ADVISORY BUSINESS
Jet Capital Investors, L.P. ("Jet Capital"), a Delaware limited partnership, has
been providing investment management services to private investment funds that are offered
to investors on a private placement basis since 2002. Matthew Mark and Alan S. Cooper are
the principal owners of Jet Capital. Currently, Jet Capital provides investment management
services to Jet Capital Concentrated Fund, L.P. (the "Concentrated Domestic Fund") and Jet
Capital Concentrated Offshore Fund, Ltd., a Cayman Islands exempted company (the
"Concentrated Offshore Fund") which invests all or substantially all of its assets in the Jet
Capital Intermediate Fund, LP (the “Intermediate Fund”), a Cayman Islands exempted
limited partnership. The Concentrated Domestic Fund and the Concentrated Offshore Fund
directly or indirectly invest in Jet Capital Master Fund, LP (the "Concentrated Master Fund"
and, together with the Concentrated Domestic Fund, Concentrated Offshore Fund and the
Intermediate Fund, the "Concentrated Funds"), a Cayman Islands exempted limited
partnership. Jet Capital Management, L.L.C. (the "General Partner") serves as the general
partner to the Concentrated Domestic Fund, Intermediate Fund and Concentrated Master
Fund.
Jet Capital also provides investment management services to Jet Capital Select
Opportunities Fund, L.P. (the "Select Domestic Fund") and Jet Capital Select Opportunities
Offshore Fund, Ltd., a Cayman Islands exempted company (the "Select Offshore Fund")
which invests all or substantially all of its assets in the Jet Capital Select Opportunities
Intermediate Fund, LP (the “ Select Intermediate Fund”), a Cayman Islands exempted limited
partnership. The Select Domestic Fund and the Select Offshore Fund directly or indirectly
invest in Jet Capital Select Opportunities Master Fund, LP (the "Select Master Fund" and,
together with the Select Domestic Fund, Select Intermediate Fund and Select Offshore Fund,
the "Select Funds"), a Cayman Islands exempted limited partnership. The General Partner
serves as the general partner to the Select Domestic Fund, Select Intermediate Fund and
Select Master Funds.
The Concentrated Funds together with the Select Funds are collectively known
as the “Funds”.
In addition, Jet Capital has been appointed as the investment adviser with
discretionary trading authorization and also provides discretionary advisory services for
separately Sub-Advised Fundssub-advised funds (the "Sub-Advised FundsSub-Advised
Funds" and, together with the Funds, the "Clients").
Jet Capital has full discretionary authority with respect to investment
decisions, and its advice is made in accordance with the investment objectives and guidelines
as set forth in each Fund's offering memorandum. Similarly, Jet Capital's investment
decisions and advice with respect to
Sub-Advised Funds shall be in accordance with each
Client's investment objectives and guidelines in each Client's investment management
agreement.
DOC ID - 24022285.3 2
This Brochure does not constitute an offer to sell or solicitation of an offer to
buy any securities. Persons reviewing this Brochure should not construe this as an offer to
sell or solicitation of an offer to buy the securities of any of the Funds described herein. Any
such offer or solicitation will be made only by means of a confidential private placement
memorandum.
Jet Capital, on behalf of its Clients, pursues merger arbitrage, capital structure
arbitrage and event oriented trading strategies. Please see Item 8 for a more detailed
description of Jet Capital's investment strategies. The descriptions set forth in this Brochure
of specific advisory services that Jet Capital offers to Clients, should not be understood to
limit in any way Jet Capital's investment activities. Jet Capital may, in the future, offer any
advisory services, engage in any investment strategy and make any investment that Jet
Capital considers appropriate, subject to each Client's investment objectives and guidelines.
The investment strategies Jet Capital pursues are speculative and entail substantial risks.
Clients should be prepared to bear a substantial loss of capital. There can be no assurance
that the investment objectives of any Client will be achieved.
Business Continuity Plan Activate in response to COVID-19. As of the date of
this Brochure, the Firm continues to operate its business continuity plan in response to
COVID-19. We are taking these steps to protect our employees while ensuring business
continuity:
Restricting non-essential business travel
Recommending employees avoid large, in-person gatherings
Closing our office and requiring our employees to work from home when applicable ,
as requested by state and local authorities
Conducting all client and firm meetings via teleconference or videoconference
Our Business Continuity Plan
Our Firm’s business continuity plan is designed to meet the needs of our clients and minimize
potential disruption in services during an emergency or disaster. The protocols and
capabilities within the plan include:
Sufficient technical infrastructure and network capacity to support employees working
from home in specific areas, or companywide
Secure, remote access for all employees
Tele & Videoconference capability in place for employees
Redundancy capabilities within each of our business units
Jet Capital manages approximately $360 million in assets as of December 31,
2022 on a discretionary basis, which is determined based on the net asset value of the Funds
and Sub-Advised Funds under management. Jet Capital does not manage any assets on a
non-discretionary basis as of December 31, 2022.
DOC ID - 24022285.3 3