Overview
Moore Capital Management, LP (“Moore Capital Management”) is a Delaware limited partnership
that, with its predecessor firm, has been in the investment management business since 1989. Moore
Capital Management is principally owned indirectly by Louis Moore Bacon. Mr. Bacon also serves
as Chairman and Chief Executive Officer of Moore Capital Management.
Moore Capital Management, together with certain of its investment adviser affiliates (collectively,
“Moore Group”), provides investment management services on a discretionary basis to U.S. and non-
U.S. privately-offered investment funds sponsored by Moore Group. This brochure provides
information specifically with respect to Moore Group’s Specialty Credit Funds. The Moore Group
manages two Specialty Credit Funds: (i) Moore Asset Backed Fund, and (ii) Moore Specialty Credit
Fund, both of which are closed to new investors (collectively, the “Specialty Credit Funds”).
Moore Group generally will effect the specialty credit strategies through a “master-feeder” fund
structure whereby an onshore fund and an offshore fund invest substantially all of their assets as
“feeder funds” into an offshore master fund and an onshore master fund. For convenience, we will
sometimes refer to each feeder fund, and the master fund(s) in which it invests, as a “Specialty Credit
Fund” and collectively as the “Specialty Credit Funds.” With respect to any particular investment,
the onshore Specialty Credit Fund and the offshore Specialty Credit Fund will invest through the
appropriate master fund depending upon the tax characteristics of the investment. Investors in either
the onshore or offshore Specialty Credit Fund will share in the returns of both master funds. The
General Partner expects that many of the Specialty Credit Funds’ investments will be made through
special purpose vehicles owned by the master funds such that each investment will be owned by a
distinct bankruptcy remote vehicle. The General Partner believes that this structure will allow the
Specialty Credit Funds to finance their investments on a stand-alone basis without impacting other
investments.
Moore ABS Fund GP, LP and Moore SC Fund GP II, LP, each an affiliate of Moore Capital
Management, serve as the General Partners of the respective Specialty Credit Funds (the “General
Partner”) and will make all investment and disposition decisions for the Specialty Credit Funds. The
General Partner will delegate certain aspects of the management of the Specialty Credit Funds to
Moore Capital Management, provided that the management and the conduct of the activities of the
Specialty Credit Funds shall remain the ultimate responsibility of the General Partner, and all
decisions relating to the selection and disposition of the Specialty Credit Fund’s investments shall be
made exclusively by the General Partner.
As of December 31, 2023, Moore Group had approximately $33,202,685,000 in regulatory assets under
management, all managed on a discretionary basis.
Moore Group’s management of each Specialty Credit Fund, and the terms of any investor’s
investment in a Specialty Credit Fund, are governed exclusively by the terms of that Specialty Credit
Fund’s organizational documents, private offering memorandum or other disclosure documents,
limited partnership agreement (if any), investment management agreement, and subscription
agreement (the “governing documents”).
All discussions in this brochure of the Specialty Credit Funds, their investments, the strategies
Moore Group uses in managing the Specialty Credit Funds, and the fees associated with an
investment in the Specialty Credit Funds are qualified in their entirety by reference to the
Specialty Credit Funds’ governing documents. This brochure and the material contained
herein is not meant to be, nor shall it be construed as, an offer or solicitation of an offer for the
purchase or sale an interest in the Specialty Credit Funds.
Information about Moore Group’s management of other private investment funds (“Other Funds”)
is available in a separate brochure. The Specialty Credit Funds and Other Funds are sometimes
referred to in this brochure collectively as the “Funds.”