Scott's Cove Management LLC

Scott’s Cove Management LLC, established in 2011, is an SEC-registered investment adviser based in New York, founded by Phillip Schaeffer and Philip Acinapuro. The firm specializes in providing discretionary investment management services to private funds, focusing on specific investment objectives and strategies outlined in offering documents. As of December 31, 2022, the firm managed approximately $25.6 million in regulatory assets under management on a discretionary basis. For clients investing in the Scott’s Cove Funds, the firm charges management fees and incentive allocations based on offering documents. Minimum investment requirements vary, with a general policy of $20 million for separately-managed accounts. Clients are also responsible for additional fees and expenses related to their investments. The firm’s investment strategy involves fundamental research on debt and equity securities, including short-term and long-term purchases, short sales, and options trading. Risks associated with the investment strategies include distressed situations, interest rate fluctuations, and risks specific to each investment type. Phillip Schaeffer and Philip Acinapuro, the managing members, oversee the Investment Committee responsible for making investment decisions. The firm’s activities are guided by a Code of Ethics, and clients have the option to delegate proxy voting authority to the firm. The investment team continuously monitors client accounts and provides regular performance reports and updates. Phillip Schaeffer and Philip Acinapuro have no disciplinary history and do not engage in outside business activities. They receive no additional compensation for providing investment advice. The firm’s supervisory activities are overseen by the Chief Compliance Officer, ensuring compliance with all policies and procedures.