9AT: TOWER BAY ASSET MANAGEMENT LP

other names

TOWER BAY ASSET MANAGEMENT LP

Adviser Profile

As of Date	05/09/2025
ADV Location	NEWTOWN, PA, United States
Adviser Type - Large advisory firm
Number of Employees	10 43%
of those in investment advisory functions	5
Registration	SEC, Approved, 11/05/2021

AUM^*	492,379,997 24%
of that, discretionary	492,379,997 24%
Private Fund GAV^*	209,227,257 8%
Avg Account Size	70,340,000 -47%
SMA’s	No
Private Funds	4 3
Contact Info	203 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$209,227,257

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser SPARK INVESTMENT MANAGEMENT LLC	Hedge Fund417.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV417.7m	AUM417.7m	#Funds3
Adviser CARL MARKS MANAGEMENT COMPANY, LLC	Hedge Fund293.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV293.6m	AUM391.1m	#Funds4
Adviser DG CAPITAL MANAGEMENT, LLC	Hedge Fund452.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV452.0m	AUM489.4m	#Funds4
Adviser THREE BRIDGES CAPITAL, LP	Hedge Fund92.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV92.0m	AUM97.5m	#Funds3
Adviser RHINO INVESTMENT PARTNERS, INC.	Hedge Fund268.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV268.0m	AUM624.6m	#Funds4
Adviser IMPERIAL CAPITAL ASSET MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM393.7m	#Funds-
Adviser SAGE ROCK CAPITAL MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM86.5m	#Funds-
Adviser EQUITAS CAPITAL ADVISORS,LLC	Hedge Fund45.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV45.0m	AUM201.4m	#Funds1
Adviser BEACONLIGHT CAPITAL, LLC	Hedge Fund363.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV363.5m	AUM528.5m	#Funds4
Adviser SELDON CAPITAL LP	Hedge Fund413.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV413.4m	AUM536.3m	#Funds3

Brochure Summary

Overview

Tower Bay Asset Management LP (“Tower Bay”), a Delaware limited partnership, was founded by Mr. William Hauf and Mr. Keith Friedman in September 2021. Tower Bay offers investment management services on a discretionary and non-discretionary basis to onshore and offshore pooled investment vehicles (“Funds”), private funds subject to an offering made pursuant to exemptions provided in the securities act of 1933 and rules thereunder (“Private Funds”) and separate managed accounts (“Managed Accounts”) (and together “Client(s)”). Tower Bay primarily offers advice on fixed income securities, including, but not limited to, municipal bonds and corporate bonds and loans. To a lesser extent, Tower Bay also offers advice, for hedging purposes and investment, on both exchange-traded and over-the-counter equity securities, commercial paper, United States government securities, futures and options contracts. Tower Bay sponsors and currently provides investment management services on a discretionary basis to the Tower Bay Municipal Bond Opportunity Master Fund L.P. (the "Municipal Bond Fund”) and may offer other Private Funds to investors in the future. Tower Bay’s Municipal Bond Fund is organized in a master-feeder structure. The Municipal Bond Fund investor base is limited to qualified investors who meet the definition

of an “accredited investor” under Rule 501 of Regulation D of the Securities Act. Tower Bay also serves as sub-advisor to segregated portfolios of unaffiliated Private Funds and Funds which qualifies as an Undertaking for Collective Investments in Transferable Securities (a “UCITS”), that are sponsored by unaffiliated, SEC registered investment advisers. Tower Bay offers advisory services to Managed Accounts and unaffiliated Private Funds in accordance with the investment objectives as specified in the pertinent sub-advisory or investment management agreements with the Client. Tower Bay and/or an affiliate may also present co-investment opportunities to prospective investors or enter individual consulting contracts with Clients. Tower Bay tailors its advisory services to the investment objectives of its Clients. In general, for any underlying investors of a Fund or a Private Fund, the investors may not impose restrictions on investing in certain securities or types of securities. Mr. William Hauf and Mr. Keith Friedman are the principal owners of Tower Bay. As of February 29, 2024, Tower Bay manages $413,819,838 in regulatory assets under management on a discretionary basis. Tower Bay also manages a non-discretionary account that has zero regulatory assets under management as of February 29, 2024.

TOWER BAY ASSET MANAGEMENT LP

Adviser Profile

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Compensation Arrangments

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Overview