Luxor is a Delaware limited partnership that was formed in October 2002. Luxor is principally
owned by Christian Leone. LCG Holdings, LLC; Luxor Venture Partners GP, LLC; Lugard Road
Capital GP, LLC; LCG Growth GP, LLC; GGK Capital GP, LLC; and HNG GP, LLC (each, a
“Relying Adviser”) are affiliates of Luxor, and each is a “relying adviser” as that term is defined
in the Glossary of Terms to Form ADV. The Relying Advisers are principally owned by Christian
Leone, except that in the case of: (i) Lugard Road Capital GP, LLC, Jonathan Green, who is an
employee of Luxor, is a principal owner and Mr. Leone is a principal owner of such Relying
Adviser; (ii) GGK Capital GP, LLC, Carlos Alexander Ryerson, who is an employee of Luxor, is
a principal owner and Mr. Leone is a principal owner of such Relying Adviser; and (iii) HNG GP,
LLC, Michael Conboy, who is an employee of Luxor, is a principal owner and Mr. Leone is a
principal owner of such Relying Adviser. The description of Luxor’s business and activities
throughout this brochure includes the business and activities of the Relying Advisers and Luxor’s
wholly owned subsidiaries.
Luxor provides discretionary investment advice to private investment funds and may also do so for
certain separately managed accounts from time to time. Luxor provides advisory services that can
be characterized as a fundamentally driven and opportunistic approach using multiple strategies to
Luxor Capital Group, LP Form ADV: Part 2A Page 3
invest across the capital structures of U.S. and non-U.S. companies (the “Hedge Fund Approach”).
In the Hedge Fund Approach, Luxor generally trades in a wide variety of securities and financial
instruments, domestic and foreign, of all kinds and descriptions, whether publicly traded or
privately placed. Luxor implements variations of the Hedge Fund Approach for certain of its
clients, including, for example, an increased focus on credit-oriented, asset-oriented and/or event-
oriented situations. Luxor may add to or change its investment approaches over time. Luxor may
also consider implementing additional
strategies in its discretion.
Under certain circumstances, Luxor will contract with a client to adhere to limited risk and/or
operating guidelines imposed by such client. Such arrangements are negotiated on a case by case
basis. (See Item 16 “Investment Discretion.”)
As of December 31, 2023, Luxor’s regulatory assets under management were approximately
$5,204,633,000, all of which are managed on a discretionary basis.
Luxor also provides advisory services that can be characterized as a private-equity related approach
that focuses primarily on private companies (the “Closed-End Approach”). For the Closed-End
Approach, Luxor generally acquires investments through direct or indirect investments in
companies, negotiations with selling shareholders, and in organized secondary marketplaces for
private securities.
From time to time, Luxor advises on a single investment idea when providing Hedge Fund
Approach and/or Closed-End Approach advisory services, which may or may not be also
characterized as a co-investment opportunity with one or more Open-Ended Clients or Closed-End
Clients (each as defined below). When advising on such investment ideas, Luxor will facilitate
various investment structuring options, including creating a new private fund client, a new class of
interests of certain existing private fund clients and/or creating new series or segregated portfolios
of certain existing private fund clients to be utilized solely for the investment idea.
Luxor additionally provides certain other limited advisory services to pooled investment vehicles
related to other investment focuses, including a residential real estate related focus and a land
development related focus.
Clients for which Luxor employs the Hedge Fund Approach are occasionally referred to in this
brochure as the “Open-Ended Clients” where such specification is appropriate in the context.
Similarly, the clients for which Luxor employs the Closed-End Approach are occasionally referred
to in this brochure as the “Closed-End Clients” where such specification is appropriate in the
context.