Diameter Capital Partners LP (“DCP”, the “Adviser”, the “Firm”, “we” or “our”) is a Delaware limited partnership and investment adviser with its principal place of business in New York, New York. The Firm was founded in February 2017, registered with the SEC on August 17, 2017 in connection therewith as an investment adviser, and commenced investment activities on September 1, 2017. The Firm was co-founded by Scott Goodwin and Jonathan Lewinsohn, both of whom are Managing Partners and Portfolio Managers for global investing and are responsible for Firm-wide strategy. Messrs. Goodwin and Lewinsohn indirectly own and control DCP through certain partnerships/limited liability companies. In September 2022, DCP opened an office in West Palm Beach, Florida. In June 2022, Diameter Capital Partners (UK) LLP (“DCP UK”), an indirect, wholly-owned subsidiary of DCP, began operating in London, England. DCP UK has an office located at 21-23 Hill Street, London W1J 5LW, UK. DCP is a global credit asset manager that provides investment advisory services on a discretionary basis to its clients (the “Advisory Clients”), which include pooled investment vehicles that are structured as evergreen investment funds, closed-end drawdown investment funds, customized funds for co-investments or other special opportunities, and structured credit vehicles consisting of collateralized debt obligations and collateralized loan obligations for which the Firm acts as collateral manager, in each case, intended for sophisticated investors that are able to bear the risk of loss. Diameter Principal Finance LLC (“BDC Adviser”), a newly formed investment adviser, has commenced operations providing investment advisory services to Diameter Credit Company (the “Diameter BDC”), a Delaware statutory trust that has elected to be regulated as a business development company under the Investment Company Act of 1940. The BDC Adviser registered with the SEC as an investment adviser in October 2023. The BDC Adviser is an indirect, wholly-owned subsidiary of Diameter Capital Partners LP. The BDC Adviser was formed for the purpose of serving as investment adviser to the Diameter BDC and does not serve as investment adviser to any other DCP-affiliated entity. This brochure is intended to cover the investment advisory activities of DCP and all of its investment advisory affiliates, except for the BDC Adviser, which files a separate Form ADV. The Diameter BDC files periodic reports with the SEC under the U.S. Securities Exchange Act of 1934 (the “Exchange Act”). Evergreen Investment Funds:
• Diameter Onshore Fund LP, Diameter Offshore Fund LP and Diameter Offshore Fund II Ltd., each are feeder funds that invest substantially all their assets through a single master fund, Diameter Master Fund LP (collectively, the “Evergreen Funds”). Closed-End Investment Funds:
• Diameter Dislocation Onshore Fund LP, Diameter Dislocation Intermediate Fund LP and Diameter Dislocation Offshore Fund LP (through its investment in Diameter Dislocation Intermediate Fund LP) are feeder funds that invest substantially all their assets through a single master fund called Diameter Dislocation Master Fund LP (collectively, the “Dislocation I Funds”).
• Diameter Dislocation Onshore Fund II LP and Diameter Dislocation Offshore Fund II LP are feeder funds that invest substantially all their assets through a single master fund called Diameter Dislocation Master Fund II LP (collectively, the “Dislocation II Funds” and, together with the Dislocation I Funds, the “Dislocation Funds”).
• DCMALT LP is a standalone fund-of-one (the “DCMALT Fund”).
• DCP IG Fund LP is a standalone fund-of-one (the “IG Fund”).
• DCP Tree LP is a standalone fund-of-one (“Tree Fund”, together with the IG Fund, the DCMALT Fund, the Evergreen Funds and the Dislocation Funds, the “Funds”). Direct Lending Vehicles:
• DLF I LLC is a standalone fund-of-one with a specialized investment strategy focused on private capital (“DLF”).

• DPRR Fund I LP is a standalone fund-of-one with a specialized investment strategy focused on private capital (“DPRR”).
• DPF LP may act as the investment manager to additional investment vehicles focused on direct lending in the future (together with DLF and DPRR, the “Direct Lending Vehicles”). Additional future Advisory Clients will be subject to investment objectives, management fees and performance-based compensation and other terms that are specific to each future Advisory Client and as set forth in the applicable governing documents of the future Advisory Client. Structured Credit Vehicles:
• The Firm acts as collateral manager to collateralized debt obligation structures pursuant to collateral management agreements. These CDOs are Diameter Credit Funding I, Ltd, Diameter Credit Funding II, Ltd, Diameter Credit Funding III, Ltd and Diameter Credit Funding IV, Ltd (collectively, the “CDOs”).
• The Firm acts as collateral manager to collateralized loan obligation structures pursuant to collateral management agreements. These CLOs are Diameter Capital CLO 1 Ltd., Diameter Capital CLO 2 Ltd. Diameter Capital CLO 3 Ltd., Diameter Capital CLO 4 Ltd., Diameter Capital CLO 5 Ltd. and Diameter Capital CLO 6 Ltd. (collectively, the “CLOs”). The Firm acts as an investment manager to the Funds pursuant to investment management agreements. Diameter Associates LLC (the “General Partner”) serves as general partner of the Funds that have been organized as limited partnerships. The Firm has also established and may in the future continue to establish, customized investment funds with narrow investment strategies than the Funds and that may have different material terms, including fees, rights and liquidity rights than the Funds. DCP generally has broad and flexible investment authority with respect to the investment portfolios that it manages for its clients. The Firm provides investment advisory services to its Advisory Clients with respect to a wide range of investments including: investments in long and short positions in securities issued by U.S. and international high yield issuers and related instruments; investments in distressed/special situation opportunities across capital structures and market capitalizations; investments in the broader credit markets, including corporate and sovereign fixed income securities such as investment grade bonds, high yield bonds; loans; credit default swaps; structured credit instruments; investments in derivatives and other hedging instruments including, but not limited to: options, foreign exchange, commodities and swaptions and constant maturity swaps; trade claims; and publicly traded and private equities. As a general matter, the Firm does not tailor advisory services to the individual needs of investors in the Funds, CDOs or CLOs, but the Firm has established and may continue to establish customized investment funds which are subject to different investment objectives, restrictions and terms than those of the Funds, CDOs and CLOs. DCP may establish additional private investment funds in the future, structured as evergreen investment funds, draw- down harvest funds, funds with specialized investment strategies to take advantage of market opportunities or overflow opportunities with sizing, funds-of-one and/or other customized investment vehicles, for one or more investors. DCP may establish separately managed accounts for future strategies. DCP intends to act as collateral manager for additional CDOs or CLOs in the future. Additional future advisory clients will be subject to investment objectives, fee and incentive allocation and withdrawal terms that are specific to each future advisory client and as set forth in the applicable governing documents of the future clients. As of December 31, 2023, DCP has $17,785,943,960 in regulatory assets under management. DCP manages all of these assets on a discretionary basis and does not currently manage any assets on a non-discretionary basis.