This policy describes how Intrepid Capital Partners ("ICP") and its affiliates treat personal information collected on the ICP websites (each a "Website"). This policy does not apply to information that ICP may collect through other means.

Information that ICP Collects

Personal Information

When you visit a Website, ICP may collect certain personal information about you, such as your name, address, and email address, as well as any other personal information that you may provide – for example, through submission of forms or other documents.

Nonpersonal Information

ICP will also collect the following nonpersonal information about your visit(s):

• the IP address and domain name used (the IP address is a numerical identifier assigned either to your Internet service provider or directly to your computer);

• the type of browser and operating system you use; and

• the date, time, and duration for which you visit a Website, the number of times you have visited a Website, and where you come from.

For purposes of collecting some of the above-referenced information, ICP uses tracking tools on its Websites, such as browser cookies and web beacons. A cookie and a web beacon are pieces of data stored on your device containing information about your visit. Third-party analytics service providers, such as Google Analytics, may use cookies and web beacons through a Website to provide ICP with information about how you use and interact with the Website.

How ICP Uses Information that It Collects

ICP uses information that it collects in the following ways:

• To respond to your requests or questions

• To inform you about ICP

• To communicate with you about your relationship with us

• To improve a Website and the services provided

• For security purposes.

In addition, ICP may use your information as otherwise permitted by law.

ICP May Share Your Information in Limited Circumstances

ICP may share your information with its employees, agents, or third-party service providers who need to know such information for purposes of performing their jobs, including to respond to requests or questions that you may have. In addition, ICP may share your information with third parties for purposes of complying with legal requirements or to respond to legal requests, such as in the case of a court order or subpoena or in connection with a regulatory investigation. Finally, ICP might also share information that it collects with others when it is investigating potential fraud or for other reasons as permitted by law.

Protection of Information

ICP is strongly committed to protecting any personal information collected through a Website against unauthorized access, use, or disclosure. ICP will not sell or otherwise disclose any personal information collected from a Website, other than as described herein.

In addition, ICP has implemented procedures to safeguard the integrity of its information technology assets, including but not limited to authentication, monitoring, auditing, and encryption. These security procedures have been integrated into the design, implementation, and day-to-day operations of a Website as part of a continuing commitment to the security of electronic content as well as the electronic transmission of information.

For security purposes, ICP employs software to monitor traffic to identify unauthorized attempts to upload or change information or otherwise damage a Website. Any information that an individual provides to ICP by visiting a Website will be stored within the United States. If you live outside of the United States, you understand and agree that ICP may store your information in the United States. Each Website is subject to US laws, which may or may not afford the same level of protection as those in your country. For information on how ICP collects, utilizes, and maintains nonpublic personal information about individuals based in the European Union or the European Economic Area as required under the General Data Protection Regulation (EU), see ICP’s EU GDPR Policy.

Tracking Tools

As indicated above, ICP collects nonpersonal information on its Websites through the use of tracking tools, such as browser cookies. Your browser may give you the ability to control cookies. How you do so depends on the type of cookie. Certain browsers can be set to reject browser cookies. Options you select are browser and device specific. If you block or delete cookies, not all of the tracking that we have described in this policy will stop.

Some websites have "do not track" features that allow you to tell a website not to track you. These features are not all uniform. ICP does not currently respond to those signals. If you block cookies, certain features on ICP’s sites may not work. If you block or reject cookies, not all of the tracking described herein will stop.

Children and Websites

Each Website is meant for adults. ICP does not knowingly collect personally identifiable information from children under age 13. If you are a parent or legal guardian of a child under 13 who believes that child may have visited a ICP web site, please contact the address below.

Links to Other Sites or Third-Party Services

If a link to a third-party site is included on a Website and you click on it, you will be taken to a website ICP does not control. This Policy does not apply to the privacy practices of that website. Read the privacy policy of other websites carefully. We are not responsible for these third-party sites.

Disclaimer and Policy Updates

This Policy should not be construed as giving business, legal, or other advice or warranting as fail-proof the security of information provided through the Website. The Internet is not 100% secure, and ICP cannot promise that your use of a Website or software will be completely safe. ICP disclaims any liability with respect to any information obtained by a third party through illegal entry into or breach of a Website. ICP will maintain all information as long as needed to comply with internal policies or applicable laws or for record-keeping purposes.

ICP will notify you of any material changes in this policy by posting an updated copy on the applicable Websites. Please check the applicable Website periodically for updates.

Contact Information

For questions regarding this privacy policy, please contact

Last updated October 2018

ICP Group - Notice of EU Privacy Policy

ICP (the "Investment Manager") is committed to protecting your privacy and maintaining the confidentiality and security of your personal information. Any personal information processed by the Investment Manager is controlled by the Investment Manager, and the Investment Manager is the data controller of your personal information. When your details are provided to the Investment Manager as a consequence of your investment (or potential investment) in a private investment fund sponsored by ICP (each, a "Fund"), then the Investment Manager, acting as a data controller, may itself (or through a third party) acting in its capacity as the Fund's administrator) process your personal information or, if you are an entity, that of your (i) beneficial owner(s), (ii) employees, and (iii) directors, officers, trustees, general partners, managers, or other persons serving in a similar capacity (as distinguished from the entity itself) (the foregoing collectively, "Your Personal Information"). When processing Your Personal Information, the Administrator may also act as a data controller.

This policy (the "EU Privacy Policy") explains the manner in which the Investment Manager collects, utilizes, and maintains nonpublic personal information about investors and potential investors ("Investors") based in the European Union ("EU") or the European Economic Area ("EEA"), as required under the General Data Protection Regulation (EU) 2016/679 ("GDPR"). This EU Privacy Policy applies to your investment or potential investment in the Fund.

Collection of Your Personal Information

The Investment Manager collects Your Personal Information from the following sources, as applicable:

• subscription documents and other information provided by the Investor in writing, in person, by telephone, electronically, or by any other means (this information includes name, address, income, financial and investment qualifications, tax-related information, birth date, nationality, passport or other identification number, and employment information);

• transactions within the Fund, including account balances, investments, redemptions, and management fees and performance allocations; and

• other interactions with the Investment Manager (for example, discussions with our staff).

Why We Use Your Personal Information

Your Personal Information may be processed by the Investment Manager and/or the Administrator (or any of their affiliates, agents, employees, delegates, or subcontractors) for the following purposes, as applicable:

• to facilitate your investment in the Fund and the management and administration of your investment in the Fund on an ongoing basis (the "Services") as necessary to fulfill all contractual and regulatory obligations related to your investment in the Fund, including without limitation the acceptance and processing of subscription documents and redemption and transfer requests;

• in order to carry out anti-money laundering checks and related actions that the Investment Manager and/or Administrator considers appropriate or necessary to fulfill any of their legal obligations on an ongoing basis (i) with respect to the prevention and/or detection of fraud, money laundering, terrorist financing, bribery, corruption, and/or tax evasion and (ii) to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions, all of the foregoing in accordance with the Investment Manager's and the Administrator's anti-money laundering policies and procedures;

• to comply with their legal obligations and, in particular, to report tax-related information to tax authorities;

• to disclose information to other third parties such as service providers of the Investment Manager and/or Administrator (including, for example, attorneys, accountants, auditors, or other professionals), regulatory authorities, and technology providers in order to comply with any legal obligation imposed on the Investment Manager and/or Administrator or in order to pursue the legitimate interests of the Investment Manager and/or Administrator;

• to monitor and record electronic communications and if applicable, calls, for any of the purposes specified herein; and/or

• to otherwise pursue the legitimate interests of the Investment Manager and/or Administrator relating to your investment or your potential investment in the Fund and/or where the processing of Your Personal Information would be in the public interest.

Countries Having Access to Your Personal Information

The Investment Manager's servers, which store and keep Your Personal Information, are located in the United States.

The Investment Manager also has service providers whose personnel will have access to Your Personal Information and that are located in other jurisdictions. Transfers to these service providers are necessary for the performance of the contract between the Investment Manager and the Investor. These jurisdictions either (i) afford an adequate level of protection for Your Personal Information (as declared by the European Commission) or, (ii) if they do not, then the Investment Manager has entered into agreements with these service providers incorporating clauses that are the same as or substantially similar to the standard contractual clauses, as well as other relevant provisions contained in the GDPR, and impose obligations no less onerous than those contained in this EU Privacy Policy.

Collecting Investor Information Legally

The Investment Manager and the Administrator are able to legally collect and use Your Personal Information because

• you have consented to their doing so;

• it is necessary for the performance of a contract to which the Investor is a party or in order to take steps at the request of the Investor prior to entering into a contract or to otherwise perform the Services;

• collecting and using Your Personal Information is necessary for the Investment Manager and/or the Administrator to fulfill their legitimate business interests, which may include to investigate, defend against, or prosecute any actual, threatened, or potential claim in a court of law or other judicial or regulatory forum or otherwise protect their legal rights; and/or

• it is necessary to comply with any applicable regulatory, judicial, or other legal obligations applicable to Investment Manager and the Administrator.

Retention of Investor Information

The Investment Manager and the Administrator will retain Your Personal Information for the purposes described in 1, 2, and 3 in the immediately preceding paragraph for as long as required for the purposes described above.

In particular, and without limitation to the foregoing, the Investment Manager and the Administrator have obligations imposed on them under applicable legal systems that require them to retain Your Personal Information for certain minimum time periods.

Your Rights

You have the right to

• be informed, as this EU Policy seeks to do, about Your Personal Information that the Investment Manager and/or the Administrator collects from you, uses, and retains;

• obtain confirmation from the Investment Manager that Your Personal Information is being collected, used, and retained as described above and access Your Personal Information held by the Investment Manager and/or the Administrator;

• have Your Personal Information corrected if it is inaccurate or incomplete at any time;

• erasure (or the right to be forgotten) which means you can request deletion or removal of any of Your Personal Information the Investment Manager and/or the Administrator holds at any time, subject to the Investment Manager's or the Administrator's rights to retain Your Personal Information as provided under the GDPR;

• block or suppress the Investment Manager's and/or the Administrator's collecting and using Your Personal Information, which means the Investment Manager and the Administrator can continue to store Your Personal Information but cannot further collect or use it in any way;

• obtain and reuse any of Your Personal Information that the Investment Manager and/or the Administrator holds for your own purposes across different services, which allows you to move, copy, or transfer Your Personal Information easily from the Investment Manager and/or the Administrator to another place identified by you to the Investment Manager in a safe and secure way without hindrance to the usability of Your Personal Information;

• object to the Investment Manager's and/or the Administrator's collecting, using, or retaining Your Personal Information when this is based on

• your legitimate interest or the performance of a task in the public interest or

• your desire not to receive direct marketing even if otherwise legally permitted; and

• withdraw your consent to the use of Your Personal Information at any time, as described below.

To make any requests as listed above, please contact the Investment Manager at

The Investment Manager will respond to requests relating to your rights above within one month of receipt of your request or within two months of receipt of your request when the request is more complex.

Withdrawal of Your Consent

You can tell the Investment Manager to stop collecting, using, and retaining Your Personal Information at any time by emailing the Investment Manager at You should note that notwithstanding your withdrawal of consent, the Investment Manager and the Administrator may be legally required to retain some or all of Your Personal Information.

When the Investment Manager or the Administrator requires Your Personal Information to comply with AML or other legal requirements, failure to provide this information will mean that you will be unable to be accepted as an investor in the Fund and/or may be mandatorily redeemed from the Fund if you are already an Investor.

Protection of Investor Information

The Investment Manager maintains appropriate technical and organizational measures to ensure a level of security appropriate to address potential risks, including physical, electronic, and procedural safeguards that comply with the GDPR to protect customer information, including

• the pseudonymization and encryption of Your Personal Information when appropriate;

• ensuring the ongoing confidentiality, integrity, availability, and resilience of processing systems and services;

• ensuring that the Investment Manager can restore access to Your Personal Information in a timely manner if a physical or technical incident occurs; and

• regular testing, assessment, and evaluation of the effectiveness of its technical and organizational measures to attempt to ensure Your Personal Information is secure.

The Investment Manager restricts access to the personal and account information of Investors to those employees who need to know that information in the course of their job responsibilities. The Investment Manager will destroy, erase, or make unreadable data, computer files, and documents containing Your Personal Information that is nonpublic prior to disposal.

Making a Complaint

If you would like to make a complaint about the way the Investment Manager has collected, used, or retained Your Personal Information, please contact us at

You have the right to lodge a complaint with a supervisory authority in the EU Member State of your habitual residence or place of work, or place of the alleged infringement if you consider that the processing of Your Personal Information carried out by the Investment Manager or its service providers infringes the GDPR.

Former Customers and Investors

This EU Privacy Policy also applies to former Investors in the EU and the EEA.

Further Information

This EU Privacy Policy is in addition to the Investment Manager's existing Privacy Policy adopted under U.S. law, a copy of which is available from the Investment Manager. The Investment Manager reserves the right to change this EU Privacy Policy at any time and without prior notification. The examples contained within this EU Privacy Policy are illustrations and are not intended to be exclusive. This EU Privacy Policy is intended to comply with the GDPR regarding privacy. You may have additional rights under other foreign or domestic privacy laws. If you have any questions about this EU Privacy Policy, please call or email us at No further action is required on your part.