Foxhaven is a limited partnership organized under the laws of the State of Delaware to provide
investment management services to several related pooled investment vehicles. Formed in April
2013, Foxhaven is owned and controlled by Michael Pausic and Nicholas Lawler (the “Principals”).
The investment activities of Foxhaven are led by the Principals together with other investment
professionals who assist in executing the investment strategy. Foxhaven’s officers, Principals,
partners, employees, and other persons who provide investment advice on behalf of Foxhaven and
are subject to Foxhaven’s supervision and control are herein referred to as (the “Employees”).
Foxhaven serves as an investment manager and provides discretionary advisory services to several
related collective investment vehicles, including private investment partnerships and foreign
investment companies organized as a master-feeder structure and private investment partnerships
investing in parallel therewith (each, a “Fund” or “Client” or collectively the “Funds” or “Clients”).
Foxhaven serves as investment manager to a master fund, and substantially all investing by the
master fund and any feeder funds will be done at the master fund level. Typically, within each
partnership structure is a designated general partner or manager (the “General Partner(s)”). Unless
and only to the extent that the context otherwise requires, references to Foxhaven includes the
General Partner(s).
In providing services to the Funds, among other things, Foxhaven (i) manages the Funds’ assets in
accordance with the terms of the confidential offering and/or private placement memoranda,
individual limited partnership or shareholder agreements and other governing documents applicable
to each Fund (the “Governing Documents”); (ii) formulates investment objectives; (iii) directs and
manages the investment and reinvestment of the Funds’ assets; and (iv) provides periodic reports to
Investors. Foxhaven provides investment advice directly to the Funds and not individually to a
Fund’s limited partners or investors (the “Investors”). Investment
restrictions for the Funds, if any,
are generally established in the applicable Fund’s governing documents.
The investment objective of the Funds is to achieve superior risk-adjusted absolute returns over a
horizon of three or more years. The Funds plan to pursue the investment objective through investing
all or substantially all of their assets in, or in parallel with, the master fund. The master fund intends
to pursue a fundamental long-short equity strategy with a global focus on the TMT, consumer and
industrials sectors.
From time to time, the Fund may, to the extent permitted by the Rules of the U.S. Financial Industry
Regulatory Authority (“FINRA”) as may be amended from time to time (the “Rules”), purchase
equity securities that are part of an initial public offering (sometimes referred to as “IPOs” or “new
issues”). Under the Rules, brokers may not sell such securities to a private investment fund, if the
fund has Investors who are “Restricted Persons”, which category includes persons employed by or
affiliated with a broker and portfolio managers of hedge funds and other registered and unregistered
investment advisory firms, unless the fund has a mechanism in place that excludes such Restricted
Persons from receiving allocations of profits from new issues. The profits and losses with respect
to new issues will generally be allocated to Investors in the Fund that are eligible to receive new
issue allocations.
Shares or limited partnership interests in the Funds are not registered under the U.S. Securities Act
of 1933, as amended (the “Securities Act”), and the Funds are not registered under the Investment
Company Act of 1940, as amended (the “Investment Company Act”). Accordingly, interests or
shares in the Funds are offered and sold exclusively to Investors satisfying the applicable eligibility
and suitability requirements, either in private transactions within the United States or in offshore
transactions.
As of December 31, 2023, Foxhaven had $5.607 billion in regulatory assets under management, all
of which are managed on a discretionary basis.