EFTA01108276Set 9
2003-07-0153p25,836w
accept lesser amounts. (See "Outline
of Partnership Agreement — Capital Accounts.")
ADDITIONAL CAPITAL Limited Partners of the Partnership may make additional
CONTRIBUTIONS; capital contributions of at least $100,000, subject ... ALLOCATION OF GAINS AND LOSSES
At the end of each Accounting Period (as defined below) of the Partnership, any
net capital appreciation or net capital depreciation, will be allocated ... proportion to their respective opening capital
account balance for such accounting period. The net capital appreciation or depreciation
allocated to each capital account of a Limited Partner will be decreased
https://www.justice.gov/epstein/files/DataSet%209/EFTA01108276.pdf
EFTA00310618Set 9
1999-01-0458p26,346w
initial capital contribution,
and each additional capital contribution by a Limited
Partner, will each be credited to a separate memorandum
sub-account within such Limited Partner's Primary Capital
Account ... Primary Capital Account Sub-Account").
MINIMUM CAPITAL
COMMITMENT $2,000,000, subject to the discretion of the General Partner
to accept lesser amounts.
LOCK-UP PERIODS Primary Capital Account ... invested
499055.21
-14-
EFTA00310635
capital and profits thereon, but may withdraw at the end of
each fiscal year an amount equal to any Incentive
Allocations made to its capital account
https://www.justice.gov/epstein/files/DataSet%209/EFTA00310618.pdf
annum of the net profits allocable to the amount invested in
the Capital Structure Fund (after reduction by an amount equal to the Capital Structure
Management Fee), subject ... modified loss carry forward provision (the "Capital
Structure Incentive Allocation"). Under the modified loss carry forward provision, the
Capital Structure Incentive Allocation will be reduced by half to 15% until ... Capital Structure Incentive Allocation.
Hudson Bay Capital reserves the right to reduce, waive or calculate differently the
Capital Structure Management Fee and the Capital Structure Incentive Allocation with
respect
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01384532.pdf
Hudson Bay Capital or its affiliates will reduce the Capital Structure
Management Fee and/or Incentive Allocation payable to Hudson Bay Capital or its
affiliates, as applicable, provided that where such ... Capital Structure Fund and the amount that is
attributable to Hudson Bay Capital and/or its affiliate will reduce, dollar-for-dollar, the
Capital Structure Management Fee and/or Incentive Allocation ... Hudson Bay Capital
and/or its affiliate would exceed the combined Capital Structure Management Fee and
Incentive Allocation, the amounts payable to such affiliate will be reduced so that there
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01384533.pdf
EFTA00295614Set 9
2012-12-3152p16,979w
income:
General Partner incentive allocation (4,152) 4,152
Net increase in partners' capital resulting from
operations 1,242,981 75,564 1,318,545
PARTNERS' CAPITAL — December ... partners.
4. ALLOCATION OF NET INCOME OR LOSS
Net income or loss, before management fees, is allocated to all partners in proportion to each partner's capital
account balance. Management ... these returns and ratios based on different management fees and incentive allocation
arrangements (as applicable) and the timing of capital transactions.
9. SUBSEQUENT EVENTS
Subsequent events through March
https://www.justice.gov/epstein/files/DataSet%209/EFTA00295614.pdf
EFTA01118864Set 9
46p21,591w
Profit, including the Incentive Allocation, or Net Loss for the
Fiscal Year in which dissolution occurs shall be allocated, and the Partners' Capital
Accounts shall be credited or charged ... Partners (other than in respect of their Capital Accounts in the Partnership); and then
to the Partners in proportion to their respective Capital Accounts, as adjusted pursuant
to paragraph ... investment or comparable issuers, subsequent
rounds of financing, recapitalizations and other transactions across the capital structure, offerings
in the equity or debt capital markets, changes in financial ratios or cash
https://www.justice.gov/epstein/files/DataSet%209/EFTA01118864.pdf
EFTA01097561Set 9
2008-12-3145p16,499w
based upon year-end capital balances are reflected as withdrawals
ed for which the dollar amount is not
The amount of capital subject to withdrawal notices receiv
Through the effective ... each upsize, the Partnership contributed additional assets into the CLO. To facilitate
the leveraged capital structure of the CLO, Bernard entered into an indenture (the "indenture")
pursuant to which it issued ... limited partners and (ii) making
any distribution to the General Partner with respect to incentive allocations relating to the 2008
fiscal year and future years. During 2008, the payable incurred
https://www.justice.gov/epstein/files/DataSet%209/EFTA01097561.pdf
EFTA00672561Set 9
2011-12-163p1,189w
years.
Typical Management Company Structure:
For many years, management companies of hedge funds have structured their businesses so
that one legal entity (often referred to as the "Investment Manager") receives ... partnership or limited liability company (the "General Partner"), receives an incentive
allocation from the hedge fund, consisting of capital gain income or other investment or
trading income (the "Incentive Allocation ... fees earned in New York City, but usually not on
Incentive Allocations. Such tax treatment of the Incentive Allocation was approved in a
statutory amendment to the UBT law more
https://www.justice.gov/epstein/files/DataSet%209/EFTA00672561.pdf
EFTA00236813Set 9
2014-06-3040p17,269w
Goldman Sachs Asset Management. He graduated from the College of William & Mary
capital allocation, evaluation of transactions and risk exceptions, and management of with a B.A. in economics.
the global ... Asia, at Barclays, responsible for senior relationships at capital markets from Tuck Business School.
the CEO and CIO level across capital markets and investment banking for the bank ... Capital, where applicable. All figures through 1997 are those of the Millennium Master Fund and are net of: (i) oasts of the Millennium Master Fund and (ii) a 20% incentive
https://www.justice.gov/epstein/files/DataSet%209/EFTA00236813.pdf
EFTA00314334Set 9
93p50,036w
will be calculated and
deducted from the withdrawal proceeds as described in
"SUBSCRIPTIONS, CAPITAL ACCOUNTS,
ALLOCATIONS, NET ASSET VALUATION."
Termination. Any Limited Partner who has submitted a
withdrawal request ... more favorable than) those set forth herein, including different investment
strategies and/or fee structures. The Partnership's investment objective and strategy with regard to the
Interests is set forth below ... incentive for them to build a portfolio that closely tracks their benchmark and thus prevents
underperformance to a degree which could jeopardize their established asset base versus an incentive
https://www.justice.gov/epstein/files/DataSet%209/EFTA00314334.pdf
EFTA01119567Set 9
2009-06-1050p26,600w
amount of capital allocated to the interest in the
"capital account" of the partnership, or the "liquidation value" of the
interestd1 Ignoring the minimal contributed capital, since the GP would ... overbroad
line-drawing problem by permitting "reasonable" allocations to capital to be
treated as capital gain while treating "unreasonable" allocations as ordinary
income." It also addresses the change in behavior ... clarity of the return on human
capital begins to blur. Human capital begets invested capital. which begets
invested capital. which begets invested capital. ad infinatum. Like conjoined
twins, delineation between
https://www.justice.gov/epstein/files/DataSet%209/EFTA01119567.pdf