Brightspire Capital Advisors, LLC

BrightSpire Capital Advisors, LLC, a registered investment adviser, was formed in 2019 as a subsidiary of BrightSpire Capital, Inc., a commercial real estate credit REIT. The firm primarily advises commercial real estate debt investments, focusing on senior mortgage loans in the United States. BrightSpire Capital is publicly traded on the NYSE under the ticker symbol "BRSP." The firm manages approximately $1.3 billion of client assets on a discretionary basis. Clients include BRSP 2021-FL1, Ltd. and BRSP 2024-FL2, Ltd., with the Manager serving as collateral manager. Fees are separately determined for each client, with a collateral manager fee of 0.10% per annum of the outstanding portfolio balance. The firm may engage in performance-based fees in compliance with regulatory requirements. Clients may include pooled investment vehicles and real estate finance companies, with minimum investment amounts specified in governing documents. BrightSpire Capital employs leverage strategies and may hedge investments using derivative instruments. The firm's investment philosophy focuses on CRE loans secured by commercial properties, with consideration for risks such as economic conditions, real estate market fluctuations, and credit spread risks. BrightSpire Capital operates under a Code of Ethics, ensuring fair and equitable treatment of clients and managing conflicts of interest. The firm exercises investment discretion on behalf of clients and may vote on client securities when applicable.