Tall Tree Investment Management, LLC

Tall Tree Investment Management, LLC, established in 2005, specializes in managing collateralized loan obligations for three issuers. The firm focuses on secured lending and high yield securities, including senior loans, structured finance, real estate, and distressed debt. With approximately $235 million in discretionary assets under management, the firm provides investment advice tailored to the issuers' objectives, strategies, and guidelines. Clients investing in the issuers typically range from $100,000 to $1,000,000, with exceptions as outlined in offering circulars. The fee structure includes Collateral Management Fees based on the principal amount of the collateral portfolio, with incentives subject to specific returns and hurdle rates. The firm may receive performance-based fees tied to cash flow generated from underlying assets. Investment strategies involve various credit products, sourced from primary and secondary markets, with a focus on risk assessment and monitoring. The firm's Code of Ethics emphasizes fair treatment, avoidance of conflicts of interest, and disclosure of material facts. The firm exercises investment discretion within the constraints of the issuers' agreements, ensuring compliance with restrictions on collateral transactions. The firm's brokerage practices prioritize best execution, considering factors like prompt execution, financial stability of brokers, and research services. Soft dollar benefits may influence broker selection, with adherence to the "28(e) safe harbor." The firm has custody arrangements with U.S. Bank, and clients receive account statements for review. The firm acts as a fiduciary, voting client securities in their best interest and maintaining transparency in its operations.