private equity, blended structured
equity, long/short strategies, distressed and value debt securities investment strategies, relative value strategies, event-
driven or opportunistic strategies and private credit and direct investing and/or lending strategies. Generally, the majority
of the investments targeted for acquisition are interests of private funds or fund of funds that are gated, suspended,
otherwise not-redeemable, or represent illiquid investments or interests in special purpose vehicles that have been formed
to liquidate assets (e.g., related to side pockets or interests in funds that are in the process of winding down). Typically, these
positions are expected to naturally liquidate gradually over time. The Firm may also identify investments in redeemable fund
interests, interests in publicly-traded funds, other liquid fund interests, portfolio investments which are not in liquidation, a
wide variety of other securities and financial instruments, including structured joint ventures, private debt and equity
transactions, and securitizations involving private investment fund interests. On a selected basis, Warana Capital may make
direct investments.
Warana Capital manages the Clients in accordance with the investment objectives outlined in each Client’s Confidential
Private Placement Memorandum and/or Investment Management Agreement. Investment advice is provided directly to the
Client and not tailored to individual investors.
As of December 31, 2023, Warana Capital manages approximately $454,400,000 in assets, all of which are on a discretionary
basis. The Firm does not manage any assets on a non-discretionary basis.