Venator Founders Alternative Fund Announces Proposed Change Of Investment Objective

TORONTO, May 7, 2025 /CNW/ - Venator Founders Alternative Fund (the "Fund") announces its intention to seek unitholder approval to amend its investment objective and strategy, which, if approved, would benefit unitholders because it will provide a simpler, lower cost and lower fee structure for the Fund as well as introducing a "Hurdle" rate that the Fund must surpass to be eligible for performance fees.

The proposed changes to the investment objective of the Fund ("Investment Objective Change") will be voted on at a special meeting of unitholders to be held on May 29, 2025 in Toronto, Ontario at the offices of Venator Capital Management Ltd. (the "Manager"). The record date for the purpose of determining unitholders entitled to receive notice of, and vote at, the special meeting, is April 29, 2025.

In connection with the Investment Objective Change, the Fund will also change its name to "Venator Ascendant Alternative Fund", change the functional currency of the Fund to USD, reduce the management fees for Series A1, F and F1 and change the performance fees of Series A1, F and F1 Units from 20% of any gains in excess of the High Water Mark plus the aggregate amount of all distributions declared on such Units on the Performance Valuation Date to 10% of any gains in excess of the High Water Mark plus the aggregate amount of all distributions declared on such Units on the Performance Valuation Date AND in excess of the S&P 500 Total Return Index in USD. 

Full details regarding the proposed amendments are set out in a Management Information Circular that is made available to unitholders of record. Subject to unitholder approval, it is anticipated that the Investment Objective Change will be implemented on or about May 29, 2025. All costs and expenses associated with the special meeting and the Investment Objective Change will be borne by the Manager.

About Venator Capital Management Ltd.

Venator Capital Management Ltd. is a Toronto-based investment firm, founded in 2005, that strives to generate superior, risk-adjusted returns across its equity long/short, fixed income and quantitative Funds. Venator is registered with the Ontario Securities Commission as a Portfolio Manager, Investment Fund Manager and Exempt Market Dealer. For more information about Venator Capital Management Ltd. and our family of funds please visit venator.ca.

SOURCE Venator Capital Management Ltd.

CONTACT INFORMATION: Stephen Andersons, Venator Capital Management Ltd., [email protected], [phone]