HG Vora Capital Management, LLC

HG Vora Capital Management primarily advises pooled private funds and institutional accounts, operating a series of master-feeder and segregated portfolio structures and managing approximately $5.87 billion in regulatory assets under management as of December 31, 2025. The firm provides discretionary investment management focused on event-driven and value-oriented strategies that take long and short positions in actively traded debt and equity and, for certain funds, invests in less-liquid and opportunistic opportunities.

Investment decisions are based on fundamental credit and corporate analysis, legal-document review and bottom-up research, with portfolios employing negotiated financings, distressed positions, derivatives, short sales and selective use of leverage to pursue absolute, risk-adjusted returns. HG Vora runs concentrated strategies through its Opportunistic Capital series and a Downriver segregated-portfolio platform that can target single investment opportunities, and it applies an ESG policy to the extent factors are material to investment returns.

Notable operational features disclosed in the brochure include the use of third‑party placement agents and capital introductions from prime brokers to source investor commitments and the firm’s practice of negotiating side‑letter arrangements where applicable. The firm also discloses a March 2024 SEC settlement relating to a late Schedule 13D filing, and states that neither it nor its management persons are registered (nor have pending applications) as a futures commission merchant, commodity pool operator or commodity trading advisor.