Argentic

Argentic Investment Management LLC, also known as Argentic, was originally established in 2013 as a commercial real estate lender and expanded its services to include investing in commercial mortgage-backed securities (CMBS) and other securities in 2017. The firm is registered with the SEC and is majority-owned by clients under common control with Elliott Investment Management LP and its affiliates. Argentic provides investment management services to pooled investment vehicles, tailoring its advice to clients' investment objectives. The firm manages assets on both a discretionary and non-discretionary basis, with a focus on real estate lending and CMBS investments. As of December 31, 2024, Argentic managed approximately $1.39 billion in regulatory assets under management, with $882.9 million on a non-discretionary basis and $509.4 million on a discretionary basis. The firm's fee structure includes management fees based on specific criteria for different types of investment vehicles, performance-based fees, application fees, ancillary asset management fees, and termination fees. Argentic's investment philosophy aims to seek superior risk-adjusted returns while preserving capital, primarily focusing on real estate and high-yield debt investments in the United States. Argentic has a Code of Ethics that requires compliance with laws and regulations, acting in clients' best interests, and avoiding conflicts of interest. The firm's brokerage practices prioritize best execution for clients, and it does not currently utilize soft dollars. Argentic has a Proxy Voting Policy to ensure voting proxies in clients' best interests when necessary. The firm does not have any material legal or disciplinary events in the past ten years. Clients' investments are reviewed regularly, and custody of client funds and securities is held by a qualified custodian. Argentic's investment decisions are made by two Investment Committees based on clients' mandates and restrictions. The firm does not have any prepayment of fees more than six months in advance or other events requiring disclosure under financial information.