Privacy Notice

In this privacy notice, the term “Crake” refers to Crake Asset Management LLP, which is incorporated in England and has its registered office is at 78 Cornhill, London EC3V 3QQ.

About this privacy notice

In respect of personal data it collects or generates in the course of its business, including in connection with an investment in funds under its management (each a “Fund”), Crake is a data controller for the purposes of data protection law, such as the UK GDPR (as defined in and supplemented by the Data Protection Act 2018). Crake is responsible for ensuring that it uses such personal data in compliance with data protection law.

This privacy notice applies to you if (i) you are an applicant or prospective applicant for shares in a Fund, (ii) your personal data has been provided to a Fund in connection with an application for shares in the Fund by another person (such as where you are a director, partner, trustee, employee, agent or direct or indirect owner of an applicant or prospective applicant), (iii) you are an investor in a Fund, or (iv) you are an applicant or prospective applicant for a job at Crake. This privacy notice sets out the basis on which personal data about you will be processed by Crake. Please take the time to read and understand this privacy notice.

Personal data that Crake might use

Crake might process the following personal data about you:

(a)        Information provided to a Fund by you or (if different) the applicant or prospective applicant for shares in the Fund: This might include your name and address (including proofs of name and address), contact details, date of birth, gender, nationality, photograph, signature, copies of identity documents, occupational history, job title, income, assets, other financial information, bank details, investment history, tax residency and tax identification information. Such information might be provided in an application form or in other documents (as part of an application process or at other times), face-to-face, by telephone, by email or otherwise.

(b)        Information that a Fund collects or generates in connection with an investment in the Fund: This might include emails (and related data), call recordings, and messages submitted through the website of the Funds’ administrator (the “Administrator”). The Administrator will process, generally as data processor on behalf of the Funds, personal data provided to it in connection with an investment in the Funds.

(c)        Information that Crake or a Fund obtains from other sources in connection with an investment in the Fund: This might include information obtained for the purpose of the Fund’s know-your-client procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-person checks, sanctions checks, among other things), information from government or public bodies, public websites and other public sources and information received from the applicant’s or prospective applicant’s advisers or from intermediaries.

(d)        Information provided to, or otherwise obtained by, Crake in connection with an application for a job at Crake: This might include your name and address (including proofs of name and address), contact details, date of birth, gender, nationality, photograph, education and qualification details, health information (such as disability status) and performance evaluations. Such information might be provided in an application form or in other documents (as part of an application process or at other times), face-to-face, by telephone, by email, from previous employers or otherwise.

Uses of your personal data

Your personal data may be stored and processed by Crake for the following purposes:

(a)        General business administration, including communicating with investors and job applicants, communicating with service providers and counterparties, accountancy and audit services, risk monitoring, decision-making in relation to the Funds, and business strategy, development and marketing.

(b)        Compliance with legal and regulatory obligations and industry standards, including know-your-client procedures, the automatic exchange of tax information, legal judgments, and our legal obligations as an employer.

Crake is entitled to process your personal data in these ways for the following reasons:

(a)        If you are the applicant or prospective applicant for shares in a Fund, you may enter into an investment contract with the Fund and some processing by Crake will be necessary for the performance of that contract.

(b)        Processing may be necessary to discharge a relevant legal or regulatory obligation.

(c)        The processing will, in all cases, be necessary for the legitimate business interests of Crake, the Funds, the Administrator or another person, such as:

(i)         carrying out the ordinary or reasonable business activities of Crake, the Funds, the Administrator or other persons, or other activities previously disclosed to the investors in the Funds or referred to in this privacy notice;

(ii)        ensuring compliance with all legal and regulatory obligations and industry standards, and preventing fraud;

(iii)       establishing, exercising or defending legal rights or for other purposes relating to legal proceedings; and

(iv)       ensuring the security of information systems.

(d)        In respect of any processing of sensitive personal data falling within special categories relating to investors in, or applicants or prospective applicants for shares in, the Funds, such as any personal data relating to the political opinions of a politically exposed person, the processing will be necessary for reasons of substantial public interest.

(e)        In respect of any processing of sensitive personal data falling within special categories relating to applicants for jobs at Crake, such as health information, the processing will be carried out on the basis of the applicant’s explicit consent.

Disclosure of your personal data to third parties

Crake may from time to time, as applicable in accordance with the purposes described above, disclose your personal data to other parties, including (a) the Funds and its other affiliates, (b) the Administrator and its affiliates, (c) other service providers of Crake, the Funds, and the Administrator, and (d) courts and regulatory, tax and governmental authorities. Some of these persons will process your personal data in accordance with Crake’s instructions and others will themselves be responsible for their use of your personal data. These persons may be permitted to further disclose the personal data to other parties.

Transfers of your personal data outside the United Kingdom or the European Economic Area

In relation to investors in, or applicants or prospective applicants for shares in, the Funds, personal data may be transferred to and stored by persons outside the United Kingdom (the “UK”) or the European Economic Area (the “EEA”), or both, and in particular may be transferred to and stored by affiliates or service providers of Crake, the Funds, or the Administrator outside the UK or the EEA.

Where personal data is transferred outside the UK or the EEA, Crake and the Funds will ensure that the transfer is subject to appropriate safeguards or is otherwise permitted under applicable law. The Administrator is authorised as agent of the Funds to put in place standard contractual clauses with relevant parties to whom personal data will be transferred. Please contact the Administrator (using contact details set out in privacy notices for the Funds) for copies of the standard contractual clauses that have been entered into on behalf of the Funds.

Retention of personal data

How long Crake holds your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which Crake is 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 Crake has to keep your personal data).

Your rights

You have a number of legal rights in relation to the personal data that Crake holds about you. These rights include the following:

(a)        The right to obtain information regarding the processing of your personal data and access to the personal data that Crake holds about you.

(b)        In some circumstances, the right to receive some personal data in a structured, commonly used and machine-readable format and the right to request that Crake transmits that data to a third party where this is technically feasible. Please note that this right only applies to personal data which you have provided to Crake.

(c)        The right to request that Crake rectifies your personal data if it is inaccurate or incomplete.

(d)        The right to request that Crake erases your personal data in certain circumstances. Please note that there may be circumstances where you ask Crake to erase your personal data but Crake is legally entitled to retain it.

(e)        The right to object to, and the right to request that Crake restricts, its processing of your personal data in certain circumstances. Again, there may be circumstances where you object to, or ask Crake to restrict, its processing of your personal data but Crake is legally entitled to continue processing your personal data or to refuse that request.

(f)         The right to lodge a complaint with the data protection regulator (details of which are provided below) if you think that any of your rights have been infringed by Crake.

You can exercise your rights by contacting Crake using the details set out under “Contacting Crake” below. You can find out more information about your rights under applicable UK data protection law by contacting the UK’s Information Commissioner’s Office or by searching its website at ico.org.uk.

Contacting Crake

If you would like further information on the collection, use, disclosure, transfer or processing of your personal data or the exercise of any of the rights listed above in relation to Crake or any Fund, please address questions and requests to [email protected].