Form 4: Tiedemann Advisors and Affiliates Increase Holdings in Fortress Net Lease REIT Through Share Conversion

Tiedemann Advisors and its related entities have increased their holdings of Fortress Net Lease REIT Class D Common Shares through an automatic conversion of other securities due to a fee waiver.

Summary

• Tiedemann Advisors, LLC and its affiliated entities, including TTC Multi-Strategy Fund QP, LP, have increased their holdings in Fortress Net Lease REIT.
• The increase in holdings is due to an automatic conversion of other securities into Class D Common Shares.
• This conversion was triggered by the application of a fee waiver by the Issuer.
• No additional consideration was paid by the Reporting Persons for these newly acquired shares.
• The reporting entities include Tiedemann Advisors, LLC, TTC Multi-Strategy Fund QP, LP, Tiedemann Advisors GP, LLC, AlTi Wealth Management Holdings, LLC, AlTi Global Holdings, LLC, AlTi Global Topco Limited, AlTi Global Capital, LLC, and AlTi Global, Inc.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment, detailing a routine ownership change. The conversion due to a fee waiver is a positive for the reporting entities, but the document does not provide any information about the financial health of the REIT.

Positives

• The automatic conversion of shares indicates a potential benefit for shareholders due to the fee waiver.
• The increase in shareholdings by Tiedemann Advisors and its affiliates could be seen as a positive sign of confidence in the REIT.

Risks

• The document does not provide any information about the financial health of the REIT or the reasons for the fee waiver.
• The document does not provide any information about the potential impact of the increased shareholding on the market.

Management Comments

• The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein.
• This report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

This document reflects a specific transaction related to share ownership and does not provide broader industry context. It is a routine filing related to changes in beneficial ownership.

Comparison to Industry Standards

• The document is a standard SEC filing related to changes in beneficial ownership, which is common for publicly traded REITs.
• Similar filings are made by other investment firms and funds when their ownership stakes change in publicly traded companies.
• The automatic conversion of shares due to a fee waiver is a specific event and not a standard industry practice, but it is a mechanism that can be used by REITs.

Stakeholder Impact

• The increased shareholding by Tiedemann Advisors and its affiliates could potentially increase investor confidence in the REIT.
• The fee waiver benefits the reporting entities by increasing their shareholdings without additional cost.

Key Dates

Keywords

Fortress Net Lease REIT, Tiedemann Advisors, Class D Common Shares, Share Conversion, Fee Waiver, Beneficial Ownership, TTC Multi-Strategy Fund