The Investment Advisers do not have financial impairments that would preclude them from meeting
contractual commitments to Clients. The Investment Advisers have not been the subject of a bankruptcy
petition within the last 10 years. Assets and capital are held by each limited partnership under the direction
of the General Partner. The Investment Advisers are not required to provide their balance sheet because the
limited partnerships that are their Clients issue third-party audited annual financial statements and do not
require prepayment of fees by Investors/Owners six months or more in advance.
Item 19 - Business Continuity Plan
The Investment Advisers have a business continuity plan to mitigate and recover from the disruption and
loss of office space, communications, services or key personnel.
Disasters
The business continuity plan covers natural disasters such as snowstorms, hurricanes, tornados, pandemic
and flooding. The plan covers man-made disasters such as loss of electrical power, loss of water pressure,
fire, bomb threat, nuclear emergency, chemical event, biological event, telephone service interruption,
internet outage, railway accident and aircraft accident. Electronic files are backed up regularly and archived.
Alternate Offices
Alternate locations are identified to support ongoing operations in the event the main office is unavailable.
The Investment Advisers intend to contact all Investors/Owners within fifteen days of a disaster that dictates
moving its main office to an alternate location. In general, the records of the limited partners are
systematically maintained at the offices of the third party fund administrator and at the offices of the third-
party auditor, enabling back up records to mitigate disasters that may compromise those records.
Summary of Business Continuity Plan
A summary of the business continuity plan is available upon request by sending a request to; Bridge
Investment Group LLC; Attention: John Pennington, Chief Compliance Officer, 111 E. Sego Lily Drive,
#400, Sandy Utah 84070.
Item 20 - Information Security Program Information Security
The Investment Advisers maintain an information security program to reduce the risk that
Investors/Owners’ personal and confidential information may be breached.
Privacy Practices / Privacy Policy
Below is the Investment Advisers’ privacy policy regarding personal information of Investors/Owners,
Separately Managed Accounts and Joint Venture Partners.
PRIVACY POLICY
(The following is the current privacy policy)
As required under the U.S. Federal Trade Commission’s “Privacy of Consumer Financial Information
Rules,” we are providing this notice to certain of our investors in order to inform you of our privacy policies
and practices with respect to the use and sharing of your nonpublic personal information. In connection
with the formation and ongoing activities of our private investment funds, we may collect and maintain
nonpublic information about you from the following sources:
Information we receive from you on subscription agreements, investor questionnaires or other forms that
you submit to us or contracts that you enter into with us;
Information about your transactions with us, our affiliates or others; and
Information obtained from meetings and telephone conversations with you.
We may disclose such nonpublic personal information about you to nonaffiliated third parties as permitted
by law and in accordance with the agreements governing your investment in the Partnership, including:
Other service providers to the Partnership, such as accounting, legal or tax preparation services;
Other partners in the Partnership;
Prospective lenders to the extent required by such lender’s “know your customer” policies; and
Transfer agents, portfolio investments, brokerage firms and the like, in connection with any investment or
disposition.
Information Safeguarding Policy
We restrict access to nonpublic personal information about you to those of our employees and agents who
need to know the information to enable us to provide our services to you. We maintain physical, electronic
and procedural safeguards that we believe are reasonably designed to guard your nonpublic personal
information while it is within our control.
Cayman Islands Data Protection
As an entity organized under the laws of the Cayman Islands, the Partnership also has obligations to you
under applicable data protection laws. The Data Protection Law, 2017 of the Cayman Islands (the “DPL”)
provides similar rights to investors and requires data controllers and processors to implement specific
requirements similar to those applicable under the GDPR. The DPL shall apply from September 30, 2019.
In this Appendix to the Privacy Policy “Data Protection Law(s)” means any applicable law, statute,
declaration, decree, directive, legislative enactment, order, ordinance, regulation, rule or other binding
instrument in relation to the processing of personal data (including those implementing the GDPR or the
DPL) as such legislation and guidance may be amended, replaced or repealed from time to time. The terms
“personal data,” “data subject,” “data controller” and “process” shall have the meanings given to them in
Data Protection Law.
The EEA Investor and the General Partner, the Investment Manager, their respective affiliates or any of
their respective directors, officers, managers, employees, partners, members, shareholders, affiliates,
advisers, attorneys-in-fact, delegates, representatives or agents (collectively, the “Bridge Persons”, and
each, a “Bridge Person”) shall comply with all applicable Data Protection Laws when processing personal
data in connection with the investment in the Partnership.
To the extent the EEA Investor is an individual, the EEA Investor is informed and acknowledges that the
documentation and information the EEA Investor provides in relation to this Subscription Document (and
in the course of its investment in the Partnership) will be processed in connection with this Subscription
Document and any personal data will be processed in accordance with the privacy notice set out in Exhibit
A hereto (the “Privacy Notice”).
To the extent that the EEA Investor is a non-natural person and shares personal data about natural persons
relating to such EEA Investor with a Bridge Person (e.g. information relating to its representatives, contact
persons, directors, trustees, settlors and beneficial owners), the EEA Investor shall ensure such disclosure
of personal data is in compliance with all Data Protection Laws and that there is no prohibition or restriction
which would:
prevent or restrict it from disclosing or transferring the personal data to a Bridge Person;
prevent or restrict a Bridge Person from disclosing or transferring personal data to its affiliates,
subcontractors, vendors, credit reference agencies and competent authorities pursuant to its obligations
under this Subscription Document;
prevent or restrict a Bridge Person, its delegates, affiliates, subcontractors, vendors, credit references
agencies and competent authorities from processing the personal data for the purposes set out in this
Subscription Document; and
ensure that it has provided the Privacy Notice set out in Exhibit A hereto informing the data subjects of a
Bridge Person’s processing of such personal data as described in the Privacy Notice to any applicable data
subject, including notifying data subjects of any updates to the Privacy Notice. Where required, the EEA
Investor shall procure the necessary consents from data subjects to the processing of personal data as
described in the Privacy Notice or this Subscription Document.
The EEA Investor agrees that it will (in addition to, and without affecting, any other rights or remedies that
the Partnership and a Bridge Person may have whether under statute, common law or otherwise) indemnify
and hold harmless a Bridge Person, on demand from and against all claims, liabilities, costs, expenses, loss
or damage incurred by a Bridge Person (including consequential losses, loss of profit and loss of reputation
and all interest, penalties and legal and other professional costs and expenses) arising directly or indirectly
from (i) a breach of this Subscription Document or applicable Data Protection Laws by EEA Investor or
(ii) enforcement by a Bridge Person of any rights under it.
PURPOSE
This Privacy Notice details how the General Partner and/or the Partnership as applicable (the “General
Partner,” “we,” “us”) processes the personal data received about you (including where you are acting on
behalf of an EEA Investor (i.e. as the contact person or ultimate beneficial owner, director, member or
officer etc. of an institutional investor)) in relation to the investment in the Partnership, how we process it
and your rights and obligations in relation to your personal data during the course of your investment. For
the purposes of this Exhibit references to “General Partner” shall be construed to mean any Bridge Person
that collects and/or processes your personal data.
DATA CONTROLLER CONTACT DETAILS
The General Partner is a company formed in Delaware with its principal place of business at 111 East Sego
Lily Drive, Suite 400, Salt Lake City, Utah 84070 and contact email address
investorrelations@bridgeig.com and is the data controller for the purposes of the GDPR and other
applicable Data Protection Laws.
For all data privacy inquiries and any questions or concerns you have about this Privacy Notice, please
contact Bridge Investor Relations (“Data Privacy Contact”) at:
E-mail:
investorrelations@bridgeig.com
Phone: 877-866-4540
Post: 111 East Sego Lily Drive, Suite 400, Salt Lake City, Utah 84070.
WHAT PERSONAL DATA IS PROCESSED?
For the purposes of this Privacy Notice, the “EEA Investor” is the person or entity that is making an
investment in the Partnership.
Where the EEA Investor is an individual, you will be providing your personal data by completing the
subscription forms and associated documentation and by registering for and accessing our investor portal
or by communicating with us by phone, e-mail or otherwise.
Where you are acting on behalf of an EEA Investor (i.e. you are a contact person, ultimate beneficial owner
director, officer etc. of an institutional investor), the EEA Investor may provide your personal data to us by
completing the subscription forms and associated documentation (including by way of satisfying applicable
AML/KYC checks) and by accessing our investor portal or by the EEA Investor or the relevant Underlying
Data Subject communicating with us by phone, e-mail or otherwise. The rights and obligations applicable
under the DPL apply based on your investment into the Partnership.
In both cases, we process the following personal data about you:
Contact information such as first name, last name, telephone number, email address, and physical/mailing
address;
Personal information such as date of birth and job position/title;
Government issued identifiers such as passport number, national insurance number or driving licence
number (and copies of supporting documents of the same);
Bank details, beneficial ownership in the EEA Investor (if applicable) and the source of the funds for your
investment; and
Financial information such as credit history or credit checks.
If the personal data referable to you or an applicable Underlying Data Subject changes, please let us know
by contacti
ng investorrelations@bridgeig.com at the earliest opportunity so that our records can be updated.
Any delay in notification is likely to delay our ability to communicate with you and administer your
investment in the Partnership. Any losses created thereby shall not be our responsibility.
WHAT IS THE PURPOSE FOR PROCESSING THE PERSONAL DATA?
We process your personal data in reliance upon the legal basis and for the purposes set out below.
Purpose of Use Categories of Personal Data
Processed for Each Purpose
Legal Basis for Processing
Account administration, management of
subscription, withdrawals, and transfer of
Interests, maintaining the register of partners
and distributions, managing distributions
including the allocations of profit and loss
between Limited Partners, internal audit
validations, communications and more
generally performance of services requested by
and operations in accordance with the
instructions of the EEA Investor.
Contact information such as first
name, last name business telephone
number, email address; and
Government issued identifiers such
as passport number, national
insurance number or driving license
number.
Necessary for our legitimate interests to
ensure effective administration of the
investment and for the performance of
any contractual obligations related to
the EEA Investor’s investment in the
Partnership.
AML/KYC checks, screening against sanctions
lists, background checks on whether the EEA
Investor or a connect person is a Politically
Exposed Person and related actions of you, your
employees, partners or third parties and
compliance with all relevant legal, regulatory
and administrative obligations and
responsibilities of the Partnership including US
FATCA, CRS, transactions reporting,
complying with requests from, and
requirements of, local or foreign regulatory or
law enforcement authorities, tax identification
and reporting, any other automatic exchange of
information regimes.
Contact information such as first
name, last name business telephone
number, email address; and
Government issued identifiers such
as passport number.
Necessary for compliance with legal
and regulatory obligations including
applicable local laws relating to money
laundering.
Risk management and fraud prevention
purposes including, for the evaluation of the
EEA Investor’s financial needs, monitoring the
EEA Investor’s financial situation including for
assessing its creditworthiness and solvency, to
manage litigation and for our accounting
purposes.
Contact information such as first
name, last name business telephone
number, email address;
Government issued identifiers such
as passport number; and
Necessary for our legitimate interests
and legal obligations (as to which please
see above).
Financial information such as credit
history or credit checks.
Monitoring and recording calls and electronic
communications for quality and business
analysis.
Contact information such as first
name, last name business telephone
number, email address.
Necessary for our legitimate interests to
run an efficient and successful
Partnership.
For the purpose of receiving marketing
materials (about products and services of the
group of entities to which the Partnership
belongs or those of its commercial partners or
which you have requested) and information
about fundraising activities for new General
Partner funds and investment entities. You can
opt-out of receiving such communications at
any time by contacting us at
investorrelations@bridgeig.com.
Contact information such as first
name, last name business telephone
number, email address.
Necessary for our legitimate interests in
order to keep you informed of
developments at our company.
For the purpose of processing payments Contact information such as first
name, last name business telephone
number, email address; and
Bank details.
Where the EEA Investor is an
individual: it is necessary for entry into
and performance of a contract.
Where you are acting on behalf of an
EEA Investor: it is necessary for our
legitimate interests (to ensure effective
administration of the investment).
HOW WILL PERSONAL DATA BE SHARED?
Disclosures and transfers with third parties
We share your personal data with selected third parties. The categories of recipients include:
Competent authorities, e.g. tax authorities, courts and any affiliated service providers, in order to comply
with our legal obligations and for licensing or other regulatory compliance purposes;
Third party providers including SS&C Technologies, Inc. located in the United States and SS&C Fund
Services (Cayman) Ltd. located in the Cayman Islands (together, “SS&C”) for the purpose of fund
administration;
Third party service providers in order to fulfil our legal obligations, for example, sanctions laws and to
fulfil our KYC and AML obligations;
Existing Investors in the Partnership to facilitate communication between investors in certain
circumstances;
Other EEA Investors, including ultimate beneficial owners, for the purpose of the General Partner fulfilling
its obligations; and
Lenders, to enable lenders to perform KYC for the purpose of providing borrowing facilities.
With respect to US FATCA and/or CRS, please note that (i) your personal data may be processed and
transferred to a local tax authority who may transfer such data to the competent foreign tax authorities, only
for the purposes provided for in the FATCA and CRS rules as well as to service providers for the purpose
of effecting the reporting on our behalf and (ii) for each information request sent to the EEA Investor,
addressing such information requests as are mandatory (including where failure to respond may result in
incorrect or double reporting). We also use SS&C to provide our investor portal.
Where the General Partner or the Partnership is under an obligation to do so by law, it will disclose your
personal data to regulators, courts, the police or tax authorities, or in the course of litigation. In some cases,
in accordance with applicable law, it may not be possible to notify you in advance about the details of such
disclosures.
Safeguarding personal data
Where a Bridge Person transfers your personal data to group entities that are outside the European
Economic Area (the “EEA”) or the Cayman Islands, this will be done under the Commission’s model
contracts for the transfer of personal data to third countries (i.e., the standard contractual clauses), pursuant
to Decision 2004/915/EC.
Where we transfer your personal data to our third-party service providers and partners outside the EEA,
these recipients are required to execute the Commission’s model contracts for the transfer of personal data
to third countries (i.e., the standard contractual clauses) or be certified as complying with the EU-US
Privacy Shield.
Please contact
investorrelations@bridgeig.com should you wish to receive a copy of these standard data
protection clauses. For more information about the EU-US Privacy Shield Framework, visit the U.S.
Department of Commerce’s Privacy Shield website.
YOUR RIGHTS
You have certain rights in relation to the personal data we hold about you, which we detail below.
Please note that we will require you (or any applicable Underlying Data Subject) to verify identity before
responding to any requests to exercise your rights by providing proof of identity, such as a copy of a
passport/driving licence and proof of address (such as a recent bank or building society statements (no more
than three months’ old)). We must respond to a request by you to exercise those rights without undue delay
and at least within one month, (although this may be extended by a further two months in certain
circumstances). To exercise any of your rights, please direct all queries, complaints and comments:
investorrelations@bridgeig.com.
Data access rights. In certain circumstances, you have the right to access and receive a copy of information
we hold about you, to rectify any personal information held about you that is inaccurate and to request the
deletion, portability or suspension of or access to personal information held about you. Any access request
after the first such request by you may be subject to a reasonable fee to meet our costs in providing you
with details of the information we hold about you. You can exercise your rights by contacting us at
investorrelations@bridgeig.com.
Complaints. In the event that you wish to make a complaint about how we process your personal
information, please contact us in the first instance at investorrelations@bridgeig.com and we will endeavour
to deal with your request as soon as possible. This is without prejudice to your right to launch a claim with
the supervisory authority.
FOR HOW LONG IS PERSONAL DATA RETAINED?
We will retain your personal data that you provide to us for seven years from the date of provision, or
longer, where required pursuant to contractual obligations.
After you have terminated your investment in the Partnership, we may store your information in an
aggregated and anonymized format.
CHANGES TO THIS POLICY. This Privacy Notice may be amended from time to time, at our discretion.
You will be notified of any changes to these terms.
The Filing Adviser and the Relying Advisers
are all subsidiaries of Bridge Investment Group LLC
----------------------------------- Part 2B Form ADV Cover Page
Firm Brochure Part 2B
Bridge Multifamily Fund Manager LLC (the “Filing Adviser”)
111 E. Sego Lily Drive, #400, Sandy, Utah 84070
----------------------------------- Bridge Seniors Housing Fund Manager LLC (a “Relying Adviser”)
1000 Legion Place, Suite 1600, Orlando, FL 32801,
and 111 E. Sego Lily Drive, #400, Sandy, Utah 84070
Bridge Debt Strategies Fund Manager LLC (a “Relying Adviser”)
280 Park Avenue, Floor 28 West, New York, NY 10022,
and 111 E. Sego Lily Drive, #400, Sandy, Utah 84070
Bridge Office Fund Manager LLC (a “Relying Adviser”)
Five Concourse Parkway, suite 500, Atlanta Georgia 30328,
and 111 E. Sego Lily Drive, #400, Sandy, Utah 84070
Bridge Development Fund Manager LLC (a “Relying Adviser”)
111 E. Sego Lily Drive, #400, Sandy, Utah 84070
Bridge Agency MBS Fund Manager LLC (a “Relying Adviser”)
280 Park Avenue, Floor 28 West, New York, NY 10022,
and 111 E. Sego Lily Drive, #400, Sandy, Utah 84070
----------------------------------- Effective Date: March 24, 2020
This Firm Brochure provides information about the qualifications and business practices of the Filing
Adviser and the Relying Advisers combined, referred to herein as the “Investment Advisers”. This Part 2B
of Form ADV supplements the Part 2A of Form ADV (the “Brochure) and displays biographies of
investment adviser representatives, each of whom currently holds an investment adviser license (series 65).
Biographies of additional personnel are available in the private placement memorandum(s) of each limited
partnership that is a Client of the Investment Advisers.
Website for the Investment Advisers --
www.BridgeIG.com
If you have any questions about the contents of this Brochure, please contact John Pennington by telephone
at: 1-801-716-4553, or by email at
: John.Pennington@BridgeIG.com. The information in this Brochure has
not been approved or verified by the United States Securities and Exchange Commission (“SEC”), or by
any state securities authority. Additional information is available on the SEC’s website at
www.adviserinfo.sec.gov.
Part 2B Form ADV - Robert Morse
Title: Chairman of the Board Birth Year: 1955
Educational Background:
Bachelor degree in Economics from Yale University, 1977
MBA from Harvard Graduate School of Business, 1981
JD from Harvard Law School, 1981
Professional Certifications:
Completed the following examinations to be a qualified Registered Principal of the US Financial Industry
Regulatory Authority (FINRA):
• Currently holds a Series 65 license as an Investment Adviser Representative
• Formerly held a Series 7, Series 63 and Series 24 – General Representative, Uniform Securities --
------- Agent State Law and General Securities Principal
Completed the following examinations under the Hong Kong Securities and Futures Commission:
• Regulation of Corporate Finance (Feb 2012)
• Fundamentals of Securities and Futures Regulations (July 2011)
•
Regulation of Securities (July 2011)
Business Experience:
•
(2019 – present) Board Member - Manager – Bridge Agency MBS Fund Manager LLC
• (2018 – present) Board Member - Manager – Bridge Development Fund Manager LLC
• (2016 – present) Board member – Manager - Bridge Office Fund Manager LLC
• (2014 – present) Board member – Manager - Bridge Debt Strategies Fund Manager LLC
• (2013 – present) Board member – Manager - Bridge Seniors Housing Fund Manager LLC
•
(2012 – present) Executive Chairman of the Board – Bridge Investment Group LLC
•
(2009 – present) Executive Chairman of the Board – Bridge Multifamily Fund Manager LLC
• (2015 – present) IC Member/Fund Manager – Bridge Multifamily III
• (2012 – 2019) IC Member/Fund Manager – Bridge Multifamily II
• (2009 – 2018) IC Member/Fund Manager – Bridge Multifamily I
• (2009 – 2012) Chairman/Co-CEO – Primus|PMN Capital (H.K.) Limited
•
(2004 – 2008) CEO – Citi Asia Institutional Client Group
•
(1999 – 2004) Co-Head, then Global Head, of Investment Banking, Citi New York, NY
• (1997 – 1999) CEO, Salomon Brothers Asia, Hong Kong
• (1994 – 1997) Global Head of Natural Resources, Investment Banking, New York, NY
• (1992 – 1994) Managing Director, Investment Banking, New York, NY
• (1988 – 1992) Director, Investment Banking, New York, NY
(1985 – 1988) Vice President, Investment Banking, New York, NY
(1985) Associate, Richard Ellis, New York, NY
• (1981 – 1984) Associate, Investment Banking, Lehman Brothers, New York, NY
Mr. Morse brings 30 years of experience in investment banking, mergers and acquisitions, commercial
banking and private equity fund management. Examples of this experience include the following:
Mr. Morse is the Chairman and a Partner of Bridge Investment Group LLC, and has been integrally
involved in the formation, management, strategy, investment strategy and capitalization of Bridge
Investment Group LLC and its various affiliates. Mr. Morse has been integrally involved not only
at the macro level of formation, management, strategy and capitalization, but also in weekly
participation in investment decisions across all Clients of the Investment Advisers.
•
Mr. Morse provided management oversight of Citigroup's US$5 billion of proprietary capital in
Asia. Investments were made across multiple asset classes, including equities (public and private),
corporate acquisitions, distressed and mezzanine debt and real estate.
•
During Mr. Morse's tenure as CEO of Citi Asia Institutional businesses, Citigroup was awarded the
'Best Bank in Asia' award annually by FinanceAsia, EuroMoney and The Asset magazines and
client surveys. From 2004 through 2007, Citigroup's institutional revenue in Asia increased from
US$3.4 billion to US$6.5 billion, and net income from US$1.3 billion to US$2.6 billion.
•
Under Mr. Morse's leadership, Citigroup completed and integrated several regional acquisitions,
including Koram Bank in Korea, a 20% interest and management responsibility in Guangdong
Development Bank, Bank of Overseas Chinese in Taiwan, and a 12% interest in HDFC in India.
•
Prior to his position as CEO of Citigroup's Asia Institutional Client's Group, Mr. Morse served as
the Head of Global Investment Banking for Citigroup, based in New York. Earlier, he held a variety
of increasingly senior positions at Salomon Brothers since joining that firm in 1985.
•
Additionally, Mr. Morse was a co-founder of SSB Capital Partners, a 2000 vintage US$400 million
private equity fund.
Arbitration Claims: NONE
Self-Regulatory Organization or Administrative Proceeding: NONE
Bankruptcy Petition: NONE
Disciplinary Information There are no material legal or disciplinary events to be disclosed with respect to Mr. Morse.
Other Business Activities
Mr. Morse is a Board Member of Amkor Technologies, a publicly listed NASDAQ company. He serves on
the Audit and Compensation Committees as well as receives compensation as listed in the proxy statement
of that company. This position does not require a substantial investment of time.
Additional Compensation
Mr. Morse does not receive any additional compensation from non-Clients in connection with the advisory
Supervision Robert Morse is the Chairman of the Board of Bridge Investment Group LLC and reports to the members
of that company and to the other members of the board. John Pennington, the Investment Advisers’ Chief
Compliance Officer (1-801-716-4553,
John.Pennington@BridgeIG.com), also oversees Mr. Morse’s
compliance with the Investment Advisers’ compliance policies and procedures.
Part 2B Form ADV - Dean Allara Title: Vice Chairman – Bridge Investment Group LLC Birth Year: 1962
Educational Background: Bachelor of Science from St. Mary’s College of California, 1984
Masters of Business Administration from Santa Clara University, 1986
Professional Certifications:
Currently holds a Series 65 license as an Investment Adviser Representative
Business Experience:
• (2018 – present) Manager – Bridge Development Fund Manager LLC
• (2016 – present) Vice Chairman of the Board – Bridge Investment Group LLC
• (2016 – present) Board member – Bridge Office Fund Manager LLC
• (2014 – present) Board Member – Bridge Debt Strategies Fund Manager LLC
•
(2013 – present) Board Member – Bridge Seniors Housing Fund Manager LLC
•
(2011 – present) Board Member – Bridge Multifamily Fund Manager LLC
•
(2012 – 2019) IC Member/Fund Manager – Bridge Multifamily II
• (2009 – 2018) Partner – Bridge Multifamily Fund I
• (1996 – present) Principal – Bridge Founders Group, LLC
• (1996 – 2000) CEO/President for Trace Products Inc./Trace Digital LLC
• (1990 – 1996) Sales Manager for Trace Products Inc./Trace Digital LLC
•
(1986 – 1990) Sales Rep for IBM/ROLM Telecommunications
Mr. Allara is the Vice Chairman of Bridge Investment Group LLC and has over 20 years of experience in
the real estate investment process including analyzing, raising capital, acquiring, financing, developing,
managing, improving and selling properties. Mr. Allara is responsible for capital raising, investment
analysis and investor relations.
•
Mr. Allara has been directly responsible for capital raising in multifamily and single family
residential, seniors housing, commercial office, resort golf properties, hotel, and retail properties.
Mr. Allara has experience in real property development including permits and zoning, master
planning, debt financing, insurance, construction management, home owners’ association
management, marketing and residential sales.
•
Mr. Allara is a principal of Bridge Founders Group, LLC since 1996, where he has been responsible
for raising capital from high net worth individuals, family office and institutional partners in
addition to responsibilities related to ownership, investment analysis, development, asset
management, investor relations, and legal & tax issues since inception.
Mr. Allara has experience in real property development including permits and zoning, master
planning, debt financing, insurance, construction management, home owners’ association
management, marketing and residential sales.
Previous experience includes a ten-year career with Trace Digital, a leading global supplier of
software manufacturing equipment, where he was initially a Regional Sales Manager and
eventually, the company’s President and CEO.
Bankruptcy Petition: NONE
Disciplinary Information
There are no material legal or disciplinary events to be disclosed with respect to Mr. Allara.
Other Business Activities
Mr. Allara is one of the Managing Partners of several special purpose entities (SPEs) created for the purpose
of holding various real estate assets. His responsibilities include oversight of project activities. He receives
no compensation from these assets, other than through ownership distributions. However, these entities pay
management fees to Bridge Property Management (BPM), an affiliate of the Filing Adviser, from which
Mr. Allara receives indirect corporate profits. BPM and the Filing Adviser are both wholly owned by Bridge
Investment Group LLC from which Mr. Allara receives salary, bonus, and profits.
Additional Compensation
Mr. Allara does not receive any additional compensation from non-Clients in connection with the advisory
Supervision Mr. Allara is supervised by the Board of Directors of Bridge Investment Group LLC. The Chairman of the
Board of Directors is Robert Morse (1-917-488-2910,
Robert.Morse@BridgeIG.com). John Pennington,
the Investment Advisers’ Chief Compliance Officer (1-801-716-
4553, John.Pennington@BridgeIG.com),
also oversees Mr. Allara’s compliance with the Investment Advisers’ compliance policies and procedures.
Part 2B Form ADV - Jonathan Slager
Title: Co-CEO of Bridge Investment Group LLC
Birth Year: 1960
Educational Background: Bachelor of Arts in English from the University of Utah, 1981
Masters of Business Administration from New York University, 1985
Professional Certifications: •
Currently holds a Series 65 license as an Investment Adviser Representative.
• Salt Lake Board of Realtors – Licensed Agent
Business Experience:
• (2019 – present) Manager – Bridge Agency MBS Fund Manager LLC
• (2018 – present) Manager – Bridge Development Fund Manager LLC
• (2016 – present) Co-CEO – Bridge Investment Group LLC
• (2014 – present) Board Member – Bridge Debt Strategies Fund Manager LLC
•
(2013 – present) Board Member – Bridge Seniors Housing Fund Manager LLC
•
(2012 – present) IC Member/Principal – Bridge Multifamily II
•
(2008 – present) IC Member/Principal/Co-Founder – Bridge Multifamily Fund I
• (2006 – 2017) Principal/Managing Director – Bridge Loan Capital Fund LP, Salt Lake City, UT
• (2005 – 2010) Principal – Pacific Group, Salt Lake City, UT
• (2004 – 2006) President/Co-Founder – Mobile Lifestyles, Salt Lake City, UT
• (2002 – 2004) Senior Vice President – Sentry Financial Corp., Salt Lake City, UT
•
(1997 – 2001) CEO Kodiak Interactive Software Studios, Salt Lake City, UT
•
(1994 – 1997) CFO/COO Sculptured Software, Inc., Salt Lake City, UT
• (1993 – 1994) VP/Marketing – Electro Brain Corp., Salt Lake City, UT
• (1990 – 1991) VP – Wells Fargo Realty Finance, San Francisco CA
• (1985 – 1990) VP – the Koll Company, Pleasanton CA
Mr. Slager has 33 years of experience in the real estate, finance, and software industries.
•
Since the inception of Bridge Investment Group LLC in 2009, Mr. Slager has been involved in
underwriting, acquiring and managing all fund assets, and has been a key driver of asset execution
and returns.
•
Prior to co-founding Bridge Multifamily I, Mr. Slager worked with The Pacific Group USA, Inc.,
and with Bridge Loan Capital Fund from 2005 to 2009. He was responsible for major acquisitions,
development, and entitlements and financing of major real estate projects.
Prior to that, Mr. Slager worked at The Koll Company and then Wells Fargo Bank. At these
institutions he was responsible for the acquisition, development, asset management and disposition
of commercial real estate assets. Mr. Slager played a leading role on large institutional commercial
real estate projects spanning resort, residential, office, industrial and retail projects. There, he
negotiated purchase agreements, performed feasibility analyses, coordinated resolution of zoning
and entitlement issues, arranged debt financing, oversaw construction, managed assets, performed
leasing and marketing services, acquired land and buildings, managed multiple development
projects of commercial office, industrial, retail, residential, and resort real estate, formed joint
ventures with private and institutional partners, such as Aetna and John Hancock, and marketed
and sold over US$1 billion in real estate assets.
Bankruptcy Petition: NONE
Disciplinary Information
There are no material legal or disciplinary events to be disclosed with respect to Mr. Slager.
Other Business Activities Mr. Slager is a manager and minority principal of ROC Landfill, LLC. This entity manages waste products
and does pose a conflict of interest with the duties of the Investment Advisers.
Mr. Slager is a principal of Slager SL, LLC and Penelope LLC, each of which is a commercial property
owner with his family trust and does not pose a conflict of interest with the duties of the Investment
Advisers.
Additional Compensation Mr. Slager does not receive any additional compensation from non-Clients in connection with the advisory
Supervision Mr. Slager is supervised by the Board of Directors of Bridge Investment Group LLC. The Chairman of the
Board of Directors is Robert Morse (1-917-488-2910,
Robert.Morse@BridgeIG.com). John Pennington,
the Investment Advisers’ Chief Compliance Officer (1-801-716-
4553, John.Pennington@BridgeIG.com),
also oversees Mr. Slager’s compliance with the Investment Advisers’ compliance policies and procedures.
Part 2B Form ADV - Christian Young
Title: Co-CEO of Bridge Investment Group LLC and CEO of the Filing Adviser Birth Year: 1959
Educational Background: Bachelor of Science, Business Management / Finance from the University of Utah, 1982
Professional Certifications:
Currently holds a Series 65 license as an Investment Adviser Representative
Business Experience:
• (2019 – present) Board Member & Manager – Bridge Agency MBS Fund Manager LLC
•
(2014 – present) Co-CEO – Bridge Investment Group LLC
•
(2012 – present) Board of Directors & CEO – Bridge Multifamily Fund Manager LLC
•
(2018 – Present) IC Member/Fund Manager – Bridge Debt Strategies Fund III
• (2016 – Present) IC Member/Fund Manager – Bridge Debt Strategies Fund II
• (2014 – Present) IC Member/Fund Manager – Bridge Debt Strategies Fund I
• (2012 – Present) IC Member/Fund Manager – Bridge Multifamily Fund III
• (2012 – 2019) IC Member/Fund Manager – Bridge Multifamily II
•
(2009 – 2018) Partner – Bridge Multifamily Fund I
•
(1997 – present) Chairman/Co-Founder – Bridge Founders Group, LLC
• (1990 – 1997) President – Acorn Development Corp.
• (1982 – 1997) Various executive roles with AT&T and Lucent Technologies
Business Experience: Mr. Young is Chairman and Co-Founder of Bridge Founders Group, LLC, (formerly CDS Investments,
L.C.) the predecessor of Bridge Investment Group LLC. He has been involved in all phases of the firm’s
development and investments since its inception in 1997 and approves all commitments by the company.
In the past, Mr. Young has focused on capital syndication, investor relations, development analysis,
transaction structuring, multifamily operations, and dispositions. In his current role as Co-CEO of Bridge,
Mr. Young oversees the firm’s real estate tax/legal issues, corporate finance and fund administration, human
resources, operations, information technology, compliance and Bridge’s strategic planning. In 1997, Mr.
Young formed CDS Investments, Inc. From 1990 to 1997, Mr. Young was the President of Acorn
Development Corp., which successfully invested syndicated equity capital into commercial investment real
estate projects in the western United States identified, financed, managed and sold by Messrs. Stanger,
Allara, Minnick, Andrus and Stayner. Before co-founding Bridge Founders Group, LLC -- Mr. Young had
a successful 15-year career with AT&T and Lucent Technologies as an executive in their business systems
group.
Bankruptcy Petition: NONE
Disciplinary Information
There are no material legal or disciplinary events to be disclosed with respect to Mr. Young.
Other Business Activities
Mr. Young is one of the Managing Partners, Officers and/or Directors of several special purpose entities
(SPEs) created for the purpose of holding various real estate assets. His responsibilities include oversight
of project activities. He receives no compensation from these assets, other than through ownership
distributions. However, these entities pay management fees to Bridge Property Management (BPM), an
affiliate of the Filing Adviser, from which Mr. Young receives indirect corporate profits. BPM and the
Filing Adviser are both wholly owned by Bridge Investment Group LLC from which Mr. Young receives
salary, bonus, and profits.
Additional Compensation
Mr. Young does not receive any additional compensation from non-Clients in connection with the advisory
Supervision Mr. Young is supervised by the Board of Directors of Bridge Investment Group LLC’s. The Executive
Chairman of the Board of Directors isRobert Morse (1-917-488-
2910, Robert.Morse@BridgeIG.com).
John Pennington, the Investment Advisers’ Chief Compliance Officer (1-801-716-4553,
John.Pennington@BridgeIG.com), also oversees Mr. Young’s compliance with the Investment Advisers’
compliance policies and procedures.
Part 2B Form ADV – James Chung
Educational Background and Business Experience Title: Chief Investment Officer – Bridge Debt Strategies Fund Manager LLC Birth Year: 1971
Educational Background: Bachelor of Arts in Applied Mathematics from Harvard University, 1993
Masters of Business Administration from the MIT Sloan School of Management, 2000
Professional Certifications: • Currently holds a Series 65 license as an Investment Adviser Representative.
• Previously was Series 7 and Series 63 licensed with Morgan Stanley.
Business Experience:
• (2019 – present) Manager & IC member – Bridge Agency MBS Fund Manager LLC
• (2014 – present) Chief Investment Officer – Bridge Debt Strategies Fund Manager LLC
• (2009 – 2013) Managing Director – Morgan Stanley (Fixed Income Division), New York, NY
•
(2005 – 2009) Executive Director – Morgan Stanley (Fixed Income Division), New York, NY
•
(2003 – 2005) Vice President – Morgan Stanley (Fixed Income Division), New York, NY
• (2000 – 2003) Associate – Morgan Stanley (Fixed Income Division), New York, NY
• (1996 – 1998) Associate – First Manhattan Consulting Group, New York, NY
• (1995 – 1995) Trader – Walton Investments, Boston, MA
• (1993 – 1994) Trading Assistant – Bohling Capital Management, Westport, CT
Mr. Chung has 20 years of experience in the real estate, finance, and securitization.
•
Since 2014, Mr. Chung has been a member of the Executive Committee, Investment Committee
and served as the Chief Investment Officer for the General Partners of the Bridge Debt Strategies
family of funds and Bridge Debt Strategies Fund Manager LLC’s clients.
•
Prior to joining Bridge Debt Strategies Fund Manager LLC, Mr. Chung was a Managing Director
at Morgan Stanley where he worked from 2000 to 2013. From 2004 to July 2013, Mr. Chung was
the head of the Commercial Real Estate Loan desk within the Fixed Income Division, where he had
direct oversight of the pricing, hedging, structuring and securitization of the commercial real estate
loan portfolio. During his tenure at Morgan Stanley, Mr. Chung was a voting member of both the
global large loan credit committee and the U.S. credit committee and he was involved in over $50
billion of loan originations and 75 securitizations. From 2000 to 2004, Mr. Chung held a variety of
positions within the commercial real estate lending group at Morgan Stanley, including large loan
originations and underwriting, portfolio acquisitions and risk management.
Prior to joining Morgan Stanley in 2000, Mr. Chung worked in the Risk Management practice at
First Manhattan Consulting Group, a leading financial services management consulting company.
Bankruptcy Petition: NONE
Disciplinary Information There are no material legal or disciplinary events to be disclosed with respect to Mr. Chung.
Other Business Activities Mr. Chung is not engaged in any other investment-related business or in any other business or occupation
that provides a substantial amount of his income or takes a substantial amount of his time.
Additional Compensation
Mr. Chung does not receive any additional compensation from non-Clients in connection with the advisory
services he provides.
Supervision Mr. Chung is supervised by the Board of Directors of Bridge Investment Group LLC. The Chairman of the
Board of Directors is Robert Morse (1-917-488-2910,
Robert.Morse@BridgeIG.com). John Pennington,
the Investment Advisers’ Chief Compliance Officer (1-801-716-
4553, John.Pennington@BridgeIG.com),
also oversees Mr. Chung’s compliance with the Investment Advisers’ compliance policies and procedures.
Part 2B Form ADV – John Pennington
Educational Background and Business Experience Title: Chief Compliance Officer Birth Year: 1964
Educational Background: Bachelor of Science in Economics from the University of Utah, 1988
Professional Certifications: Currently holds a Series 65 as an Investment Adviser Representative
Formerly held a Series 7 from 2000 to 2004 and from 2016 to 2018
Former Westminster College School of Business Advisory Board Member, Salt Lake City, Utah
Former Utah Special Olympics Director of Fund Raising, Salt Lake City, Utah
Business Experience:
• (2019 – present) CCO/Principal – Bridge Agency MBS Fund Manager LLC
• (2018 – present) CCO/Principal – Bridge Development Fund Manager LLC
• (2016 – present) CCO/Principal – Bridge Office Fund Manager LLC
•
(2014 – present) CCO/Principal – Bridge Debt Strategies Fund Manager LLC
•
(2013 – present) CCO/Principal – Bridge Seniors Housing Fund Manager LLC
• (2011 – present) CCO/Principal – Bridge Multifamily Fund Manager LLC (“Filing Adviser”)
• (2009 – present) General Partner/Manager – the Cayman Island Bridge feeder funds
• (2008 – present) IC Member/Co-Founder – Bridge Multifamily Fund I
• (2005 – present) Managing Director/Co-Founder – Bridge Loan Capital Fund, LP
•
(1989 – 2017) CEO/Co-Founder – United Security Acquisition and Trade, Inc.
•
(1997 – 1999) COO/ Principal – Global Connections Inc.
Mr. Pennington is the CCO for the Filing Adviser and Relying Adviser(s) and has 30 years of experience
in real estate finance, corporate formations, international regulatory, fund management and administration,
asset acquisition, real estate loan underwriting, international trade, public company management, and SEC
financial reporting & compliance. He is especially skilled in the documentation of security interests in real
estate assets. Examples of this experience include the following:
•
Since inception of Bridge Investment Group LLC, Mr. Pennington has overseen the establishment
and implementation of SEC filings, compliance, administration, coordination of legal counsel,
auditor relationships and is an investment committee member of Bridge Multifamily Fund I.
•
Prior to Co-founding Bridge Multifamily Fund I in 2008, Mr. Pennington Co-founded Bridge Loan
Capital Fund, LP in 2005, a mezzanine fund focused on the acquisition and origination of real-
estate-backed debt. His responsibilities included capital raising, coordinating bank relationships,
budgets, audits, and financial reports, SEC filings, fund formation matters, compliance,
administration, coordination of legal counsel, and annual audits.
From 1989 to 2017, he was the Co-founder and President of USAT Inc., an import/export company,
which has transacted business in over 17 countries; subsequently Mr. Pennington was the co-
founder/co-owner of businesses located in Spain, Canada, Germany and Puerto Rico.
From 1997 through 1999, he was chief operating officer and principal of a publicly held company
with 140 employees. He was responsible for audits, SEC reporting, and international sales. This
led to his co-ownership, acquisition and subsequent successful sale of a foreclosed real estate
distressed housing development, including a full-service golf course and country club.
• Within Bridge’s companies, Mr. Pennington is the Chief Compliance Officer and point of contact
for all inquiries regarding U.S. Securities and Exchange Commission (SEC) compliance,
regulations, exams and audits.
Arbitration Claims: NONE
Self-Regulatory Organization or Administrative Proceeding: NONE
Bankruptcy Petition: NONE
Disciplinary Information
There are no material legal or disciplinary events to be disclosed with respect to Mr. Pennington.
Other Business Activities: Mr. Pennington is the CCO / Principal and full-time employee of Bridge Investment Group LLC. In
addition, Mr. Pennington is an indirect owner of all the General Partnerships for the Bridge family of funds,
receiving company profits and dividends. In connection to this organization he is the general partner for
several offshore parallel real estate investment vehicles. These offshore parallel vehicles mainly use
Delaware corporations to hold their participation in the Bridge family of funds of which Mr. Pennington is
the president or officer of each of these Delaware corporations. Mr. Pennington receives no compensation
for his duties as officer of the Delaware corporations and receives no compensation as a fund manager of
each the offshore parallel vehicles.
Mr. Pennington is the Co-founder & Managing Director of Bridge Loan Capital Fund, LP. This fund is
closed for additional investment and provides zero compensation to Mr. Pennington. This activity does not
pose a conflict of interest with the duties of the Investment Advisers.
Additional Compensation Mr. Pennington does not receive any additional compensation from non-Clients in connection with the
advisory services he provides.
Supervisor Mr. Pennington is supervised by the CEO of the Filing Adviser, Christian Young
christian.young@bridgeig.com
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