Overview
General Description of Advisory Firm
Drake Capital Advisors LLC (Drake Capital) was organized as a limited liability company under the
laws of the State of Delaware in 2001 and has offices in Greenwich, Connecticut. Drake Capital
is wholly owned by David B. MacFarlane, the managing member, and Ray Gustin IV.
Description of Advisory Services
Drake Capital provides discretionary investment portfolio management services for client
accounts, including collective investment vehicles of which Drake Capital is the general partner.
Drake Capital provides discretionary portfolio management services to Drake Capital Partners,
L.P., Drake Capital Offshore Partners, L.P., Drake Capital Partners II, L.P., and Drake Capital
Offshore Partners II, L.P., which are private investment funds offered to institutional investors
and high net worth, financially sophisticated individual investors. Each of these investment funds is
called a Fund, and together they are called the Funds. Drake Capital Offshore Partners, L.P., is a
feeder fund that invests substantially all its assets in Drake Capital Partners, L.P., a master fund,
and Drake Capital Offshore Partners II, L.P., is a feeder fund that invests substantially all its assets
in Drake Capital Partners II, L.P., a master fund. Drake Capital Partners, L.P., and Drake Capital
Partners II, L.P., are sometimes referred to as the Master Funds or Funds in this brochure. Drake
Capital also provides portfolio management services to separately managed accounts, which are
called the Accounts.
In general, the assets of each Master Fund and the Accounts are invested in portfolio funds and
separate accounts managed by investment managers selected by, but not affiliated with, Drake
Capital. Each of these investment managers is called an Investment Manager in this brochure.
Drake Capital generally manages the assets of its clients on a fully discretionary basis. Drake
Capital does not call any of the services that it provides financial planning or some similar term.
Availability of Tailored Services for Individual Clients
Drake Capital manages the Funds in an effort to meet the broad investment objectives of Fund
clients. As well, Drake Capital tailors its investment advice to meet the particular needs,
investment objectives and investment guidelines of each of its Account clients. Drake Capital will
work with an Account client to evaluate its investment objectives so that customized
investment advice may be rendered.
Client Assets Under Management
As of December 31, 2023, Drake Capital managed approximately $652,894,000 of regulatory
assets under management, all on a discretionary basis.