This document is approved and issued by RiverCrest Capital (“RiverCrest”) which is a trading name of Pacific Capital Partners Limited (“PCP or the “Manager”) which is authorised and regulated by the Financial Conduct Authority. PCP is registered under company number 2849777 and the office of 124 Sloane Street, London SW1X 9BW.
Before making an investment decision with respect to RiverCrest Global Equity Fund (the “Fund”) managed by the Manager, potential investors are advised to read carefully the respective offering documents (including any relevant underlying agreements) and the related subscription documents regarding the Fund, and to consult with their tax, legal, ERISA and financial advisors.
This document is being provided to you on a confidential basis solely to assist you in deciding whether or not to proceed with a further investigation of the Fund. Accordingly, this document may not be reproduced in whole or part, and may not be delivered to any person without the consent of the Manager.
Nothing set forth herein shall constitute an offer to sell any securities or constitute a solicitation of an offer to purchase any securities. Any such offer to sell or solicitation of an offer to purchase shall be made only by formal offering documents, which may include, among others, a confidential offering memorandum, limited partnership agreement, subscription agreement and related subscription documents. Such formal offering documents contain additional information not set forth herein, which such additional information is material to any decision to invest in the Fund.
The confidential offering memorandum contains additional information, including information regarding certain risks of investing which are material to any decision to invest in the Fund. No information is warranted by the Manager or its affiliates or subsidiaries as to completeness or accuracy, express or implied, and is subject to change without notice. This document contains forward-looking statements, including observations about markets and industry and regulatory trends as of the original date of this document. Forward-looking statements may be identified by, among other things, the use of words such as “expects,” “anticipates,” “believes,” or “estimates,” or the negatives of these terms, and similar expressions. Forward-looking statements reflect the Manager’s views as of such date with respect to possible future events. Actual results could differ materially from those in the forward-looking statements as a result of factors beyond the Fund’s control. Investors are cautioned not to place undue reliance on such statements. No party has an obligation to update any of the forward-looking statements in this document. These materials should only be considered current as of the date of publication without regard to the date on which you may receive or access the information. The Manager maintains the right to delete or modify information without prior notice. The risk management practices and methods described herein are for illustrative purposes only and are subject to modification.
Charts, tables and graphs contained in this document are not intended to be used to assist the reader in determining which securities to buy or sell or when to buy or sell securities. Statements made herein that are not attributed to a third party source reflect the views and opinions of the Manager. Return targets or objectives, if any, are used for measurement or comparison purposes and only as a guideline for prospective investors to evaluate a particular investment program’s investment strategies and accompanying information. Targeted returns reflect subjective determinations by the Manager based on a variety of factors, including, among others, internal modeling, investment strategy, prior performance of similar products (if any), volatility measures, risk tolerance and market conditions. Performance may fluctuate, especially over short periods. Targeted returns should be evaluated over the time period indicated and not over shorter periods. Targeted returns are not intended to be actual performance and should not be relied upon as an indication of actual or future performance. The past performance of the Manager, its principals, members, or employees is not indicative of future returns. The performance reflected herein and the performance for any given investor may differ due to various factors including, without limitation, the timing of subscriptions and redemptions, applicable management fees and incentive allocations, and the investor’s ability to participate in new issues.
The document contained in this document is for background purposes only and does not purport to be full or complete. Nor does this document constitute investment advice. Persons receiving or reviewing this document are expressly warned of the requirement to form their own assessment. No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained in this document by RiverCrest, PCP or any of its or their partners, directors, officers, shareholders or employees and no liability is accepted by such persons for the reliability, accuracy or completeness of any information or opinions. As such, no reliance can be placed on the information and opinions contained in this document.
This document is only being directed to persons who are legally able to receive it in the jurisdiction in which they are situated and no one else should place any reliance on this document whatsoever. This document is a marketing communication and is intended solely for distribution to professional clients, eligible counterparties and those persons to whom the promotion of UCIS is permitted under the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 and COBS4.12 of the FCA’s Handbook. This document is not aimed at persons who are residents of any country, including the United States of America (“USA”) and South Africa, where the Fund referred to herein is not registered or approved for marketing and/or sale or in which the dissemination of information on the Fund or services is not permitted. The Fund is not registered under the US Securities Act 1933, nor is it registered under the Investment Company Act of 1940. Consequently, it cannot be publicly offered for sale or be sold in the USA, its territories, possessions or protectorates under its jurisdiction, nor to nationals, citizens or residents in any of those areas. Many of the protections provided by the United Kingdom regulatory structure may not apply to investments in this Fund, including access to the Financial Services Compensation Scheme and the Financial Ombudsman Service.
This document is qualified in its entirety by reference to the offering memorandum, memorandum and articles of association or other constitutional documents and subscription agreement relating to the purchase of interests in the Fund, all of which are available upon request from RiverCrest or the Fund’s administrator and should be reviewed carefully prior to making an investment decision. The specific terms of an investment in the Fund are subject to these offering materials. Such terms may change from the time you receive these materials and the time you receive the offering documents.
No representation is made that any investor will or is likely to achieve results comparable to those shown or will make any profit or will be able to avoid incurring substantial losses. Performance variances for certain investors may occur due to various factors, including timing of investment and eligibility to participate in new issues. Investment return will fluctuate and may be volatile, especially over short time horizons. There is no guarantee that the Manager will be successful in achieving the Fund’s investment objectives. An investment in the Fund contains risks, including the risk of complete loss.
Any financial benchmarks or indices shown are unmanaged, assume reinvestment of income and do not reflect the impact of any management or performance fees. The instruments traded by the Fund are not limited to the instruments comprising any index. There are limitations in using financial indices for comparison purposes for the foregoing and because such indices may have different volatility, diversification, credit and other material characteristics (such as number or type of instrument or security).
The HFRX Equity Hedge Index (“HFRX”) is referred to only because it represents an index typically used to gauge the general performance of US and non-US hedge funds investing primarily in equity and equity derivative securities. The MSCI All-Country World Index (“ACWI”) is referred to only because it represents an index typically used to gauge the general performance of the equity markets in both developed and emerging markets. The use of these indices is not meant to be indicative of the asset composition, volatility or strategy of the portfolio of securities held by the Fund. The Fund’s portfolio may or may not include securities which comprise the HFRX and the ACWI, will hold considerably fewer than the number of different securities which comprise the HFRX and ACWI, and engages or may engage in strategies not employed by the indices including, without limitation, short selling and utilizing leverage. As such, an investment in the Fund should be considered riskier than an investment in the HFRX and ACWI.
Where returns for parts of the portfolio are stated, including but not limited to single positions, geography, theme, strategy or direction (long/short), these are stated gross of all fees and expenses other than trading costs.