FIG Capital Management, LLC (FCM) is located in Jacksonville, Florida and
was formed as a Florida limited liability company on February 1, 2013.
FCM’s Managing Member is Finch Investment Group, LLC which is majority
owned by John C. Finch.
FCM provides investment supervisory services, on a discretionary basis, for
the following private investment companies: FIG Capital Investments, LLC, a
Master Fund in a Feeder Fund arrangement whereby Finch International
Group, a Cayman Islands entity, is the Feeder Fund, and FIG Real Estate
Collective, LP (collectively the “Funds”).
FIG Real Estate Collective, LP is managed by FIG Real Estate Management,
LLC (FRM) which is a relying advisor of FCM and is also wholly owned by
FCM. FRM was formed as a Delaware limited liability company on July 13,
2017.
We currently provide investment supervisory services to the Funds listed
above, which services include, but are not limited to, selecting investments
for acquisition, managing risk and servicing assets.
The total value of the Funds as of December 31, 2019 is $286,970,000
which is comprised of delinquent tax lien and real estate acquisitions. We
did not manage any assets on a non‐discretionary basis.
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In consideration for the provision of our investment advisory services, we
may charge a servicing fee and/or a management fee. If a servicing fee is
charged it will not exceed 1% of a Fund’s total gross assets. If a
management fee is charged, the management will fall within a range of
20% to 80% of a Fund’s realized net profit (“Management Fee”). Detailed
examples of Management Fee calculations will be provided upon request.
Payment of the Management Fee shall be in addition to the proportionate
allocations of realized net profit to any of our principals or owners based
upon their respective capital account in the Funds. During normal operation
scheduled Management Fee payments will be made either quarterly or
semi‐annually. Management Fees are due upon termination or dissolution
of the Funds.
The Manager may, in its sole discretion, reduce, waive or calculate
differently the Management Fee with respect to any Investor, including,
without limitation, Investors that are members, affiliates or employees,
members of immediate families of such persons and trusts or other entities
for their benefit.
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Although we have the authority to enter into such an arrangement, we do
not charge advisory fees based on a share of the capital appreciation of the
Funds or securities in a client account (so called performance‐based fees) at
this time. Our advisory fee compensation is charged only as disclosed in
Item 5, therefore, there is no side‐by‐side management.
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The Manager undergoes rigorous upfront due diligence and underwriting
procedures by using hundreds of data variables prior to acquisition.
The Manager expects that majority of assets will be disposed of within
twelve (12) to twenty‐four (24) months following acquisition.
The Manager monitors both its current net returns as well as a continual
review of back‐tested returns based on historical data to ensure the
product is performing as expected.
Investing in securities and the Funds includes the risk of loss that an
investor should be prepared to bear.
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There have been no disciplinary actions against us or any of our principals
or employees within the last ten years by any domestic, foreign or military
court; the SEC, any other federal regulatory agency; any state regulatory
agency or any foreign financial regulatory authority; or any self‐regulatory
organization (SRO).
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At the time of the Brochure being issued no persons of management has
any pending applications for the various financial industry activities listed.
Additionally, there are no relationships or arrangements deemed to be
material which would create a conflict of interest.
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Transactions and Personal Trading
We have adopted a Code of Ethics and Professional Standards (the “Code”)
for avoiding prohibited acts and designed to eliminate potential conflicts of
interest. The Code works in conjunction with our written Statement of
Policy and Procedures (the “Statement”) designed to detect and prevent
insider trading and to govern personal securities trading. Such statement,
among other things, forbids any member or employee from trading, either
personally or on behalf of others, on material non‐public information or
communicating material non‐public information to others in violation of
the law (i.e. insider trading).
We, our principals and employees, may buy or sell securities that we also
recommend to our clients. Therefore, our Code sets forth our policy that
clients’ interests are always placed ahead of our personal interests. Our
policy requires our personnel to do their buying and selling after
transactions have been completed for clients and includes procedures
requiring all of our principals and employees to report their personal
securities transactions to the designated supervisor on a periodic basis. We
believe that the Code and Statement designed to detect and prevent
insider trading and to govern personal securities trading are appropriate to
prevent or eliminate potential conflicts of interest situations between us,
our employees and our clients. However, clients should be aware that no
set of rules can possibly anticipate or relieve all potential conflicts. We will
provide a copy of our Code of Ethics to any client or prospective client upon
request.
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We do not use the services of a broker‐dealer for the securities that we buy
and sell for the Funds.
We generally determine which securities are bought or sold and the total
amount of the securities to be bought or sold. However, in making the
decision as to which securities are to be bought or sold and the amount
thereof, we are guided by the general guidelines which are set up at the
inception of the adviser‐client relationship in cooperation with the client.
These general guidelines cover such things as relative asset allocation, the
degree of risk which the client wishes to assume, and the types and
amounts of securities to constitute the portfolio. We then endeavor to
manage the portfolio in accordance with these guidelines.
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The Funds’ accounts are reviewed by John Finch. He continually reviews
these accounts in light of the Funds’ needs and looks to such factors as
particular acquisitions in which the Funds’ assets are invested, sector
exposure and asset allocation in connection with any such review. All
Funds’ accounts are reviewed in detail on a monthly basis.
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We do not maintain physical custody of client assets. However, as the
manager of the Funds, we are considered to have “constructive” custody of
the Funds’ assets.
Annually, FCM will furnish either audited or reviewed financial statements
to all Investors within 90 days following the conclusion of each fiscal year.
Financial statements will include a balance sheet or statement of financial
condition, and an income statement or statement of operations. In
addition, all Investors will receive the information necessary to permit them
to prepare their federal and state income tax returns following the
conclusion of such fiscal year as soon thereafter as reasonably practical.
All Investors will also receive, on a monthly basis, an unaudited statement
which will itemize the changes, if any, to the Investor’s capital account.
Such statement will include contributions, withdrawals, total net income or
loss for the period and other appropriate allocations. FCM will not be
required to provide information with regard to specific investment
transactions of the Funds.
Upon any reasonable request, FCM will provide Investors with available
additional information as well as reasonable access to FCM and our
employees for relevant information.
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We have the authority to determine on behalf of the Funds the securities to
be bought and sold and the quantity of said securities. The investments we
make on behalf of the Funds are governed by the investment guidelines
established for each of the Funds.
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Open Brochure from SEC website