Courage Special Situations

We seek to generate equity-like returns through investments in debt and equity securities with a low net market exposure.

Overview

Courage Special Situations has an extensive track record of opportunistic, contrarian, and deep value investing in credit and equities. The team's expertise "up and down" the capital structure affords us the ability to structure investments creatively to establish a favorable, asymmetric risk to return profile.

Strategy

The Courage Special Situations strategy draws upon the team's access to a differentiated and robust network of industry, operational, financial, and restructuring professionals to source unique opportunities where we can gain an edge through extensive fundamental research and deep due diligence.

Approach

Courage’s approach targets securities of mostly small- and mid-cap U.S. companies and maintains flexibility with regard to investing across a company's capital structure. The Courage Special Situations strategy will invest both long and short and is opportunistic, value-biased, and often contrarian. We strive to build a differentiated portfolio with a low correlation to the broader markets and other managers.

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Personal Information We Collect

We collect personal information about you in connection with our providing advisory services to you. This information includes your name, address, and social security number and may include other information such as your:

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  • Wire transfer instructions

How We Collect This Information

We collect this information from you through various means. For example, when you give us your contact information, enter into an investment advisory contract with us, buy securities (i.e., interests in a fund) from us, tell us where to send money, or make a wire transfer. We also may collect your personal information from other sources, such as our affiliates1 or other nonaffiliated companies. Only employees with a valid business reason have access to your personal information. We train our employees on safeguarding your confidential information as well as provide data security awareness training.

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All financial companies need to share customers’ personal information to run their everyday business and we use the personal information we collect from you for our everyday business purposes. These purposes may include for example:

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  • To market products and services to you
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Disclosure To Others

We may provide your personal information to our affiliates and to firms that assist us in servicing your account and have a need for such information, such as a broker, fund administrator, auditor, tax advisor, and legal counsel. We require third-party service providers to protect the confidentiality of your information and to use the information only for the purposes for which we disclose the information to them. These sharing practices are consistent with U.S. federal privacy, certain state privacy and related laws, and in general, you may not limit our use of your personal information for these purposes under such laws. We note that the U.S. federal privacy laws only give you the right to limit the certain types of information sharing that we do not engage in (e.g., sharing with our affiliates certain information relating to your transaction history or creditworthiness for their use in marketing to you, or sharing any personal information with nonaffiliates for them to market to you).

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To protect your personal information from unauthorized access and use, we use security measures that comply with U.S. federal law. These measures include designing and implementing a security control environment that follows the NIST framework. We restrict access to nonpublic personal information to our employees who need to know such information in order to provide services to you. All Courage files containing personal information are secured through our electronic firewalls, building security access, and reasonable restrictions to accessing physical and electronic records.

Who Is Providing This Privacy Notice

This Privacy Notice relates to all investors in private funds managed and advised by Courage Capital Management, LLC.

Who To Contact With Questions

If you have any questions about this Privacy Notice, email us at information@couragecap.com or visit www.couragecap.com.

1Our affiliates are companies related to us by common ownership or control and can include both financial and nonfinancial companies. Non-affiliates are companies not related to us by common ownership or control and can include both financial and nonfinancial companies.

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