Indaba Capital Management, L.p.

Indaba Capital Management, L.P. is a San Francisco-based investment advisor firm founded in 2010. The firm specializes in providing discretionary investment management services to private pooled investment funds. Indaba's investment strategy focuses on event-driven and opportunistic value investing, with a mix of fundamental strategies across the capital structure. The firm seeks to create a concentrated portfolio of "best ideas" by conducting thorough due diligence on companies experiencing value dislocations due to complex events. Indaba manages approximately $600,565,000 in client assets as of December 31, 2024, all on a discretionary basis. The firm charges an asset-based management fee and a performance-based incentive allocation. Clients include high net worth individuals, trusts, investment companies, foundations, and pension plans, with a minimum initial investment of $5,000,000. Indaba does not engage in soft dollar arrangements but receives research services from broker-dealers informally. The firm has a Code of Ethics in place to ensure compliance with fiduciary obligations and manages accounts with full discretion. Indaba votes proxies in the best interest of clients and handles class action claims on a case-by-case basis. The firm has no financial conditions impacting its ability to meet commitments and has not been subject to bankruptcy in the past ten years.