SAYBROOK FUND ADVISORS, LLC

Thesis

Saybrook Fund Advisors, LLC, established in 2011 and based in California, is an investment management firm focused on generating after-tax total returns through opportunistic investments in the fixed-income municipal market, with a strong emphasis on distressed and defaulted municipal securities. Their research-intensive strategy identifies undervalued municipal credits, including those from capital-constrained or financially distressed obligors, often involving over-leveraged bonds or under-capitalized entities where they can drive workout processes. They also consider municipal bonds with attractive relative pricing or temporary market dislocations. The firm offers Municipal Opportunity Funds for distressed and defaulted bonds and Credit Opportunity Separate Accounts for customized municipal credit investments. Their geographic scope is the United States. While their broader private equity arm has different focuses, Saybrook Fund Advisors' core strategy is distressed debt within the municipal sector. As of March 30, 2026, their total regulatory AUM was $461,209,006, with $394,968,715 in discretionary AUM.