Eos Management, L.P., a Delaware limited partnership founded in May 2007
became registered with the SEC as an investment adviser on March 25, 2012. It
should be noted that Eos Management, L.P. is affiliated with the following two
investment advisers: Eos Management, LLC, a Delaware limited liability
company founded in August 1993; and ECO Management, L.P., a Delaware
limited partnership founded in August 2005. All three of these investment
advisers have the same principal office/place of business and are directly
controlled by Steven M. Friedman and Brian D. Young. As such, information
pertaining to Eos Management, LLC and ECO Management, L.P. can be found in
the Form ADV Part 1 for Eos Management, L.P. as well as in this ADV Part 2A.
Eos Management, L.P., Eos Management, LLC and ECO Management, L.P.
(collectively referred to herein as “Eos”) are each subject to the Advisers Act (as
defined below) and the same Compliance Manual and Code of Ethics.
Eos provides discretionary investment advisory services including, but not limited
to, managing and directing the investment and reinvestment of assets for private
investment funds (each a “Fund” and together the “Funds”) and separately
managed accounts (together with the Funds, the “Advisory Clients”) as further
detailed below:
Eos Management, LLC serves as investment manager to the following
private investment funds:
Eos Partners, L.P. (“Eos Partners”), a Delaware limited partnership whose
managing general partner is Eos General, L.L.C., a Delaware limited
liability company.
Eos Management, L.P. serves as investment manager to the following private
investment funds:
ECP Helios Partners III, L.P. (“Helios III”), a Delaware limited
partnership whose general partner is Eos Hyperion GP, LLC., also a
Delaware limited partnership. This Fund is no longer accepting new
Investors.
ECP Helios Partners IV, L.P. (“Helios IV”), a Delaware limited
partnership whose general partner is Eos Hyperion GP, LLC, also a
Delaware limited partnership. This Fund is no longer accepting new
Investors.
Eos Hyperion Partners, L.P. (“Hyperion”), a Delaware limited partnership
whose general partner is Eos Hyperion GP, LLC, also a Delaware limited
partnership. This Fund is no longer accepting new Investors.
Eos Hyperion Partners II, L.P. (“Hyperion II”), a Delaware limited
partnership whose general partner is Eos Hyperion GP II, LLC, also a
Delaware limited partnership. This Fund is no longer accepting new
Investors.
ECO Management, L.P. serves as investment manager to the following
private investment funds:
Eos Credit Opportunities, L.P, a Delaware limited partnership, Eos Credit
Opportunities Offshore Limited, a Cayman Islands exempted company
and ECO Master Fund Limited, a Cayman Islands exempted company
(collectively, the “ECO Funds”). Both Eos Credit Opportunities, L.P. and
Eos Credit Opportunities Offshore Limited invest substantially all of their
assets in ECO Master Fund Limited. ECO General L.L.C., a Delaware
limited liability company serves as general partner to Eos Credit
Opportunities, L.P.
Certain investments held by one or more Funds may be held indirectly
through
one or more special purpose vehicles (“SPVs”) formed by Eos or its affiliates.
One or more other affiliates of Eos may act as general partner, manager, or
managing member of such SPVs.
Steven M. Friedman and Brian D. Young are the beneficial owners of each of Eos
Management, L.P., Eos Management, LLC and ECO Management, L.P.
Each Eos investment manager generally has broad and flexible investment
authority with respect to the Funds that it manages. The Funds managed by Eos
employ various directional and hedged strategies which are specifically described
in each Fund’s respective confidential private placement memorandum and are
summarized in Item 8.A. below.
Eos Management, LLC and Eos Management, L.P. each primarily offer
investment advice on equity-oriented investments in privately and publicly
negotiated transactions. ECO Management, L.P. primarily offers investment
advice on fixed income securities, bank debt, equities, various special situations,
corporate bonds and other income producing securities.
As a general matter, Eos neither tailors its advisory services to the individual
investors needs within its Funds (“Investors”), nor accepts Investor-imposed
investment restrictions. When deemed appropriate, Eos may establish one or
more separately managed accounts, which may (i) tailor their investment
objectives to specific Investors and/or (ii) be subject to different terms and fees
than those of the Funds. Such investment objectives, fee arrangements and terms
will be individually negotiated, and it should be noted that any such separately
managed account relationships would generally be subject to significant account
minimums. In addition, certain Funds offer classes of interests that may restrict
the types of investments allocated to Investors in such classes.
In addition, it should be noted that Eos has in the past and may again in the future
enter into separate agreements with certain Investors, such as those affiliated with
Eos or those Investors with which Eos has established a significant or strategic
relationship, to waive certain terms or grant such Investors more favorable rights
than those described in the Funds’ governing documents. Such terms may
include, without limitation, the waiver, reduction or rebate of fees, the provision
of additional information or reports and co-investment opportunities.
Eos does not participate in wrap fee programs.
As of December 31, 2023, Eos Management, L.P. manages approximately
$718,617,570 of regulatory assets under management on a discretionary basis.
Eos Management, L.P. does not currently manage any regulatory assets under
management on a non-discretionary basis.
As of December 31, 2023, Eos Management, LLC manages approximately
$573,672,746 of regulatory assets under management on a discretionary basis.
Eos Management, LLC does not currently manage any regulatory assets under
management on a non-discretionary basis.
As of December 31, 2023, ECO Management, L.P. manages approximately
$172,113,795 of regulatory assets under management on a discretionary basis.
ECO Management, L.P. does not currently manage any regulatory assets under
management on a non-discretionary basis.