Overview
A. General Description of Advisory Firm
Advantage Advisers Management, LLC ("AAM") was formed on October 29, 1997. AAM
provides general advisory and management services pooled investment vehicles.
AAM acts as investment adviser to funds (as listed below) and provides investment advisory
services primarily with the assistance of employees of Oppenheimer Asset Management Inc. (the "Sponsor"
or "OAM"), including investment professionals who manage the assets of the fund assets and investments
(the "Investment Professionals").
OAM, managing member of AAM, is an SEC registered investment adviser. OAM is an indirect
wholly owned subsidiary of Oppenheimer Holdings Inc. ("OPY"), a publicly traded company listed on the
New York Stock Exchange ("NYSE"), and controlled by Albert G. Lowenthal, who controls greater than
50% of the voting securities of OPY.
AAM has retained Oppenheimer & Co. Inc. ("Oppenheimer"), an affiliate of AAM, to provide
administration services to the Fund. Oppenheimer sub delegates to BNY Mellon Investment Servicing
(US) Inc. (“BNY”) certain administrative functions. Accordingly, the management fees described below
are paid to Oppenheimer and not to AAM.
Alkeon Capital Management, LLC (“Alkeon”) serves as portfolio manager of Advantage Advisers
Global Growth, LLC (“Global Growth”) and provides discretionary
management of Global Growth's
portfolio and performs certain administrative services in connection with its role as portfolio manager.
Alkeon is a non-managing member of AAM.
B. Description of Advisory Services
AAM provides advisory services to Global Growth, an equity long/short hedge fund focused on
global growth companies. Global Growth's investment portfolio is managed by investment professionals
employed by Alkeon under the supervision of OAM.
AAM provides advisory services to Advantage Advisers Tax Exempt High Income Fund I, LLC
and Advantage Advisers Tax Exempt High Income Fund II, LLC (together the “TE Funds”). The TE
Funds were launched in November 2013. Principal Street serves as the sub-advisor to the TE Funds
pursuant to the terms of a sub-advisory agreement (the “Sub-Advisory Agreement”) among the AAM, Sub-
Advisor and the TE Funds effective October 1, 2016.
Global Growth and the TE Funds are collectively referred to as the “Funds” herein.
AAM does not offer customized services for the Funds. Investors purchase units in the Fund and
investments are made at the fund level, not for individual investors in the Funds.
Assets under Management
As of December 31, 2023 AAM managed $[] of Fund client assets on a discretionary basis. AAM did not
manage any client assets on a non-discretionary basis.