Adage Capital Management, L.p.

Adage Capital Management, L.P. is a Boston-based firm established in 2001 by managing directors Bob Atchinson and Phill Gross. The firm specializes in providing investment advisory services to its sole client, Adage Capital Partners, L.P. (ACP), a private investment fund. Adage Capital Management does not manage separate accounts and primarily focuses on industry-specific portfolios managed by analyst/portfolio manager teams. The firm's investment strategy involves long positions, leverage, short sales, derivatives, and investments in U.S. and non-U.S. equity securities. ACP investors are limited partners who share gains and losses proportionally to their investment. The minimum investment in ACP is typically $10,000,000, but this amount can be reduced at the firm's discretion. Adage Capital Management has net assets under discretionary management of $46,412,475,712 as of December 31, 2024. The firm is a fiduciary and has investment discretion over ACP's assets. Adage Capital Management does not participate in wrap fee programs and charges management fees paid directly by ACP quarterly in advance. The firm has a Code of Ethics in place, a proxy voting policy, and participates in class actions related to ACP's holdings. Adage Capital Management has not faced any financial difficulties or bankruptcy petitions in the past ten years.