DISCLOSURES

Arini Capital Management Privacy Notice – UK

This privacy notice tells you how Arini Capital Management Limited (the “Firm”, “us”, “we”) collects, uses and processes your Personal Information. 

For the purposes of any applicable data protection legislation, including the General Data Protection Regulation (EU) 2016/679) (“GDPR”) (the “Data Protection Laws”), the Firm is a “data controller” responsible for Personal Information that you provide to us in relation to this website. 

This Policy may be updated from time to time. Any changes will be published on this page. 

Identity and contact details of the data controller:

Arini Capital Management

2 Park Street, 

London, 

W1K 2HX

Please contact a member of the Firm’s Compliance Team with and queries or concerns regarding the handling of your Personal Information: compliance@arini.com

The Compliance Team will direct you to the Firm’s designated privacy officer. 

What Personal Information we collect

By “Personal Information” we mean all of the personal and financial information that we collect, use, share and store, which relates to you and directly or indirectly identifies you. 

We collect your personal information, in the following ways and for the following purposes, including but not limited to: 

• For the purpose of investor / client establishment.
• Anti-Money Laundering and due diligence requirements related to on-boarding as e.g. a client / investor / counterparty. 
• Employee / contractor on-boarding and related due diligence requirements. 
• Potential marketing distribution requests. 

We may collect and process the following kinds of Personal Information: 

• Personal Information provided directly to us by you, or another person on your behalf. This may include, (by way of a non-exhaustive list): 

• First and last name;
• Contact details; 
• Residential or business addresses;
• Emergency contacts;
• Education details;
• CV;
• Nationality;
• Employment history;
• Verbal or written references;
• Right to work information; and
• Details of any criminal convictions (e.g. Disclosure Barring Service (DBS), Access NI or Disclosure Scotland checks). 

• Personal Information supplied to the Firm through Investor Relations as a prospective or actual investor. This may include, (by way of a non-exhaustive list):

• Investment details, including aims and objectives;
• Financial information associated with managing your account with us;
• Country of tax residency;
• Social Security /Tax identification number;
• Information about assets or net worth;
• Credit history;
• Signature;
• For regulatory purposes, copies of your passport or driver’s license; and
• Any other relevant information provided by you to us in correspondence, whether by email, written letter, or telephone call.

How and why do we use your Personal Information? 

We process your Personal Information to the extent necessary for us to carry our investment activities, provide communications to you, meet our legal and regulatory obligations, and for other legitimate purposes permitted by law. 

These purposes may include (by way of a non-exhaustive list): 

• Operation, administration and management of our business;
• Maintaining the quality of, and improving the website; 
• Communicating, where you have requested or consented, information updates or marketing materials;
• Recruitment purposes;
• Identification checks, including due diligence, KYC, anti-money laundering or other similar checks to ensure we are compliant with our legal obligations; 
• Protecting against and identifying fraud, cyber attacks and other unlawful activity;
• Compliance with applicable laws, rules, regulatory requirements and internal policies and procedures; and 
• Complying with requests from regulatory, governmental, tax and law enforcement authorities.

We may have disclosed any of the categories of Personal Information listed above for any of the business purposes described in this section in the past 12 months.

Lawful bases 

Under UK data protection law, we must have a “lawful basis” for collecting and using your Personal Information. You can find out more about lawful bases on the ICO’s website. 

We are entitled to process your Personal Information for the above purposes on the following bases:

1. ‘Contract performance’ – collecting or using Personal Information so we can enter into or carry out a contract with you. This is the Personal Information needed to operate/manage your account, product or service. 
2. ‘Legal obligation’ – collecting or using your Personal Information so we can comply with the law. 
3. ‘Legitimate interest’ – using your Personal Information where the benefits of us using your Personal Information are legitimate and not outweighed by your interests or legal rights.
4. ‘Consent’ – using your personal information where we have permission from you after we gave you all the relevant information. Where consent is the only legal basis for us using your information, you may withdraw this at any time. 

How long we keep Personal Information

We will not retain Personal Information for longer than is necessary in relation to the purpose for which it is collected, subject to the applicable Data Protection Laws. How long we hold your Personal Information for may vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your Personal Information). 

From time to time, we will review the purpose for which Personal Information has been collected and decide whether to retain it or to delete if it no longer serves any purpose to us.

Who we share Personal Information with

We may share your information within the Firm for the purposes described above, in accordance with this Policy. All employees and contractors are required to follow our data Privacy Policy when handling information.

We may also share your Personal Information with third parties outside of the Firm for the following purposes:

1. Legal Obligation: we may share Personal Information:
   1. To the extent that we are require to do so by applicable law, regulation or court order, by a governmental body, regulator, law enforcement agency;
   2. In connection with any legal proceedings or for crime prevention purposes;
   3. In order to establish or defend our legal rights.
2. Service Providers and Third Parties: we may share Personal Information with the below (by way of non-exhaustive list). 
   1. Services relating to HR, including payroll service providers, benefits providers, reference providers, human resource management providers, background check providers and healthcare providers;
   2. Cloud services providers, relating to data storage, sales, marketing, investigations and customer support;
   3. Professional third parties, including law firms, accountants, and auditors;
   4. Affiliated third parties, including financial institutions such as investment advisers and transfer agents. 

These Service Providers and Third Parties will be subject to appropriate data protection obligations, and they will only use your information as described in our Privacy Policy, or as otherwise notified to you.

1. Business sale: we may share Personal Information in connection with the sale of our business or assets, or an acquisition of our business or assets by a third party for due diligence purposes. 

Protection of Personal Information

We have in place appropriate technical and organisational measures to protect the Personal Information that we hold about you.

To protect your personal information from unauthorised access and use, we apply organisational and technical security measures in accordance with applicable Data Protection Laws. These measures include computer safeguards and secured files.

We will notify you of any material Personal Information breaches affecting you in accordance with the requirements of applicable Data Protection Laws.

Your Rights

Depending on your home country, you have a number of legal rights in relation to the Personal Information that we hold about you¹. In most cases these can be exercised free of charge. These rights include the following: 

• The right to request access to your Personal Information; 
• The right to request rectification of your Personal Information; 
• The right to request erasure of your Personal Information; 
• The right to restrict our processing or use of your Personal Information; 
• 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 our marketing activities); 
• If your consent to processing has been obtained, the right to withdraw your consent at any time;  
• Where relevant, the right to request the portability of your Personal Information; 
• The right to receive some Personal Information in a structured, commonly used and machine-readable format where this is technically feasible (note this only applies to Personal Information which you have provided to us, and may not always apply);

• The right to not to be subject to solely automated decisions, including profiling, which have a legal or similarly significant effect on you; and
• the right to lodge a complaint with a supervisory authority.

Please note that there may be circumstances where you ask us to erase or limit processing of your Personal Information, but we are otherwise legally entitled or required to refuse such a request. 

Cookies:

We may send text files (“cookies” or other cached files) or images to your web browser to collect and/or store information on your computer. Such text files and images are used to support the operation of our digital offerings and for technical convenience to store information on your computer. 

We may use information stored in such text files and images to customise your experience on our website and to monitor use of our website. Many web browsers allow you to block cookies. If you block cookies you may not be able to access certain parts or use all features of our website. You can disable cookies from your computer system by following the instructions on your browser or at http://www.allaboutcookies.org/.

How to complain

If you have any concerns about our use of your Personal Information, you can make a complaint to us using the contact details at the top of this privacy notice.

If you remain unhappy with how we’ve used your data after raising a complaint with us, you can also complain to the ICO.

The ICO’s address:           

Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

Helpline number: 0303 123 1113

Website: https://www.ico.org.uk/make-a-complaint

In Ireland, the data protection authority is the Data Protection Commission (available at https://www.dataprotection.ie/). 

Last Updated

September 2024

¹A request must (a) provide sufficient information that allows us to reasonably verify you are the person about whom we collected personal information or an authorized representative and (b) describe your request with sufficient detail that allows us to properly understand, evaluate, and respond to it. We cannot respond to your request or provide you with personal information if we cannot verify your identity or authority to make the request and confirm the personal information relates to you.

 

Arini Capital Management Privacy Notice – US

This privacy notice tells you how Arini Capital Management Limited and Arini Capital Management US LLC ( “Arini”, “us”, “we”) collects, uses and processes your Personal Information. 

For the purposes of any applicable data protection legislation, including the General Data Protection and the California Consumer Privacy Act 2018 as amended (“CCPA”) (the “Data Protection Laws”), Arini is a “data controller” responsible for Personal Information that you provide to us in relation to this website. 

Changes to this Notice:

We reserve the right to update this addendum at any time to reflect changes in our policies concerning the collection and use of personal information. The revised addendum will be effective immediately upon posting to our web site. 

Identity and contact details of the data controller:

Arini Capital Management 

2 Park Street, 

London, 

W1K 2HX

Please contact a member of the Firm’s Compliance Team with and queries or concerns regarding the handling of your Personal Information: compliance@arini.com. 

The Compliance Team will direct you to the Firm’s designated privacy officer. 

What Personal Information we collect

By “Personal Information” we mean all of the personal and financial information that we collect, use, share and store, which relates to you and directly or indirectly identifies you. 

We collect your personal information, in the following ways and for the following purposes, including but not limited to: 

• For the purpose of investor / client establishment.
• Anti-Money Laundering and due diligence requirements related to on-boarding as e.g. a client / investor / counterparty. 
• Employee / contractor on-boarding and related due diligence requirements. 
• Potential marketing distribution requests. 

We may collect and process the following kinds of Personal Information: 

• Personal Information provided directly to us by you, or another person on your behalf. This may include, (by way of a non-exhaustive list): 

• First and last name;
• Contact details; 
• Residential or business addresses;
• Emergency contacts;
• Education details;
• CV;
• Nationality;
• Employment history;
• Verbal or written references;
• Right to work information; and
• Details of any criminal convictions (e.g. Disclosure Barring Service (DBS), Access NI or Disclosure Scotland checks). 

• Personal Information supplied to the Firm through Investor Relations as a prospective or actual investor. This may include, (by way of a non-exhaustive list):

• Social Security / Tax identification number;
• Investment details, including aims and objectives;
• Financial information associated with managing your account with us;
• Country of tax residency;
• Information about assets or net worth;
• Credit history;
• Signature;
• For regulatory purposes, copies of your passport or driver’s license; and
• Any other relevant information provided by you to us in correspondence, whether by email, written letter, or telephone call.

How and why do we use your Personal Information? 

We process your Personal Information to the extent necessary for us to carry our investment activities, provide communications to you, meet our legal and regulatory obligations, and for other legitimate purposes permitted by law. 

These purposes may include (by way of a non-exhaustive list): 

• Operation, administration and management of our business;
• Maintaining the quality of, and improving the website; 
• Communicating, where you have requested or consented, information updates or marketing materials;
• Recruitment purposes;
• Identification checks, including due diligence, KYC, anti-money laundering or other similar checks to ensure we are compliant with our legal obligations; 
• Protecting against and identifying fraud, cyber attacks and other unlawful activity;
• Compliance with applicable laws, rules, regulatory requirements and internal policies and procedures; and 
• Complying with requests from regulatory, governmental, tax and law enforcement authorities.

We may have disclosed any of the categories of Personal Information listed above for any of the business purposes described in this section in the past 12 months.

Lawful bases 

We are entitled to process your Personal Information for the above purposes on the following bases: 

1. ‘Contract performance’ – collecting or using Personal Information so we can enter into or carry out a contract with you. This is the Personal Information needed to operate/manage your account, product or service. 
2. ‘Legal obligation’ – collecting or using your Personal Information so we can comply with the law. 
3. ‘Legitimate interest’ – using your Personal Information where the benefits of us using your Personal Information are legitimate and not outweighed by your interests or legal rights.
4. ‘Consent’ – using your personal information where we have permission from you after we gave you all the relevant information. Where consent is the only legal basis for us using your information, you may withdraw this at any time. 

How long we keep Personal Information

We will not retain Personal Information for longer than is necessary in relation to the purpose for which it is collected, subject to the applicable Data Protection Laws. How long we hold your Personal Information for may vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your Personal Information). 

From time to time, we will review the purpose for which Personal Information has been collected and decide whether to retain it or to delete if it no longer serves any purpose to us.

Who we share Personal Information with

We may share your information within the Firm for the purposes described above, in accordance with this Policy. All employees and contractors are required to follow our data Privacy Policy when handling information.

We may also share your Personal Information with third parties outside of the Firm for the following purposes:

1. Legal Obligation: we may share Personal Information:
   1. To the extent that we are require to do so by applicable law, regulation or court order, by a governmental body, regulator, law enforcement agency;
   2. In connection with any legal proceedings or for crime prevention purposes;
   3. In order to establish or defend our legal rights.
2. Service Providers and Third Parties: we may share Personal Information with the below (by way of non-exhaustive list). 
   1. Services relating to HR, including payroll service providers, benefits providers, reference providers, human resource management providers, background check providers and healthcare providers;
   2. Cloud services providers, relating to data storage, sales, marketing, investigations and customer support;
   3. Professional third parties, including law firms, accountants, and auditors;
   4. Affiliated third parties, including financial institutions such as investment advisers and transfer agents. 

These Service Providers and Third Parties will be subject to appropriate data protection obligations, and they will only use your information as described in our Privacy Policy, or as otherwise notified to you.

1. Business sale: we may share Personal Information in connection with the sale of our business or assets, or an acquisition of our business or assets by a third party for due diligence purposes. 

Protection of Personal Information

We have in place appropriate technical and organizational measures to protect the Personal Information that we hold about you.

To protect your personal information from unauthorized access and use, we apply organizational and technical security measures in accordance with applicable Data Protection Laws. These measures include computer safeguards and secured files.

We will notify you of any material Personal Information breaches affecting you in accordance with the requirements of applicable Data Protection Laws.

Your Rights

Depending on your home country, you have a number of legal rights in relation to the Personal Information that we hold about you¹. In most cases these can be exercised free of charge. These rights include the following: 

• The right to request access to your Personal Information; 
• The right to request rectification of your Personal Information; 
• The right to request erasure of your Personal Information; 
• The right to restrict our processing or use of your Personal Information; 
• 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 our marketing activities); 
• If your consent to processing has been obtained, the right to withdraw your consent at any time;  
• Where relevant, the right to request the portability of your Personal Information; and
• the right to lodge a complaint with a supervisory authority.

Please note that there may be circumstances where you ask us to erase or limit processing your Personal Information, but we are otherwise legally entitled or required to refuse such a request. 

Cookies:

We may send text files (“cookies” or other cached files) or images to your web browser to collect and/or store information on your computer. Such text files and images are used to support the operation of our digital offerings and for technical convenience to store information on your computer. 

We may use information stored in such text files and images to customize your experience on our Website and to monitor use of our Website. Many web browsers allow you to block cookies. If you block cookies you may not be able to access certain parts or use all features of our Site. You can disable cookies from your computer system by following the instructions on your browser or at http://www.allaboutcookies.org/.

How to complain

CCPA provides consumers with specific rights regarding their personal information. You have the right to request information – see “Your Rights” section above.  

Arini will make a good faith effort to process your request without undue delay and within the timeframe provided by applicable law. In case you remain unhappy with how we’ve used your data after raising an enquiry with us, you can also complain to the relevant data protection regulator. 

Notice to California Residents²

If you are a California resident, California law may provide you with additional rights regarding our use of your personal information. To make a related request, please send us an email, or write to us at the address listed above. Indicate in your correspondence that you are a California resident making a “Shine the Light” inquiry.

Last updated

September 2024

 

¹A request must (a) provide sufficient information that allows us to reasonably verify you are the person about whom we collected personal information or an authorized representative and (b) describe your request with sufficient detail that allows us to properly understand, evaluate, and respond to it. We cannot respond to your request or provide you with personal information if we cannot verify your identity or authority to make the request and confirm the personal information relates to you.

²When you engage with us, you acknowledge that you have read and understand the contents of this ‘notice’.

 

Arini SRD II Annual Disclosure: 

The revised EU Shareholders Rights Directive (SRD II) aims to promote effective stewardship and long-term investment decision making in respect of shares traded on EEA regulated markets and comparable regulated markets outside the EEA. 

Under Rule 2.2B.5.R of the Financial Conduct Authority’s Conduct of Business Sourcebook, Arini Capital Management Limited (“Arini”) is required to develop and publicly disclose a shareholder engagement policy and publicly disclose on an annual basis how that policy has been implemented. Where Arini does not comply with such requirements, it must disclose why it has chosen not to do so.

Arini firmly agrees with the importance of effective stewardship and transparency of engagement between institutional investors and the companies in which they invest. However, Arini has not adopted an engagement policy (pursuant to Article 3g of SRD II) on the basis that it is a macro public/private credit investor. As such, Arini has little basis for monitoring or engaging with investee companies or other stakeholders regarding publicly traded shares, as such activity represents a very small proportion of its investing directives and would only be incidental to the credit-focused investments that remain the focus of the firm. Additionally, Arini principally invests in debt instruments; therefore, it would be disproportionate to maintain an engagement policy due to Arini’s limited opportunity to exercise stewardship with respect to shares traded on regulated markets.  

Were stewardship issues to arise, Arini would take a consistent approach to engagement with issuers and their management in all the jurisdictions in which it invests and, in that regard, has a proxy voting policy.

If Arini’s investment strategies were to change such that the provisions of SRD II become more relevant, this disclosure would be updated accordingly. Currently this remains under periodic review. 

UK Stewardship Code 

The UK Stewardship Code 2020 (the “2020 Code”), consists of, inter alia, 12 stewardship principles for asset managers and asset owners. The 2020 Code is voluntary and applies on an ‘apply or explain’ basis.

Arini manages investments globally across a range of asset classes and follows several diversified strategies. Arini determines its approach to stewardship on a case-by-case basis, taking into account the actions that will lead to the most favourable outcome for the value of our investments. Having considered the 2020 Code, Arini believes that the principles set out therein are not applicable to its investment activities at this time and therefore Arini has not applied to be a signatory to the 2020 Code. 

Should Arini’s approach or investment strategy change in the future, Arini will review its commitment to the Code and update the firm’s website disclosure accordingly. 

Notwithstanding Arini’s decision with respect to becoming a signatory to the Code, the firm, in principle, supports the 2020 Code’s underlying objectives.

EU Sustainable Finance Disclosure Regulation (SFDR)

Policies on the Integration of Sustainability Risks into the Investment Decision Making Process

None of the funds managed by Arini Capital Management Limited (or its affiliates) have a specific sustainable investment objective, nor do they prioritise the promotion of environmental or social characteristics. As a result, each of the Arini funds discloses under Article 6 of the SFDR (and not Article 8 or 9 of the SFDR) or is outside the jurisdictional scope of the SFDR.

Whilst analysts within the Arini team are encouraged to consider all relevant material factors when implementing their investment strategy, which may include certain ESG factors, Arini does not specifically consider the principal adverse impacts of its investment decisions.

ESG considerations, if any, may vary according to different strategies or investment strategies of a particular fund or product.  

No consideration of adverse impacts of investment decisions on sustainability factors 

Arini does not make the disclosures described in Article 4 of the SFDR. Having considered the size, nature and scale of its activities, and as the primary objective of the Arini funds is to deliver the highest risk-adjusted returns for investors, Arini has determined that it would be disproportionate to consider adverse impacts of investment decisions on sustainability factors at this time.  

Consistency of Renumeration Policy 

Both financial and non-financial criteria are considered when setting staff variable remuneration. This may include, but is not limited to, the performance of a portfolio and/or Arini as a whole. To the extent the performance of a portfolio or Arini is impacted by sustainability risk factors, this may in turn be reflected in staff variable remuneration.

Modern Slavery Act Statement

Introduction

This statement applies to Arini Capital Management Limited (“Arini” or the “Firm”) and is made pursuant to, and published in line with, Section 54(1) of the United Kingdom (“UK”) Modern Slavery Act 2015 (“MSA”). It constitutes the Firm’s slavery and human trafficking statement for the current financial year.

Arini believes it has a responsibility to manage slavery and human trafficking risk in its business and supply chains in accordance with the principles and goals promoted by the MSA and related guidance. Further information in respect to Arini’s business approach is available on the Firm’s website.

Background and Business Structure

Established in 2022, Arini is a London-based private limited company which is regulated by the UK Financial Conduct Authority and provides advisory and investment management services to its private funds and collateralized loan obligation platform. With offices in the UK and United States, the Firm solely employs personnel with verified professional backgrounds that are subject to pre-hire reference checks. Its financial year-end is 31 December.

Supply Chain

As an office-based professional investment firm, Arini’s supply chains are relatively simple and the nature of goods and services provided limits the opportunity for modern slavery, servitude or human trafficking to exist either within the Firm’s supply chains or its business more widely.

The Firm’s key vendors include professional services firms, information technology services and providers of trading and research. Arini believes the risk of modern slavery at these vendors is low, in part due to the professional nature and geographic location of performance of these services.

With this said, Arini is aware that its supply chain needs to be monitored to manage this risk. To that end, the relevant function heads have oversight of the Firm’s supply chain, including the onboarding process and review of key vendors.

Policies and Procedures

As part of Arini’s wider commitment to promoting ethical business practices, it has in place a variety of policies and procedures that together address its approach to these issues, including procedures covering anti-bribery and corruption, anti-money laundering, onboarding vendor relationships and whistleblowing.

Additionally, Arini has general polices distributed to all personnel that provide for fair treatment of workers and compliance with laws, including a code of conduct for unacceptable behaviour, policies for health and safety at work to provide a safe working environment and an equal opportunities and harassment policy.

Monitoring and Reporting

Using legitimate and proportionate measures, Arini will seek to resolve any instance of modern slavery or human trafficking occurring in any of its supply chains.

Where Arini personnel become aware or have concerns in relation to modern slavery or human trafficking, these should be reported to their manager in the first instance or in accordance with the Firm’s whistleblowing policy.

Training

Arini provides MSA awareness training to its personnel on the importance of implementing and enforcing effective systems to mitigate the risk of slavery and human trafficking taking place within the Firm’s supply chains or business more generally. In addition, Arini personnel are annually trained on all the Firm’s policies and procedures and are encouraged to bring any pertinent questions or concerns to the relevant internal Legal, Compliance and/or Human Resources contacts.

Implementation

Arini’s Board of Directors has overall responsibility for this statement. Arini’s Board of Directors will be responsible for updating this statement and the action points that have been outlined, as required, and will approve the statement on at least an annual basis. The most recent such approval occurred during a meeting of Arini’s Management Committee on 24 September 2024. 

As confirmed and attested to by:

Rola Hage Ali
Director and General Counsel
Arini Capital Management Limited
Date: 24 September 2024