TOWER BAY ASSET MANAGEMENT LP

other names
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Adviser Profile
As of Date 05/14/2024
Adviser Type - Large advisory firm
Number of Employees 9 28.57%
of those in investment advisory functions 4 -20.00%
Registration SEC, Approved, 11/5/2021
AUM* 437,819,838 10.44%
of that, discretionary 437,819,838 10.44%
Private Fund GAV* 194,442,692 16.33%
Avg Account Size 145,939,946 10.44%
SMA’s No
Private Funds 1
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

Recent News

Reported AUM

Discretionary
Non-discretionary
396M 340M 283M 227M 170M 113M 57M
2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count1 GAV$194,442,692

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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.