Overview
400CM was founded in October of 2008 and is organized as a Delaware limited liability
company. 400CM has its principal place of business in New York, New York. Chris
Hentemann is the managing member and principal owner of 400CM. Please see Form ADV
Part 1, Schedule A for additional information on 400CM’s current ownership.
400CM provides discretionary investment advisory services to privately offered pooled
investment vehicles (each, a “Fund” and collectively, the “Funds”), both directly as the
adviser and as a sub-adviser (such Funds for which 400CM acts as sub-adviser, the “Sub-
Advised Funds”). References herein to Funds include Sub-Advised Funds unless Sub-
Advised Funds are referred to separately or the context indicates otherwise. The Adviser
also manages separate accounts for select institutional clients (“Managed Account
Clients”). Collectively, the Funds and Managed Account Clients are referred to as the
“Client Accounts.”
Investment advisory services are provided directly to the Funds and not to investors
in the
Funds. Accordingly, such services are tailored to each Fund’s investment objectives,
strategies and guidelines as described in the respective Fund’s offering documents. 400CM
provides investment advisory services to its Managed Account Clients in accordance with
each client’s respective investment management agreement and the investment objectives,
strategies and guidelines set forth in the respective investment management agreement.
400CM does not participate in wrap fee programs.
400CM generally invests across residential and commercial mortgage loans and securities
(RMBS and CMBS), consumer loans and asset-backed securities (ABS), other structured
credit products and corporate assets, related performing and distressed portfolios and
derivatives. A more detailed description of the services and strategies is available in “Item
8: Methods of Analysis, Investment Strategies and Risk of Loss.”
As of December 31, 2023, 400CM had approximately $5.9 billion net assets under
management, all of which are managed on a discretionary basis.