ADVISORY BUSINESS
A. General Description of Advisory Firm.
QVT Financial LP (the “Adviser”), a Delaware limited partnership with offices in New
York, was formed on June 18, 2003. The principal owners are QVT Financial GP LLC,
Daniel Gold, Nicholas Brumm, Arthur Chu and Tracy Fu (Messrs. Gold, Brumm, Chu
and Fu together, the “Managing Members”).
The Adviser and its affiliates (the “Affiliates”) (the Adviser and its Affiliates are
sometimes collectively referred to as the “Advisers”) provide administrative and/or
investment management services to U.S. limited partnerships, non-U.S. limited
partnerships and non-U.S. corporations (collectively, the “Private Funds”) based on their
respective investment objectives. Certain Advisers serve as the general partner to those
Private Funds that are formed as U.S. limited partnerships or non-U.S. limited
partnerships. Persons reviewing this Form ADV Part 2A should not construe this as an
offering of any of the Private Funds described herein, which will only be made pursuant
to the delivery of a private placement memorandum to prospective investors.
As of the date hereof, the Advisers provide administrative and/or investment management
services to the following Private Funds:
• QVT Family Office Offshore LP, a Cayman Islands exempted limited partnership
(“QVT FO Offshore”),
• QVT Family Office Offshore II LP, a Cayman Islands exempted limited partnership
(“QVT FO Offshore II”),
• QVT Family Office Onshore LP (formerly known as QVT V Onshore LP), a
Delaware limited partnership (“QVT FO Onshore”),
• QVT Family Office Fund LP (formerly known as QVT Fund V LP), a Cayman
Islands exempted limited partnership (“QVT FO” and together with QVT FO
Offshore, QVT FO Offshore II and QVT FO Onshore, the “Family Office Funds”),
• QVT SLV Offshore Ltd., a Cayman Islands exempted
company (“SLV Offshore”),
• QVT SLV Offshore II LP, a Cayman Islands exempted limited partnership (“SLV
Offshore Fund”),
• QVT SLV Onshore Ltd., a Cayman Islands exempted company (“SLV Onshore”),
• QVT SLV Onshore II LP, a Delaware exempted limited partnership (“SLV Onshore
Fund”),
• QVT Series Holdings LP (multiple series), a Delaware series limited partnership
(“QVT Series Holdings” and together with SLV Offshore, SLV Offshore Fund, SLV
Onshore and SLV Onshore Fund, the “Special Liquidity Vehicles”),
• QVT Roiv Hldgs Onshore Ltd., a Cayman Islands company (“Roiv Onshore”),
• QVT Roiv Hldgs Offshore Ltd., a Cayman Islands company (“Roiv Offshore” and
together with Roiv Onshore, the “Roiv Funds”),
• Fourth Avenue Capital Partners LP, a Delaware limited partnership (“Fourth
Avenue”), and
• Fourth Avenue FF Opportunities LP (multiple series), a Delaware series limited
partnership (“Fourth Avenue FF” and together with Fourth Avenue Capital, the
“Fourth Avenue Funds”).
The Private Funds other than the Proprietary Funds (as defined in Item 11) may be
referred to as “Clients.”
B. Description of Advisory Services.
Please see Item 8.
C. Availability of Customized Services for Individual Clients.
The Advisers' investment decisions and advice with respect to each Private Fund are
subject to each Private Fund's investment objectives and guidelines, as set forth in its
offering documents or organizational documents.
D. Wrap Fee Programs.
The Adviser does not participate in wrap fee programs.
E. Assets Under Management.
The Adviser manages approximately $2,015,193,599, which is the aggregate net asset
value of the Private Funds as of December 31, 2023, on a discretionary basis. As of
March 29, 2024, the Adviser does not manage any assets on a non-discretionary basis.