Red Cedar Investment Management, LLC (“Red Cedar”) is an investment adviser registered with
the U.S. Securities and Exchange Commission (“SEC”). Red Cedar became registered as an
investment adviser in May 2014. Registration does not imply a certain level of skill or training.
Red Cedar provides discretionary investment management services to institutional clients,
including pension and retirement plans, registered investment companies, corporations, and
foundations.
Red Cedar is majority owned by Bridge & Vine, LLC (“Bridge & Vine”) with 51% ownership,
and is also owned by T4G Management LLC (“T4GM”) with 49% ownership. Bridge & Vine is
owned by Red Cedar employees. T4G Management LLC is owned by The 4100 Group, Inc.
(“4100 Group”) which is owned by Delta Dental Plan of Michigan, Inc. (“Delta Dental of
Michigan”), a Michigan non-profit dental care corporation, and Delta Dental Plan of Ohio, Inc.
(“Delta Dental of Ohio”), an Ohio non-profit health insuring corporation. Delta Dental of Ohio is
controlled by Delta Dental of Michigan, which in turn is a wholly owned subsidiary of
Renaissance Health Services Corporation (“RHSC”).
Investment Management Services
Red Cedar provides discretionary investment management services to institutional client
portfolios based on the client’s investment objectives and investment restrictions as described in
each client’s investment advisory agreement and Investment Policy Statement. (“IPS”). In
connection with the development of the IPS, Red Cedar will consider reasonable client requests
regarding investment restrictions and will tailor its advice based on the applicable base asset
allocation models. Red Cedar also considers applicable regulatory requirements as
communicated by the client when managing its account. In general, Red Cedar manages client
accounts according to a valuation-based asset allocation model developed by its Investment
Committee.
The asset allocation models will generally be implemented through the use of one, or a
combination of, the following types of investments: Exchange Traded Funds (“ETFs”), mutual
funds, exchange-traded equity securities, fixed income securities and the allocation of a portion
of account assets to be managed by one or more third party investment advisers (“third party
managers”). Additionally, Red Cedar will utilize, as mutually agreed upon with a client, other
security types, such as money market funds and other short-term financial instruments, for all or
a portion of a client’s account(s). These arrangements are detailed in the client’s
investment
advisory agreement and/or IPS.
Red Cedar enters into investment management agreements with third party managers whereby
the third-party manager is engaged to sub-advise a portion of a client(s) assets as directed by Red
Cedar. Whenever a portion of client assets are allocated to a third-party manager as part of a
client’s asset allocation, Red Cedar performs periodic due diligence of the manager(s) and
monitors clients’ accounts to ensure the third-party managers are managing each client’s assets
in accordance with the client’s investment advisory agreement and IPS. Red Cedar’s agreement
with the client grants Red Cedar the authority to hire or fire these managers on behalf of the
client.
Mutual Fund Portfolio Management
Red Cedar serves as the sub-adviser to the North Square Preferred and Income Securities Fund
and North Square Strategic Income Fund (the “Mutual Funds”). The North Square Preferred and
Income Securities Fund and North Square Strategic Income Fund are each a series portfolio of
the North Square Investments Trust, an open-end investment company under the Investment
Company Act of 1940.
Further information is available in each Mutual Fund’s Prospectus and Statement of Additional
Information (“SAI”). These documents are available by calling 855-551-5521.
Private Fund Portfolio Management
Red Cedar serves as the investment adviser to the Red Cedar Strategic Income SRI, LP (the
“Private Fund”). The Private Fund is a Delaware limited partnership offering limited partnership
interests in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as
amended, Rule 506(b) of Regulation D, promulgated thereunder, and the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
Non-Supervised Assets
A client may request that Red Cedar include certain securities and investment products not
managed by Red Cedar in their account; however, these investments will be designated as
non-supervised. It is the client’s responsibility to notify Red Cedar in writing of any
changes, modifications or instructions with respect to non-supervised assets. Red Cedar
will not monitor, provide advice or take any investment action with respect to any non-
supervised assets. No fees are charged on non-supervised assets and they are not included
in any calculations of assets under management.
Assets Under Management
As of December 31, 2023, Red Cedar had assets under discretionary management of
approximately $1,628,447,738 and assets under non-discretionary management of $0.