Granite State Capital Management, Lp

Granite State Capital Management, LP is an investment adviser registered with the SEC, founded in October 2016 in Greenwich, Connecticut. The firm specializes in providing investment advisory services to private investment funds, including leveraged loans. They aim to offer attractive risk-adjusted returns by evaluating factors such as market share, asset coverage, and cash flow generation of corporate borrowers. As of December 31, 2022, the firm manages approximately $514 million in regulatory assets on a discretionary basis. For their services, Granite State charges an annual management fee of 1.5% of assets managed for the funds, along with up to 17.5% of profits generated (carried interest). The firm may also collect assignment fees for purchasing leveraged loans, which are generally waived or paid by the client. Clients are generally private investment funds with a minimum $5 million capital commitment, and the firm may waive this requirement at its discretion. Granite State Capital Management follows a Code of Ethics to ensure fair treatment of clients, and they do not accept compensation for the sale of securities. The firm discloses potential risks associated with their investment strategies, such as lower quality debt securities risk, fixed income risk, and liquidity risk. They review client accounts annually and provide performance reports quarterly. The firm does not receive compensation for client referrals and does not provide custodial services. Clients grant the firm discretionary authority to manage their accounts, with investment limitations and restrictions observed.