Privacy Notice



Penso Advisors, LLC (“Penso”, “we or “us”) is by its very nature private, and we take very seriously our legal and ethical responsibility to guard the confidentiality of personal information about our investors. It is our policy not to disclose nonpublic personal information about our investors to non-affiliated third parties except as required by law or as otherwise necessary to perform its services as an investment manager for the funds and accounts it manages (“Funds”).  This notice (this “Privacy Notice”) sets forth the policies of Penso and the Funds for the collection, use, storage, sharing, disclosure (collectively, “processing”) and protection of personal data relating to current, prospective and former investors in the Funds. This Privacy Notice is being provided in accordance with the requirements of various data privacy laws, including the EU General Data Protection Regulation 2016/679 (“GDPR”), the US Gramm-Leach-Bliley Act of 1999, as amended (“GLBA”), or any other law relating to privacy or the processing and protection of personal data and any statutory instrument, order, rule or regulation implemented thereunder, each as applicable to Penso and the Funds (collectively, “Data Protection Law”). References to “you” or an “investor” in this Privacy Notice mean any investor (current, prospective or former) who is an individual, or any individual connected with an investor who is a legal person (each such individual, a “data subject”), as applicable.

The types of personal data we may collect and use

The categories of personal data we may collect include names, residential addresses or other contact details (including email address, phone number, and other similar electronic or social media contact information), signature, nationality, tax identification number, date of birth, place of birth, copies of identification documents, bank account details, information about assets or net worth, source of funds details or other sensitive information, such as certain special categories of data contained in the relevant materials or documents (“Sensitive Personal Data”). We generally only collect information useful in the process of an investor’s investment in any of the Funds. We do not actively collect any Sensitive Personal Data of individuals consisting of racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, genetic data, biometric data or data concerning health.

How we collect personal data

We may collect personal data about you through: (i) information provided directly to us by you, or another person on your behalf; (ii) information that we obtain in relation to any transactions between you and us; and (iii) recording and monitoring of electronic communications, which includes electronic communications with you, in accordance with our compliance and legal policies.

We also may receive your personal information from third parties or other sources, such as our affiliates, the Administrator, publicly accessible databases or registers, tax authorities, governmental agencies and supervisory authorities, credit agencies, fraud prevention and detection agencies, or other publicly accessible sources, such as the Internet.

Using your personal data: the legal basis and purposes

We may process your personal data for the purposes of administering the relationship between you and us (including communications and reporting), direct marketing of our products and services, monitoring and analyzing our activities, and complying with applicable legal or regulatory requirements (including anti-money laundering, fraud prevention, tax reporting, sanctions compliance, or responding to requests for information from supervisory authorities with competent jurisdiction over our business). Your personal data will be processed in accordance with Data Protection Law and may be processed with your consent, upon your instruction, or for any of the purposes set out herein, including the established lawful bases of processing under the GDPR, including where we or a third-party consider there to be a contractual necessity, legal obligation, vital interest, public interest or any other legitimate interest or other lawful purpose to do so.

Where personal data is required to satisfy a statutory obligation (including, for example, compliance with applicable anti-money laundering or sanctions requirements) or a contractual requirement, failure to provide such information may result in your subscription in the applicable Fund being rejected or compulsorily redeemed or withdrawn, as applicable. Where there is suspicion of unlawful activity, failure to provide personal data may result in the submission of a report to the relevant law enforcement agency or supervisory authority.

How we may share your personal data

Neither Penso or any Funds discloses any nonpublic or Sensitive Personal Data about the Funds’ current, prospective or former investors to any non-affiliated third parties except to appropriate service providers necessary to perform its services as an investment manager for the Funds, and counterparties for the Funds that have been advised as to proper handling of the information and otherwise as permitted or required by law and regulation.  Specifically, we may disclose information about you to our affiliates or third parties, including the Administrator, attorneys, prime brokers, custodians, the executing brokers and trading counterparties of the Funds and compliance consultants for Penso and its Funds for our everyday business purposes, such as to facilitate transactions, maintain your account(s) or respond to court orders and legal or regulatory examinations or investigations. It may also be necessary, under anti-money laundering and similar laws, to disclose information about the Funds’ investors in order to accept subscriptions or to facilitate the establishment of trading relationships for the Funds with executing brokers or other trading counterparties.

We may also share your information such as name, address and email address with our affiliates or service providers for direct marketing purposes in relation to your investment or potential investment, such as offers of products and services to you by us or our affiliates. You may prevent this type of sharing by contacting us as described below (see “Who to contact about this Privacy Notice”). 

Retention periods and security measures
We will endeavor to not retain personal nonpublic data or Sensitive Personal Data for longer than is necessary in relation to the purpose for which it is collected, subject to Data Protection Law. Personal data will be retained for the duration of your investment in any Fund, and for a minimum period of five to seven years after a redemption or withdrawal, as applicable, of an investment from such Fund, or liquidation of such Fund. We may retain personal data for a longer period for the purpose of marketing our products and services or as necessary for compliance with applicable law and other legal or regulatory obligations and considerations. From time to time, we will review the purpose for which personal data has been collected and decide whether to retain it or to delete if it no longer serves any purpose to us.

To protect your personal data from unauthorized access and use, we apply organizational and technical security measures in accordance with Data Protection Law. These measures include computer safeguards and secured files and buildings. We will notify you of any material personal data breaches affecting you in accordance with the requirements of Data Protection Law.

Your rights under Data Protection Law
You have certain rights under Data Protection Law, and specifically under GDPR, in relation to our processing and protection of your personal data and these are, generally: (i) the right to request access to your personal data; (ii) the right to request rectification of your personal data; (iii) the right to request erasure of your personal data (the “right to be forgotten”); (iv) the right to restrict our processing or use of personal data; (v) the right to object to our processing or use where we have considered this to be necessary for our legitimate interests (such as in the case of direct marketing activities); (vi) where relevant, the right to request the portability; (vii) where your consent to processing has been obtained, the right to withdraw your consent at any time; and (viii) the right to lodge a complaint with a supervisory authority. You should note that your right to be forgotten that applies in certain circumstances under GDPR is not likely to be available in respect of the personal data we hold, given the purpose for which we collect such data, as described above.

You may contact us at any time to limit our sharing of your personal information. If you limit sharing for Funds you hold jointly with someone else, your choices will apply to everyone you share an interest in such Funds. Other laws may give you additional rights to limit sharing.

Who to contact about this Privacy Notice
For any questions about this Privacy Notice or requests with regards to the personal data we hold, please contact (212) 688-8800 or email Penso’s Chief Compliance Officer, Leigh Waxman,

For more specific information or requests in relation to the processing of personal data by the Administrator, prime brokers, custodians or any other service provider of any Fund, you may also contact the relevant service provider directly or by visiting their websites. Information on this website or document is for informational purposes only and is not an offer or solicitation with respect to the purchase or sale of any security. SEC registration does not imply any level of skill or training or approval by the SEC. The investment products and services of Penso Advisors, LLC are only available to certain suitable investors. They are not available to retail customers. All Rights Reserved. Use of the Penso Advisors, LLC website is governed by the User Agreement and Cookie Policy. The content contained on this site is provided to users “AS IS” without any express or implied warranty. For information on your privacy, please read Penso Advisors  Privacy Notice. Past performance is not indicative of future results.