Overview
Founded in 2008, Ardea Investment Management Pty Limited (“Ardea” or the “Firm”) is one of Australia’s largest fixed
income managers. Located in Sydney, the Firm is primarily employee owned, with Fidante Partners (“Fidante”)
maintaining a strategic position. The Firm is regulated by the Australian Securities and Investment Commission as well
as being registered with the U.S. Securities and Exchange Commission (“SEC”) as an investment adviser. The Firm is a
long term, fundamentally driven, value investor with a focus on liquidity and diversification.
Advisory Services
Ardea provides investment advisory services on a discretionary basis to offshore pooled investment vehicles (the
“Offshore Funds”) and non-US separately managed accounts (the “SMAs”). Ardea also acts as a sub-adviser to one open-
end investment company registered under the Investment Company Act of 1940 (the “US Client”). An unaffiliated
manager serves as the investment adviser of the US Client. The Offshore Funds and SMAs, together with the US Client,
are referred herein each as a “client” and collectively as the Firm’s “clients.”
Certain personnel of a non-U.S. affiliate of the Firm provide investment advice and other services to the
US Client,
pursuant to a participating affiliate agreement. This affiliate, Ardea Investment Management (UK) Limited, is deemed to
be a “Participating Affiliate” of the Firm and such personnel are deemed to be “Associated Persons” of the Firm. The
Participating Affiliate is not separately registered as an investment adviser in reliance on an SEC No-Action Letter (Uniao
de Bancos de Brasileiros S.A., pub. avail. July 28, 1992) and related SEC guidance.
The investment objective and strategy for each client is fully described in the relevant offering document or investment
management agreement. Ardea’s investment advisory services are provided directly to the Offshore Funds and US Client
and are not tailored to any individual underlying investors of these clients. The Firm manages the SMAs in accordance
with negotiated guidelines and restrictions regarding investments and other investment criteria. These guidelines and
restrictions are reflected in the investment management agreement between the Firm and the SMA.
The US Client is currently the only client in which US investors may invest.
The total amount of assets managed on a discretionary basis is approximately $15,022,536,212. The Firm does not
manage any assets on a non-discretionary basis.