Emerging Variant Capital Management, LP is a Delaware limited partnership (hereinafter
“Emerging Variant”, “we”, “us”, “our”, the “Firm”, or the “Investment Manager”) founded in
2017. Emerging Variant serves as the investment adviser, with discretionary trading authority to
the following funds: Emerging Variant Partners, LP (the “Onshore Fund”), Emerging Variant
Offshore Fund Ltd. (the “Offshore Fund”), Emerging Variant Latin American Opportunities Master
Fund LP (the “Master Fund”), Emerging Variant Directional Master Fund (the “Directional Master
Fund”), Emerging Variant Directional Fund Ltd. (the “Directional Offshore Fund”), and Emerging
Variant Partners A (the “EVP A Fund”) (collectively referred to herein as the “Funds” or the
“clients”). Emerging Variant GP LLC serves as the General Partner of the Master Fund, Emerging
Variant Partners A GP serves as the General Partner of Emerging Variant Partners A, and Emerging
Variant Directional Fund GP LLC serves as the General Partner of Emerging Variant Directional
Master Fund Ltd (collectively referred to herein as the “General Partners”).
In addition, the Investment Adviser serves as an investment adviser with discretionary trading
authority over a separately managed account (the “Managed Account”).
Santiago Jariton Avila (the “Principal”) is the majority beneficial owner of the Firm, and is the
Managing Member of EV Capital LLC, the General Partner of the Firm.
This Brochure
does not constitute an offer to sell or a solicitation of an offer to buy any securities.
The Funds’ securities are offered and sold on a private placement basis under exemptions
promulgated under the “Securities Act” of 1933 and other applicable state, federal, or non-U.S.
laws. Significant suitability requirements apply to prospective investors in the Funds, including
requirements that they be “accredited investors” as defined in the Securities Act and “qualified
purchasers” as defined in the Investment Company Act of 1940. Persons reviewing this Brochure
should not construe this as an offer to sell or a solicitation of an offer to buy the securities of any
of the Funds described herein. Any such offer or solicitation will be made only by means of a
confidential private placement memorandum.
Our investment decisions and advice with respect to each Fund and the Managed Account are
subject to each Fund’s and the Managed Account’s investment objectives and guidelines, as set
forth in its respective offering documents and investment management agreements.
The investors in the Funds and Managed account are hereafter collectively referred to as the
“Investors”, where appropriate.
We do not currently participate in any Wrap Fee Programs.
As of December 31, 2022, the Firm has regulatory assets under management of $287,277,809on
a discretionary basis.