Formation Capital was organized in 1999 in the State of Pennsylvania as a limited liability company and
was re-domesticated in 2007 in the state of Georgia. As of January 2020, Formation Capital is 99% owned
by HCCF Management Group, Inc. and 1% owned by Arnold Whitman. HCCF Management Group, Inc.
is 100% owned by Arnold Whitman.
Our Services
Formation Capital, through various entities owned by, controlled by, or under common control with
Formation Capital (each an “Affiliate”), provides investment advisory and asset management services to
pooled investment vehicles (the “Funds”). Formation Capital predominately focuses on seniors housing,
post-acute, and health care investments.
Asset management and investment management services are tailored to each individual Fund. Primary
asset management functions generally include, but are not limited to, financial reporting, loan compliance,
capital expenditure management, facility inspections, operator meetings, legislative review, and asset
reporting. In addition, investment management services include accounting, tax compliance, treasury
management, capital calls, distributions, investment reporting,
governance, and compliance. Any
restrictions on a Fund’s investments are set forth in its governing documents.
Formation Capital, whether directly or through an Affiliate, is authorized to implement each Fund’s
investment objectives and strategies in accordance with the terms of its governing documents, subscription
agreement, investor memorandum and/or other offering documents (the “Offering Documents”), as may
be amended from time to time. Certain Funds are co-advised by Safanad Inc., an SEC-registered
investment adviser. In addition, each Fund is generally structured such that the asset manager, general
partner, or managing member, as applicable, cannot effectuate major decisions without obtaining written
consent from a majority of the limited partners or members (or the Board of Managers or Investment
Committee of the Fund, as applicable).
Regulatory Assets Under Management
As of December 31, 2022, Formation Capital manages total Fund assets of approximately $496,438,156
all of which are managed on a discretionary basis. The calculation of regulatory assets under management
is based on total invested capital, including leverage.