Overview
PAR Capital Management, Inc. (the “Adviser”) is a Delaware corporation that was organized in
March 1992 to serve as the investment adviser to PAR Investment Partners, L.P., a Delaware
limited partnership (the “Partnership”). The general partner of the Partnership is PAR Group II,
L.P. (“PAR Group”), and the Adviser is the general partner of PAR Group. The principal owner
of the Adviser is Paul A. Reeder, III. As of December 31, 2023, Steven M. Smith and Marc
Zimman are also shareholders of the Adviser. Certain employees of the Adviser may also invest
in PAR Group.
The Adviser does not act as investment adviser to any person or entity other than the Partnership
and
PAR Group conducts no business other than acting as general partner to the Partnership.
The Partnership’s investment objectives are set forth in its offering documents. Investors in the
Partnership do not have the ability to impose specific investment objectives or restrictions on the
Partnership.
As of December 31, 2023, the Adviser managed approximately $1,706,151,567 of assets on
behalf of the Partnership, after taking into account year-end withdrawals. This amount
represents the approximate “net asset value” of the Partnership, and not the “regulatory assets
under management,” as of such date. All assets of the Partnership are managed on a
discretionary basis.