Overview
SATURN V is a Delaware limited partnership originally formed in March 2021 as a Delaware
limited liability company and reorganized as a Delaware limited partnership in September 2023.
SATURN V’s founder, controlling owner and primary portfolio manager is Xiaoying Tian.
Although SATURN V may manage additional client accounts in the future, it currently provides
discretionary advisory services to (1) Saturn V Capital, L.P., a Delaware limited partnership (the
“Master Fund”), and (2) Blackwell Partners LLC – Series A, a Delaware limited liability company
(“Blackwell”). The Master Fund operates as the Master Fund in a “mini-master” structure. The
Master Fund is available for investment primarily by U.S. taxable investors that directly invest in
the Master Fund as limited partners. These direct investors are “qualified purchasers” so that the
Master Fund can be excluded from the definition of an “investment company”
under section 3(c)(7)
of the Investment Company Act of 1940 (“ICA”). The Master Fund’s offshore feeder fund that also
invests as a limited partner is Saturn V Capital Offshore Ltd. (the “Offshore Feeder Fund”), a
Cayman Islands exempted company and, together with the Master Fund, the “Funds”. The Offshore
Feeder Fund invests substantially all of its assets in the Master Fund.
The Offshore Feeder Fund is available for investment primarily by non-U.S. investors and U.S. tax-
exempt investors that are “qualified purchasers” so that it can rely on ICA section 3(c)(7).
Blackwell is a “fund of one” and is not available to other investors. Blackwell’s investor is a
“qualified purchaser” and relies on ICA section 3(c)(7).
As of December 31, 2023, SATURN V managed on a discretionary basis, approximately
$400,282,991 of client assets. SATURN V does not manage any assets on a non-discretionary basis.