Bishop Rock Capital, L.p.

Bishop Rock Capital, L.P. is a financial advisor firm based in New York, established in April 2015. The firm specializes in offering investment advisory services on a discretionary basis to various funds, including the Bishop Rock Opportunity Master Fund and separately managed accounts. The firm manages approximately $231.3 million in regulatory assets under management as of January 1, 2023. Bishop Rock charges a management fee of 1.5% of each investor's account balance, payable quarterly in advance. The firm may also receive an annual performance-based compensation of 15% or 20% of the net capital appreciation of each investor's capital account. The minimum initial investment in a fund is generally $1,000,000. Bishop Rock aims to achieve long-term capital gains through global long and short equity investments and associated derivatives. The firm's investment philosophy focuses on identifying investment opportunities with high reward relative to risk, considering factors such as favorable context, the right company, and the right price. The firm conducts thorough research and analysis to assess potential investments and manages risk through monitoring portfolio risk measures. Bishop Rock may utilize leverage and derivative instruments, subject to its discretion. The firm discloses potential risks associated with its investment strategies, such as fluctuations in equity securities, non-U.S. securities, high yield securities, and derivative instruments. Clients receive regular portfolio reviews and reporting, with audited financial statements provided within 120 days of the fiscal year end. Bishop Rock follows a code of ethics, participates in client transactions, and complies with custody and voting regulations. Bishop Rock does not currently use third-party marketers or solicitors.