HG VORA CAPITAL MANAGEMENT, LLC

HG Vora commenced operations in April 2009 to provide investment management services primarily to pooled investment vehicles. The firm is focused on event-driven and value-oriented strategies, investing primarily in actively traded debt and equity instruments on a long and short basis. They also invest in less liquid opportunities for certain clients. The firm currently provides discretionary investment advisory services to twelve pooled investment vehicles, referred to as "Funds," including HG Vora Special Opportunities Fund LP. They also provide investment advisory services to separately managed accounts, tailored to each client's needs through a written agreement that may include investment restrictions. HG Vora does not participate in any wrap fee programs.

The investment strategies involve opportunistically investing in actively traded equity and debt instruments on a long and short basis, focusing on event-driven and value-oriented opportunities. The firm seeks to identify undervalued investments through fundamental research and analysis, including financial statement analysis, meetings with company management, and industry research. They also monitor potential events such as restructurings, regulatory changes, and merger transactions. For specific funds like the Opportunistic Capital Fund and Opportunistic Capital II Fund, the strategy focuses on less liquid opportunities in a concentrated portfolio, aiming to exploit valuation inefficiencies in complex, misunderstood, or underfollowed companies. These investments often involve businesses with over-leveraged balance sheets, operational challenges, or undergoing restructuring. The funds primarily invest in negotiated financings and distressed securities, capitalizing on market dislocations. A long-term investment strategy may forego short-term value to maximize long-term opportunities.

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