Overview
CCM is a Delaware limited partnership that was formed in May 2002. It provides
discretionary investment advice to certain funds, as further described below. Corsair
Capital Advisors, L.L.C. (“CCA”), Corsair Select Advisors, L.L.C. (“CSA”), and Corsair
Operations Management, L.P. (“COM”), which are relying advisers (as defined in the
Glossary of Terms to Form ADV) of CCM, also provide investment advice on a
discretionary basis to certain funds in their capacities as general partner, special member
or operations manager to such funds, as applicable. CCM, CCA, CSA, and COM are
collectively referred to as “Corsair” throughout this brochure.
The principal owners of Corsair are Jay R. Petschek and Steven Major. Mr. Petschek and
Mr. Major are also referred to as the “Portfolio Managers” throughout this brochure.
Corsair currently serves as the investment manager/adviser of the following clients:
• Private investment funds:
- Corsair Capital Partners, L.P., Corsair Capital Partners 100, L.P., Corsair
Capital Investors, Ltd. (collectively, the “Corsair Capital
Funds”)
- Corsair Select, L.P., Corsair Select 100, L.P., Corsair Select Offshore, Ltd. and
Corsair Select Master Fund, Ltd. (collectively, the “Corsair Select Funds” and
together with the Corsair Capital Funds, the “Private Funds” or the “clients”)
Corsair may in the future manage other pooled investment vehicles or accounts (including
separately managed accounts).
From 1991 to 2002, Mr. Petschek, either directly or separately through an entity he
controlled, managed a predecessor-in-interest to Corsair Capital Partners, L.P. From 1998
to 2004, Mr. Major, either directly or through an entity he controlled, managed a
predecessor-in-interest to Corsair Select, L.P. All of the other Private Funds have been
managed by Corsair since inception.
Corsair generally invests with a long-bias primarily in publicly-traded equity securities of
U.S. and Canadian corporations. (See Item 8.)
As of February 28, 2024, Corsair managed approximately $498,104,723 of regulatory
assets under management on a discretionary basis. Corsair does not manage any assets on
a non-discretionary basis.