ADVISORY BUSINESS
Compass Rose Asset Management, LP (“Compass Rose”) was legally formed in September
2017. The firm’s headquarters is located in New York, New York. The principal ultimate
owners of Compass Rose are Brian Riano, Sean Fahey, and Jason Roche. Compass Rose is an
investment adviser registered with the SEC. Compass Rose serves as the investment adviser for
two private pooled investment vehicles (the “Funds”) that is offered to investors on a private
placement basis and certain separately managed accounts. In this document, references to
Compass Rose’s “Clients” include the Funds and any other separately managed accounts that
Compass Rose is engaged to manage, as applicable. Unless otherwise expressly stated herein,
the term “Clients” does not include investors. The Funds may be structured as Delaware limited
partnerships, Cayman Islands exempted limited partnerships and/or Cayman Islands exempt
limited companies.
Compass Rose currently provides investment advisory services to the following Funds:
Claren Road Credit Partners, LP, a Delaware limited partnership (the “Onshore Credit
Fund”); Claren Road Credit Fund, Ltd., an exempted company organized and existing
under the laws of the Cayman Islands (the “Offshore Credit Fund” and with the Onshore
Credit Fund, the “Credit Feeder Funds”); and Claren Road
Credit Master Fund, Ltd.,
an exempted company organized and existing under the laws of the Cayman Islands
(the “Credit Master Fund”, and together with the Onshore Credit Fund and the Offshore
Credit Fund, the “Credit Funds”). Both Credit Feeder Funds invest all of their assets in
the Credit Master Fund. Compass Rose GP, LLC (the “General Partner”), a Delaware
limited liability company and an affiliate of Compass Rose, serves as the general partner
of the Onshore Credit Fund.
The Credit Feeder Funds shall be collectively referred to herein as “Feeder Funds”.
Compass Rose also currently serves as investment adviser to three separately managed
accounts.
Compass Rose makes investments for the Credit Master Fund in accordance with the
investment objectives and guidelines as set forth in the offering memorandum of the Onshore
Credit Fund and Offshore Credit Fund, respectively, and such investments consist primarily of
fixed income instruments and their derivatives, including bonds, loans and convertibles, as well
as private instruments.
Compass Rose does not expect to participate in any wrap fee programs.
Compass Rose manages on a discretionary basis approximately $12,351,533,040 of regulatory
assets under management as of December 31, 2023.
Compass Rose will not manage any assets on a non-discretionary basis.