Ionic Capital Management LLC

Ionic Capital Management LLC is a Delaware limited liability company founded in 2006, providing discretionary advice to private investment funds offered exclusively to sophisticated investors. The firm employs long volatility, relative value arbitrage, and value equity strategies for its clients. Ionic manages assets totaling approximately $4.1 billion as of December 31, 2024, solely on a discretionary basis. Fees vary among clients and are specified in the Fund Documentation, generally ranging from 1.00% to 1.5% annually. The Ionic Funds are subject to performance allocations, determined as a percentage of fund appreciation, with specific terms outlined in the Fund Documentation. Clients may be subject to early withdrawal charges under certain circumstances. Ionic Funds engage in long volatility, relative value arbitrage, and value equity strategies globally across asset classes. The firm emphasizes liquid investments in equity securities of companies with solid balance sheets. Investment strategies may evolve over time due to market developments and trends. Ionic Funds are subject to various risks, including market disruptions, volatility, leverage, and counterparty risks. The firm has a code of ethics requiring compliance with laws, disclosure of conflicts of interest, and fair treatment of clients. Ionic has discretion over client investments and votes proxies on their behalf. Clients can request a copy of the firm's proxy voting policies and procedures.