ADVISORY BUSINESS  
Jet Capital Investors,  L.P. ("Jet Capital"), a Delaware limited partnership, has 
been providing investment management services to private investment funds that are offered 
to investors on a private placement basis since 2002.  Matthew Mark and Alan S. Cooper are 
the principal owners of Jet Capital.  Currently, Jet Capital provides investment management 
services to Jet Capital Concentrated Fund, L.P. (the "Concentrated Domestic Fund") and Jet 
Capital  Concentrated  Offshore  Fund,  Ltd.,  a  Cayman  Islands  exempted  company  (the 
"Concentrated  Offshore  Fund")  which  invests  all  or  substantially  all  of  its  assets  in  the  Jet 
Capital  Intermediate  Fund,  LP  (the  “Intermediate  Fund”),  a  Cayman  Islands  exempted 
limited  partnership.  The  Concentrated  Domestic  Fund  and  the  Concentrated  Offshore  Fund 
directly or  indirectly invest in Jet Capital Master Fund, LP (the "Concentrated Master Fund" 
and,  together  with  the  Concentrated  Domestic  Fund,  Concentrated  Offshore  Fund  and  the 
Intermediate  Fund,  the  "Concentrated  Funds"),  a  Cayman  Islands  exempted  limited 
partnership.   Jet  Capital  Management,  L.L.C.  (the  "General  Partner")  serves  as  the  general 
partner  to  the  Concentrated  Domestic  Fund,  Intermediate  Fund  and  Concentrated  Master 
Fund. 
Jet Capital also provides investment management services to Jet Capital Select 
Opportunities  Fund,  L.P. (the  "Select Domestic Fund") and Jet Capital Select Opportunities 
Offshore  Fund,  Ltd.,  a  Cayman  Islands  exempted  company  (the  "Select  Offshore  Fund") 
which  invests  all  or  substantially  all  of  its  assets  in  the  Jet  Capital  Select  Opportunities 
Intermediate Fund, LP (the “ Select Intermediate Fund”), a Cayman Islands exempted limited 
partnership.  The Select Domestic Fund and the Select  Offshore   Fund directly or indirectly 
invest  in  Jet  Capital  Select  Opportunities  Master  Fund,  LP  (the  "Select  Master  Fund"  and, 
together with the Select Domestic Fund, Select Intermediate Fund and Select Offshore Fund, 
the  "Select  Funds"),  a  Cayman  Islands  exempted  limited  partnership.   The  General  Partner 
serves  as  the  general  partner  to  the  Select  Domestic  Fund,  Select  Intermediate  Fund  and 
Select Master Funds. 
The Concentrated Funds together with the Select Funds are collectively known 
as the “Funds”.   
In  addition,  Jet  Capital  has  been  appointed  as  the  investment  adviser  with 
discretionary  trading  authorization  and  also  provides  discretionary  advisory  services  for 
separately  Sub-Advised  Fundssub-advised  funds  (the  "Sub-Advised  FundsSub-Advised 
Funds" and, together with the Funds, the "Clients").   
Jet  Capital  has  full  discretionary  authority  with  respect  to  investment 
decisions, and its advice is made in accordance with the investment objectives and guidelines 
as  set  forth  in  each  Fund's  offering  memorandum.    Similarly,  Jet  Capital's  investment 
decisions  and  advice  with  respect  to 
                                        
                                        
                                             Sub-Advised  Funds  shall  be  in  accordance  with  each 
Client's  investment  objectives  and  guidelines  in  each  Client's  investment  management 
agreement.   
 
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This Brochure does not constitute an offer to sell or solicitation of an offer to 
buy any  securities.  Persons reviewing this Brochure should not construe this as  an offer to 
sell or solicitation of an offer to buy the securities of any of the Funds described herein.  Any 
such  offer  or  solicitation  will  be  made  only  by  means  of  a  confidential  private  placement 
memorandum. 
 
Jet Capital, on behalf of its Clients, pursues merger arbitrage, capital structure 
arbitrage  and  event  oriented  trading  strategies.    Please  see  Item  8  for  a  more  detailed 
description of Jet Capital's investment strategies.  The descriptions set forth in this Brochure 
of  specific  advisory  services  that  Jet  Capital  offers  to  Clients,  should  not  be  understood  to 
limit in any way Jet Capital's investment activities.  Jet Capital may, in the future, offer any 
advisory  services,  engage  in  any  investment  strategy  and  make  any  investment  that  Jet 
Capital  considers  appropriate,  subject  to each  Client's  investment  objectives  and  guidelines.  
The  investment  strategies  Jet  Capital  pursues  are  speculative  and  entail  substantial  risks.  
Clients  should  be  prepared to  bear a  substantial  loss  of  capital.   There can  be  no  assurance 
that the investment objectives of any Client will be achieved. 
 Business Continuity Plan Activate in response to COVID-19.  As of the date of  
this Brochure, the Firm continues to operate  its business continuity plan in response to 
COVID-19.  We are taking these steps to protect our employees while ensuring business 
continuity: 
 Restricting non-essential business travel  
 Recommending employees avoid large, in-person gatherings 
 Closing our office and requiring our employees to work from home when applicable , 
as requested by state and local authorities 
 Conducting all client and firm meetings via teleconference or videoconference  
Our Business Continuity Plan 
Our Firm’s business continuity plan is designed to meet the needs of our clients and minimize 
potential disruption in services during an emergency or disaster. The protocols and 
capabilities within the plan include: 
 Sufficient technical infrastructure and network capacity to support employees working 
from home in specific areas, or companywide  
 Secure, remote access for all employees 
 Tele & Videoconference capability in place for employees 
 Redundancy capabilities within each of our business units 
Jet Capital manages approximately $360 million in assets as of December 31, 
2022 on a discretionary basis, which is determined based on the net asset value of the Funds 
and  Sub-Advised  Funds  under  management.    Jet  Capital  does  not  manage  any  assets  on  a 
non-discretionary basis as of December 31, 2022. 
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