Overview
Lancaster Investment Management LLP (hereinafter, the “Firm”) is a limited liability
partnership formed under English law on 22 August 2007, founded by Matthew Wood and
James Roycroft.
The Firm is an asset management company with its principal place of business in London,
United Kingdom. Lancaster Investment Services Limited is the managing member of the
Firm and is a wholly owned subsidiary of Lancaster Management (Jersey) Limited. These
entities are collectively known as “Lancaster”.
The Firm currently provides investment advisory and management services on a
discretionary basis, to qualified investors, through the following private funds:
▪ The Lancaster European LS Equity Master Limited; and
▪ The Lancaster European Equity Master Limited.
(Collectively, the “Master Funds”).
There are Investment Management Agreements in place between the Firm and the Master
Funds.
Various other funds (“Feeder Funds”) invest all their investible assets in the ordinary
shares of the Master Funds, as outlined in Table 1 below.
Table 1 - Feeder Funds
Feeder fund Incorporated Invests in General Partner
Lancaster European
LS Equity Limited
Cayman Islands
(limited liability
company)
Lancaster European LS
Equity Master Limited
N/A
Lancaster European
Equity Limited
Cayman Islands
(limited liability
company)
Lancaster European
Equity Master Limited
N/A
Lancaster European
Equity LP
Delaware (limited
partnership)
Lancaster European
Equity Master Limited
LAE General
Partners Limited
Both Master Funds are exempted companies incorporated with limited liability in the
Cayman Islands,
each registered as a regulated mutual fund with the Cayman Islands
Monetary Authority (“CIMA”).
LAE General Partners Limited (the “General Partner” of Lancaster European Equity LP) is a
company incorporated with limited liability under the laws of the Cayman Islands and
owned by Lancaster Management (Jersey) Limited.
The Feeder Funds and Master Funds are herein collectively referred to as the “Investment
Vehicles” or “Funds”. The Funds are Lancaster’s “Clients”.
The Funds are managed in accordance with each Investment Vehicles' investment
objectives, strategies, restrictions and guidelines. Each Fund is managed only in accordance
with its own characteristics and is not tailored to any particular private fund investor (each,
an “Investor”), Information about each Fund can be found in the Funds’ offering
documents, including its prospectuses or confidential private offering memoranda
(“Offering Memoranda”).
The Firm is authorised and regulated by the Financial Conduct Authority (“FCA”) in the
United Kingdom, under Firm Reference Number being 472385.
Lancaster Investment Management LLP is wholly owned by its members, which includes a
majority interest (greater than 75%) held by Lancaster Investment Services Limited, which,
in turn, is wholly owned by Lancaster Management (Jersey) Limited. Lancaster
Management (Jersey) Limited is owned by Matthew Wood (63.54%), James Roycroft (26.47%)
with the balance held by an independent investor.
Regulatory Assets Under Management
As of 31 March 2023, the Firm managed approximately USD $1,425million (regulatory assets
under management) managed on a discretionary basis.