Privacy Policy & Practices

New 2ND Capital recognizes and respects the privacy expectations of our customers. This Notice of Privacy Policy & Practices (the “Notice”) relates to the privacy practices of New 2ND Capital and of each of the private investment funds advised by New 2ND Capital (each, a “Fund”) with regard to the processing of our existing, former and prospective customers’ personal information. You may also know or refer to personal information as “personal data”, “personally identifiable information”, “PII” or other similar terms, and personal information may in certain countries also include opinions about an individual, whether or not the opinion is true or recorded in a material form.

Depending on where you are located, the Funds’ processing of your personal information may be subject to various applicable data protection and privacy laws. In their processing of your personal information, the Funds are characterized as a “data controller”, a “controller”, a “business”, an “accountable entity” or an “organization” for the purposes of some or all of these laws.

For purposes of this notice, but not U.S. law generally, the terms “customer” or “customers” include both (i) individuals who have a continuing relationship with the funds managed by New 2ND Capital Advisors, L.P. (the “Funds”) (e.g., by holding a Fund interest in the Fund) and (ii) individuals who provide personal information to the Funds, but who do not have a continuing relationship with the Funds (e.g., an individual who provides such information in deciding whether to become a partner in the Funds, whether or not the individual establishes a continuing relationship with the Funds).

This Notice describes what personal information we process about customers and why, how we collect that information and the measures we have taken to protect the confidentiality, integrity and security of personal information relating to customers. It also describes the limited extent to which we may share that information with affiliates and non-affiliated third parties of the Funds, and the rights you may have in respect of your personal information.

Collection of Personal Information

The Funds collect and process or otherwise verify the following personal information about customers, to the extent that such information is subject to applicable national, state or federal law:

  • Contact information, such as your name, address, email address and telephone numbers;
  • Employment information, such as your job title, place of work, compensation and work history;
  • Identification information, such as your signature, date of birth, social security (or national insurance or similar) number, proof of address, driver’s license, passport and other government identification information and/or numbers;
  • Background information, such as information needed for or revealed by know-your-customer, fraud, terrorist financing, sanctions and anti-money laundering checks, investor due diligence, accreditation and consents; and
  • Financial information and account history, such as information about your assets, income, net worth, amounts and types of investment, profit and loss allocations, capital account balances, commitments, withdrawals, redemptions, subscriptions and contributions, account data, other investment participation information, fund transfer information, beneficiaries, positions, percentages of fund, share or option numbers and values, vesting information, investment history, and transaction and tax information.

Please notify us of any significant changes in your personal circumstances as soon as they occur (e.g., change of name, address, contact information, etc.).

Sources of Personal Information

We collect your personal information from the following sources:

  • Your, or your employer’s, financial intermediary’s and/or designated representative’s correspondence, interactions and transactions with us, or our affiliates or others, including by letter, email, telephone, and our websites, and through information provided on subscription agreements, investor questionnaires, partnership agreements, applications and other documents completed by you or on your behalf; and
  • Information we receive from a consumer reporting agencies, our service providers or other sources we may engage in connection with conducting due diligence, know-your-customer, anti-money laundering and other checks required to be performed in relation to admitting new customers.

You may be requested to provide some of the personal information referred to above before or during your relationship with the Funds. If you fail to provide this personal information when requested, and it is necessary for the Funds to comply with their legal or contractual obligations, the Funds will not be able to manage the investment relationship or meet the obligations placed on them. In all other cases, the provision of your personal information is voluntary.

Purposes of Personal Information Processing

The Funds will only use your personal information where they have a justifiable purpose or purposes for doing so or applicable law otherwise requires or permits the Funds to do so, unless they reasonably consider that they need to use the personal information for another reason which is compatible with the original purpose. Where required by applicable law, the Funds will not use or otherwise process your personal information for a secondary or unrelated purpose or purposes without first obtaining your consent.

The Funds collect, process and otherwise use your personal information for specific purposes, including and to the extent that such purposes are required or permitted by applicable law:

  • Where required by applicable laws and regulations, including laws relating to know-your-customer requirements, tax, the prevention of money laundering, fraud, terrorist financing and sanctions – this may involve collecting specific personal information about you where required by law and disclosing such information to applicable regulators, government bodies and tax authorities;
  • Where necessary for the Funds to enter into or to perform a contract with you, or to take steps at your request prior to entering into a contract – for example, to process your Subscription Agreement, provide information you have requested, create and administer your account, administer your investments, maintain registers and communicate with you about your investments;
  • Where necessary for the purposes of the Funds’ or our affiliates’ legitimate interests or with your consent, including to operate and facilitate our business and services to you, undertake business management, planning, statistical analysis, market research and marketing activities, administer and maintain the Funds’ core records, protect the Funds’ rights and interests, ensure the security of the Funds’ assets, systems and networks, prevent, detect and investigate fraud, unlawful or criminal activities in relation to our services, and enforce our terms and conditions; in connection with mergers, reorganizations or other corporate transactions; and
  • Where necessary for the establishment, exercise or defense of legal claims.

Where we process your personal information on the basis of your consent, you have the right to withdraw that consent at any time. If you decline to provide or withdraw your consent to our use of your personal information and, under applicable law, we are relying on consent as the legal basis for its processing, there are circumstances in which we will not be able to provide you with services or take action on your behalf.

Disclosure of Personal Information

We do not sell your personal information to third parties for their own uses, and we have not done so in the past year.

We may share all of the information that we collect, as described above, with our Funds and affiliates in order to service your account or provide you with information about other products and services that may be of interest to you. In addition, we may disclose all of the information that we collect to certain third parties who are not affiliated with New 2ND Capital or the Funds under one or more of the following circumstances:

  • As authorized – for example, as authorized by investor subscription agreements or organizational documents for the Funds and as authorized by you or your designated representatives;
  • As required by law or in connection with regulatory or law enforcement inquiries – for example, to cooperate with regulators, law enforcement authorities or taxation authorities;
  • As permitted by law – for example, sharing information (i) with companies that maintain, process or service customer accounts or financial products and services; (ii) with prospective lenders to, or other creditors of, a Fund or a portfolio company in which a Fund has or is considering investing; (iii) in connection with the making, management or disposition of any Fund investment; or (iv) as otherwise necessary or advisable to effect, administer or enforce investor or Fund transactions. Among other activities, we may share information with the Fund’s prime broker in order to execute customer trades or with custodians that hold securities on behalf of customers. We may also share this information with persons acting in a representative or fiduciary capacity on behalf of a customer. We believe that sharing of information for these purposes is essential to providing customers with necessary or useful services with respect to their accounts;
  • In connection with a corporate transaction – for example, if one or more of the Funds are sold or transferred to a third party, or if there is a change in any advisor to a Fund, we may disclose your information to those third parties;
  • Under joint agreements – for example, we may share your personal information with companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements; and
  • As necessary for the establishment, exercise or defense of legal claims.

Transfers of Personal Information

Because the Internet and our operations are global, your personal information may be transferred to, processed in, and held in countries (including the United States) other than the one in which you reside. The European Union and United Kingdom, amongst others, do not consider the United States and many other countries to provide essentially equivalent privacy protections. Such transfers are a necessary part of the services that we provide.

To the extent required by, and in accordance with, applicable data protection laws, we rely on appropriate or suitable safeguards in respect of international transfers of personal information, including:

  • Using standard contractual clauses approved by relevant authorities as ensuring adequate safeguards;
  • Entering into agreements with parties that require us to process the personal information to a standard that is the same or greater than is required by the applicable law of the country in which you are located;
  • Obtaining your consent to transfer personal information after first informing you about the possible risks of such a transfer;
  • When the transfer is necessary for the performance of a contract between you and the Funds, or if the transfer is necessary for the performance of a contract between the Funds and a third party, and the contract was entered into in your interest;
  • When the transfer is necessary to establish, exercise or defend legal claims; and
  • Working with parties that have implemented binding corporate rules or other common intra-group processes and procedures in respect of personal information.

Data Subject Rights

Depending on the country in which you reside or the laws that apply to the Funds’ processing of your personal information, you may have certain rights regarding your information, subject to local law and the circumstances of the processing of the personal information.

These rights vary but may include, subject to certain conditions provided by law, the following rights to: (i) check whether the Funds hold personal information about you; (ii) access your personal information; (iii) request correction of personal information about you that is inaccurate; (iv) request the erasure of your personal information; (v) request the restriction of processing of your personal information; (vi) object to the Funds’ use of your personal information; (vii) request to receive your personal information in a usable electronic format and transmit it to a third party; and (viii) lodge a complaint with your national or local data protection authority. You may also have the right to withdraw any consent to processing your personal information at any time, without affecting the lawfulness of processing of your information based on consent before its withdrawal. The Funds may, however, have other legal grounds to continue to process your personal information.

You may submit requests to exercise these rights, where they are applicable, by contacting us using the Contact Information provided below. We will process requests within the time provided by applicable law and will not discriminate against you for exercising any of your applicable rights.

Persons who submit requests will be required to verify their identity. We will not disclose or delete any information until identity is verified. You may designate an authorized agent to submit a request on your behalf by providing that agent with your written permission. If an agent makes a request on your behalf, we may still ask that you verify your identity directly with us before we can honor the request. Agents who make requests on behalf of individuals will be required to verify the request by submitting written authorization from the investor. We will not honor any requests from agents until authorization is verified.

Security of Personal Information

We maintain reasonable administrative, physical and technological controls intended to protect personal information about our customers. No security is perfect, though, and we ask that you notify us as soon as possible if you are aware of any unusual activity involving your accounts or if any means by which you communicate with us has been compromised.

Except as permitted by law, we require non-affiliated third-party service providers to whom we disclose personal information about the Fund’s customers to enter into confidentiality agreements with us. In addition, they should process information about you only to the extent necessary to facilitate transactions and perform other services for us.

Personal Information Retention

We retain your personal information as long as is necessary for the purposes set out in this Notice, subject to regulatory retention requirements, legal holds and your rights, under certain circumstances, to have your personal information erased. When deciding how long to retain your personal information, we may take into account our legal and regulatory obligations, the amount, nature, and sensitivity of the personal information, the potential risk of harm from unauthorized use or disclosure of your personal information, the purposes for which we process your personal information described above and whether we can achieve those purposes through other means. We may also retain your personal information to investigate or defend against potential legal claims in accordance with the limitation periods of countries where legal action may be brought.

Additional Information

If you are located in a jurisdiction where specific laws, rules or regulations require us to provide you with additional or different privacy-related rights beyond what is set forth herein, then we will comply with those specific laws, rules or regulations.

Former Investors

We will adhere to the policies and practices described in this Notice regardless of whether you are a current or former investor in a Fund.

Changes to Our Notice

If we make material changes to this Notice, we will issue a revised Notice and/or take other steps to notify you of the changes where required and in accordance with applicable law.

Contact Information

If you have questions regarding these policies, please contact New 2ND Capital at 917-378-2435 or by email at [email protected] or 6 Grand Central, 666 Third Avenue, 24th Floor, New York, NY 10017, USA.