Attached files
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| EX-10.1 - MANAGEMENT AGREEMENT - Ceres Tactical Commodity L.P. | c22488778c.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 13, 2017
CERES TACTICAL COMMODITY L.P.
(Exact name of registrant as specified in its charter)
(Exact name of registrant as specified in its charter)
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New York
(State or other jurisdiction
of incorporation)
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000-52602
(Commission File Number)
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20-2718952
(IRS Employer Identification No.)
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c/o Ceres Managed Futures LLC
522 Fifth Avenue
New York, New York 10036
(Address and Zip Code of principal executive offices)
(Address and Zip Code of principal executive offices)
Registrant’s telephone number, including area code: (855) 672-4468
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
Ceres Managed Futures LLC, the general partner of the Registrant (the “General Partner”), and the Registrant have entered into a management agreement dated as of October 13, 2017 (the “Management Agreement”) with Ospraie Management, LLC, a limited liability company formed under the laws of Delaware (“Ospraie”), pursuant to which Ospraie shall manage the portion of the Registrant’s assets allocated to it.
The General Partner has initially selected Ospraie’s Commodity Program, a proprietary, discretionary strategy, to manage the Registrant’s assets allocated to Ospraie.
Pursuant to the Management Agreement, the Registrant pays Ospraie a monthly management fee equal to 1/12 of 1.5% (1.5% per year) of the month-end net assets allocated to Ospraie. Ospraie also receives an annual incentive fee equal to 20% of new trading profits (as defined in the Management Agreement) earned by Ospraie in each calendar year.
The Management Agreement expires on December 31, 2018. If it is not terminated as of that date, it shall automatically renew for an additional one-year period and shall continue to renew for additional one-year periods until it is otherwise terminated pursuant to the terms of the Management Agreement.
The Management Agreement is filed herewith as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.(d) Exhibits.
The following exhibit is filed herewith.
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Exhibit No.
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Description
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10.1
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Management Agreement dated as of October 13, 2017, by and among the Registrant, Ceres Managed Futures LLC and Ospraie.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CERES TACTICAL COMMODITY L.P.
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By: Ceres Managed Futures LLC,
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General Partner
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By:
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/s/ Patrick T. Egan
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Patrick T. Egan
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President and Director
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Date: October 19, 2017