Overview
A. Wolf Hill Capital Management, LP (the “Firm,” the “Investment Manager” or “Wolf Hill”) was founded
in October 2018 and is organized as a limited partnership under the laws of the State of Delaware. Wolf
Hill’s principal owner is Gary Lehrman, Founder and Chief Investment Officer.
B. Wolf Hill is an investment adviser providing discretionary investment advisory services to a variety of
clients utilizing a long and short investment strategy investing in equity and debt securities of issuers
where the Investment Manager believes it has a margin of safety and a highly asymmetric risk/reward
ratio based on the Investment Manager’s fundamental valuation work. Wolf Hill does not provide
investment advice except for limited types of investments.
Currently, the Firm manages the assets of two privately pooled investment vehicles pursuant to a mini
master investment structure. The Firm’s private pooled investment vehicles are:
Wolf Hill Partners, LP, a Delaware limited partnership (the “Onshore Fund”)
Wolf Hill Offshore Fund, Ltd., a Cayman Islands exempted company (the “Offshore Fund”)
The Offshore Fund invests all or substantially all of its assets in the Onshore Fund, and the Co-Investment
Fund is a stand-alone fund. Collectively, the Onshore Fund, Offshore Fund and Co-Investment Fund are
referred to herein as the “Funds” and each a “Fund.”
In addition,
the Firm engaged two separately managed account clients (“SMA Clients”) serving as the sub-
advisor with discretionary trading authority over the respective separately managed accounts (“SMAs”
and each an “SMA”) pursuant to each separately managed account agreement (each an “SMA Agreement”
and collectively, the “SMA Agreements”).
The Funds and SMA Clients are referred to as “Clients” and each a “Client” where appropriate.
C. The investment services offered by Wolf Hill with respect to each Fund are subject to the terms and
conditions set forth in the offering documentation specific to each of the Funds and are not individually
tailored to the needs of the investors in such Fund. Investors in a Fund generally may not impose
restrictions on the types of securities or investments that are made on such Fund’s behalf.
The investment services offered by Wolf Hill with respect to each SMA are able to be individually tailored
to the needs of such SMA Client and are subject to the terms and conditions set forth in the respective
SMA Agreement. SMA Clients may have their own guidelines and restrictions set forth in each respective
SMA Agreement.
D. We do not currently offer wrap fee programs.
E. Wolf Hill’s regulatory assets under management as of December 31, 2023 were approximately
$1,606,404,000, all of which are managed on a discretionary basis.