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PRIVACY AND COOKIES

Last Updated: January 2023

We at Canyon Partners, LLC, Canyon Capital Advisors LLC, Canyon Partners Real Estate LLC, AECOM-Canyon Partners Real Estate Fund Advisors LLC, Canyon CLO Advisors LP, and/or River Canyon Fund Management LLC (collectively “Canyon” or “We,” “Us,” or “Our”), have created this Privacy Policy to explain how we collect, use and share information we obtain through our websites located at www.canyonpartners.com, www.rivercanyonfunds.com, and www.canyoncatalyst.com (the “Sites”), as well as Internet services that we offer (together, the “Internet Services”) as well as information you communicate in other manners, including but not limited to information you provide to us when you call us or write to us.

Because the Internet is global, information about you that we collect or that you submit may be transferred to, processed in, and held in countries (including the United States) other than the one in which you reside. By using the Internet Services, you explicitly consent to such use of your information and agree to the terms of this Privacy Policy. This Privacy Policy was updated as of December 2022, and as described below, may be updated from time to time.

Information that we collect related to investors and employees, contractors, and job applicants (collectively “employees”) are subject to privacy notifications that are specific to those groups and are not subject to this Privacy Policy. We do not knowingly collect information from minors nor do we target the Sites to minors.

1. Personal Information We Collect from You  

For purposes of this Privacy Notice, “Personal Data” means information that identifies, relates to, describes, is capable of being associated with, or could reasonably be linked, directly or indirectly, with a particular individual.

To obtain access to the Sites and to receive certain Internet Services, you may be required to login and provide certain Personal Data, including:

  • Identifiers: such as a real name, alias, postal address, email address, account name, social security number, driver’s license number, passport number, and other similar identifiers.
  • Characteristics of protected classification under California or federal law: such as information revealing race, age, religion, sex or gender, sexual orientation, disability status, and marital status.
  • Professional or employment-related information: such as job title, professional memberships and affiliations.
  • Internet or other electronic network activity information: such as information regarding your interaction with and use of our systems.
  • Geolocation data.
  • Personal information categories listed in Cal. Civ. Code § 1798.80(e): such as identifiers and examples listed above, as well as bank account numbers, and brokerage account information.

Some of the Personal Data we collect is also considered “Sensitive Personal Information” under the CCPA. That Sensitive Personal Information may include:

  • Social security, driver’s license, or passport numbers
  • Information about racial or ethnic origin, sex, sexual orientation, or union membership
  • Account login and password

We use Sensitive Personal Information for lawful purposes in compliance with the CCPA. We do not use Sensitive Personal Information to infer characteristics about you.

2. Information We Automatically Collect, Including Through Use of Cookies

We automatically collect certain Internet or other electronic network activity information to help us understand how you use the Internet Services. We refer to this category of Personal Data in this Privacy Policy collectively as “Usage Data.” For example, each time you visit the Sites we may automatically collect your IP address, browser and computer type, access time, the webpage from which you came, and the webpage(s) that you access during your visit.

We may combine Usage Data with other Personal Data in a manner that enables us to trace Usage Data to an individual user.

We also may use cookies (which are small amounts of data sent from a web server to your browser that are stored on your computer’s hard drive) and other tracking technologies to keep track of your use of the Internet Services, to validate your identity, to remember your password and preferences, to tailor the Internet Services to your account and to meet your interests, and to improve the quality of the Internet Services. Generally, you can set your browser not to accept cookies or to notify you if you are sent a cookie, giving you the opportunity to choose whether or not to accept the cookie. Please note that if you do set your browser not to accept cookies, certain Internet Services may not function properly.

Some web browsers may have “do not track” settings. The Sites do not currently respond to “do not track” settings.

3. How We Use Personal Data

We use Personal Data to fulfill your requests for Internet Services, as well as other products and services (together, the “Services”), to monitor and improve our Services, and to contact you from time to time about us and the Services.

4. Our Information Sharing Practices

Generally. Except as otherwise described in this section and in Section 5 of this Privacy Policy, we will not share your Personal Data or Usage Data (which we will refer to in this Privacy Policy collectively as “User Information”) with any third party without your permission.

Third-Party Service Providers. We employ other companies and individuals to perform functions on our behalf, such as for analyzing data and providing certain of the Internet Services. These third-party service providers have access to personal information needed to perform their functions, but we require that they not use personal information for other purposes. Personal Data is not shared with any unaffiliated third-parties for their marketing purposes.

Other Disclosure Scenarios. Notwithstanding anything in this Privacy Policy to the contrary, we reserve the right, and you hereby expressly authorize us to, share any User Information: (1) in response to subpoenas, court orders, regulatory requests or legal process, or to establish, protect or exercise our legal rights and interests or defend against legal claims; (2) if we believe it is necessary in order to investigate, prevent or take action regarding inappropriate or illegal activities, fraud, or situations involving potential threats to the safety of any person or property; (3) if we believe it is necessary to investigate, prevent, or take action regarding abuse of the Sites’ infrastructure or the Internet in general (such as voluminous spamming, denial of service attacks, or attempts to compromise the security of information); (4) to our parent company, subsidiaries, joint ventures, or other companies under common control with us (in which case we will require such entities to honor this Privacy Policy); (5) as part of a corporate transaction with a successor or affiliate or in connected with any acquisition, merger or sale of assets; or (6) with third parties who provide services to us; provided, however, that in those circumstances we request that our service providers not share your User Information in a manner inconsistent with this Privacy Policy.

We do not sell User Information.

5. Retention of Personal Information

We will only retain your Personal Data for as long as necessary to provide services to you fulfill the purposes we collected it for, including to satisfy any legal, accounting, or reporting requirements.

6. Modifying and Deleting Your Personal Data

We have controls in place designed to help us ensure that the information we have is relevant, accurate, and appropriate for the purposes used. If you believe that any data about you is inaccurate, please let us know by contacting ir@canyonpartners.com. Please note that any Personal Data that we have copied may remain in back-up storage for some period of time after your request, and that if you delete certain information you may not be able to use our services in the future without re-submitting such information. Also, please note that we will maintain Personal Data in our database whenever we are required to do so by law or regulation.

Under California Civil law, Californians are entitled to request information relating to whether a business has disclosed Personal Data to any third parties for the third parties’ direct marketing purposes. Californians who wish to request further information about our compliance with this statute or who have questions, more generally, about our Privacy Policy and our privacy commitments and our Sites should contact us at compliance@canyonpartners.com or at Canyon Partners, LLC, Attention: Compliance Department,2728 N. Harwood Street, 2nd Floor, Dallas, Texas 75201.

7. Your Rights

Individuals in Andorra, Argentina, Australia, California, Canada, Europe, Faroe Islands, Guernsey, Hong Kong, Israel, Isle of Man, Japan, Jersey, Mexico, New Zealand, Singapore, South Korea, Switzerland, the United Kingdom, Uruguay, and certain other jurisdictions may have certain data subject rights. These rights vary, but they may include the right to: (i) request access to and rectification or erasure of their Personal Data; (ii) restrict or object to the processing of their Personal Data; and (iii) obtain a copy of their Personal Data in a portable format. Individuals may also have the right to lodge a complaint about the processing of Personal Data with a data protection authority. If you wish to exercise any of these rights please email compliance@canyonpartners.com or call 1-877-222-4117.

If you make a request related to Personal Data about you, you may be required to supply a valid means of identification as a security precaution. We will process your request within the time provided by applicable law.

The California Consumer Privacy Act (“CCPA”) prohibits covered businesses from discriminating against you for exercising your CCPA rights.

8. SEC Regulations S-P, S-AM and the Gramm-Leach-Bliley Act – PRIVACY NOTICES

Some regulators such as the Securities and Exchange Commission, the U.K. Information Commissioner and the Federal Trade Commission have adopted rules that require financial institutions, like Canyon, to provide privacy policy notices to their clients. Canyon believes that protecting the privacy of current, former and prospective investors and their personal information is of the utmost importance and we are committed to maintaining the privacy of such information in our possession. In accordance with these rules, we are providing current and prospective investors with the following information:

Canyon collects nonpublic personal information about current and prospective investors from the following sources: (i) information we receive from current and prospective investors on investment advisory agreements or subscription documents and related forms (for example, name, address, social security number, birth date, assets, income, investment experience); (ii) information about investor’s transactions with Canyon; and (iii) the Internet Services.

We restrict access of current, former and prospective investors’ nonpublic personal information to our affiliates and their personnel, counsel, regulators, auditors, administrators, counterparties, and service providers who need to know that information in order to (i) ensure compliance with applicable laws and regulations, (ii) administer your account and provide products or services to Canyon and/or its investors, or (iii) as otherwise required by law. Canyon maintains physical, electronic and procedural controls in keeping with federal standards to safeguard the nonpublic personal information about current, former and prospective investors that is in our possession.

Nonpublic personal information is not shared with third-parties for their marketing purposes.

If, at any time in the future, it is necessary to disclose any of a client’s personal information in a way that is inconsistent with this policy, Canyon will give advance notice of the proposed change so that its clients will have the opportunity to “opt out” of such disclosure.

9. Security

We have implemented reasonable measures to help protect your User Information from loss, misuse or unauthorized access or disclosure. Unfortunately, however, no data transmission over the Internet can be guaranteed to be 100% secure. As a result, while we strive to protect your User Information, we cannot guarantee its security.

10. Links

The Sites may contain links to other websites. We are not responsible for the privacy practices of any such other website (whether accessed through an advertisement, service or content link) and urge you to review such practices prior to submitting any information to such websites.

11. Changes

We may update this Privacy Policy from time to time. If under any such update we make any material change to the way in which we treat your User Information, we will inform you of such change via e-mail or by posting a notice on relevant areas of the Sites. Any updated version of this Privacy Policy will be effective as of the date set forth therein. By continuing to use Internet Services, you expressly agree to the terms of the Privacy Policy.

12. International Data Transfers

In order to use and disclose your Personal Data for the purposes described above, such Personal Data will be transferred internationally, including from the European Economic Area to the U.S. and other countries which the European Union has deemed do not provide “adequate” protection for personal information. We will ensure application of the same standards of privacy protection as set out in this Privacy Policy regardless of the international transfer or processing of Personal Data. By providing us your Personal Data and using any website, you consent to such international transfers of Personal Data, as we deem appropriate, including transfers from the European Economic Area to the U.S. and other countries, which the European Union has deemed not to provide “adequate” protections for Personal Data.

13. Questions

If you have any questions about this Privacy Policy, please feel free to contact us by e-mail at compliance@canyonpartners.com.

Todd Lemkin

Partner, Portfolio Manager

Todd Lemkin is an Investment Partner and Chief Investment Officer of Canyon Capital Advisors. Mr. Lemkin joined Canyon in 2003 and is responsible for the efforts of CCA’s portfolio team to develop, analyze, and implement investment ideas across the firm’s global platform. Mr. Lemkin has extensive investment expertise across the cable, media, telecom, satellite, industrials, real estate, gaming, and packaging sectors. Prior to this role, Mr. Lemkin focused on Canyon’s European investment effort and the firm’s London office. Prior to joining Canyon, Mr. Lemkin worked at Scoggin Capital Management, where he focused on analyzing securities of distressed and bankrupt companies. Mr. Lemkin was also an Investment Banker in the Healthcare Group of Banc of America Securities and the Mergers & Acquisitions Group of Lehman Brothers. Mr. Lemkin is a member of the Board of Governors of Cedar Sinai Hospital as well as a Director of Atlas Crest Investment Corp. (“ACII”). Mr. Lemkin is a graduate of the University of California, Berkeley (B.A., English).

Sam Reid

Partner, Portfolio Manager

Sam Reid is an Investment Partner at Canyon. Mr. Reid joined Canyon in 2008 and is a Portfolio Manager for River Canyon funds. Prior to this role, Mr. Reid was Head Debt Trader for Canyon’s investments across the firm’s global platform. Prior to joining Canyon, Mr. Reid worked at JPMorgan Chase as a sell-side High Yield Credit trader, where he traded CDS and high yield bonds in both a market making and proprietary trading capacity. Mr. Reid is a graduate of Georgetown University (dual B.S., International Business and Finance). Mr. Reid is a CFA® charterholder.

ADAM RIZKALLA

SENIOR VICE PRESIDENT, PORTFOLIO MANAGER

Mr. Rizkalla is a Senior Vice President within the Investment team at Canyon. Mr. Rizkalla joined Canyon in 2022 and is a Portfolio Manager for River Canyon funds and primarily focuses on structured products including asset-backed securities, residential mortgage-backed securities, and commercial mortgage-backed securities. Prior to joining Canyon, Mr. Rizkalla worked at Thornburg Investment Management, where he invested in a variety of structured products. Previously, Mr. Rizkalla worked at J.P. Morgan as an investment banker in the Structured Products Group. Mr. Rizkalla is a graduate of Seattle Pacific University (B.A., Accounting). Mr. Rizkalla is a CFA® charter holder.

Mitch Julis

Co-Founder, Co-Chairman and Co-Chief Executive Officer

Mitch Julis is Co-Founder, Co-Chairman and Co-Chief Executive Officer of Canyon Partners, LLC. Mr. Julis is a graduate of the Princeton School of Public and International Affairs (B.A., magna cum laude, Phi Beta Kappa), Harvard Law School (J.D., magna cum laude) and Harvard Business School (M.B.A., honors).  He received an honorary doctorate from Yeshiva University of New York in 2011.  Prior to forming Canyon, Mr. Julis directed a group of professionals responsible for a portfolio of distressed and special situation securities at Drexel Burnham Lambert.  Prior to working at Drexel, he was a bankruptcy and creditors’ rights attorney at Wachtell, Lipton, Rosen & Katz in New York.  Mr. Julis has authored a number of articles published in law journals and other periodicals on the subject of bankruptcy, distressed credits and special situation investing.

In 2014, Mr. Julis, along with Co-Founder Josh Friedman, received Institutional Investor’s “Lifetime Achievement” Award. Mr. Julis serves as a Trustee of the Brown University Corporation, on the Board of Governors at the Watson Institute for International and Public Affairs at Brown University, on the Board of Trustees at Yeshiva University and as Trustee Emeritus at the Asia Society.  He previously served on the Board of Trustees at Princeton University.  He is currently a member of the Advisory Council for the Julis-Rabinowitz Center for Public Policy and Finance at the Princeton School of Public and International Affairs and a member of Princeton’s School of Engineering and Applied Science Leadership Council.  Furthermore, he sits on the Jacobs Technion-Cornell Institute Advisory Council and the Lincoln Center Theater Board of Directors. Also noteworthy is his active role in establishing the Harvard Law School Program on Jewish and Israeli Law. In 2019, Mr. Julis received an Honorary Fellowship from the Technion – Israel Institute of Technology.

Mr. Julis and his wife, Joleen, reside in Dallas, TX and have 4 children.

Josh Friedman

Co-Founder, Co-Chairman and Co-Chief Executive Officer

Josh Friedman is Co-Founder, Co-Chairman and Co-Chief Executive Officer of Canyon Partners, LLC. Mr. Friedman is a graduate of Harvard College (B.A., summa cum laude, Phi Beta Kappa, Physics), Oxford University (M.A., honors, Politics and Economics, Marshall Scholar), Harvard Business School (M.B.A., Baker Scholar) and Harvard Law School (J.D., Sears Prize, magna cum laude). Prior to forming Canyon, Mr. Friedman was Director of Capital Markets for High Yield and Private Placements at Drexel Burnham Lambert. Prior to working at Drexel, Mr. Friedman worked in the Mergers and Acquisitions Department of Goldman Sachs in New York.

In 2014, Mr. Friedman, along with Co-Founder Mitch Julis, received Institutional Investor’s “Lifetime Achievement” Award. Mr. Friedman is a member of the George W. Bush Presidential Center Executive Advisory Council. Additionally, Mr. Friedman serves on the boards and/or investment committees of a number of endowments and foundations including Harvard Management Company, Harvard Committee on University Resources, California Institute of Technology, Lincoln Center for the Performing Arts, The Broad Foundation, Los Angeles County Museum of Art (LACMA), and the Dallas Museum of Art (DMA). Mr. Friedman previously served on the investment committee of the J. Paul Getty Trust and Board of the Dean’s Advisors for Harvard Business School, as well as the boards of the Los Angeles Philharmonic, the UCLA Hospital Department of Neurosurgery, the UCLA Anderson School of Management, The California Science Center, and The Andrew W. Mellon Foundation.

Mr. Friedman and his wife, Beth, live in Dallas, Texas and have three sons. Mr. and Mrs. Friedman co-endowed the Star-Friedman Challenge for Promising Scientific Research at Harvard University and are 2019 recipients of the Ellis Island Medal of Honor.

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