We are pleased that you have elected to visit our website. Avenue Capital Management II, L.P., Avenue Europe International Management, L.P., Avenue Asia Capital Management, L.P. and Avenue Credit Management, L.P. (collectively, with their Affiliates (as such term is defined below), referred to in this Privacy Policy as “we,” “us” or “Avenue Capital Group”) are committed to safeguarding the private information entrusted to us by our clients, prospective clients, business partners and employees. Avenue Capital Group has implemented this Privacy Policy to govern the use of personally identifiable information (“Personal Information”) that we collect via the Avenue Capital Group website or that clients, prospective clients, other business partners or employees send to Avenue Capital Group when communicating electronically with Avenue Capital Group or its designees via this website, email, file-transfer protocol or otherwise. Furthermore, this Privacy Policy is incorporated by reference into the Terms and Conditions of Avenue Capital Group’s website. Residents of the European Union, Cayman Islands and the State of California, United States of America should review the sections pertaining to each respective jurisdiction at the end of this Policy.
Our “Affiliates” are companies controlled or owned by us, or companies that control us, or are under common control with us.
COLLECTION AND USE OF PERSONAL INFORMATION
Information Collected
In the course of its business, Avenue Capital Group may collect personal data from public and non-public sources regarding clients, prospective clients, other business partners or employees. Such Personal Information may include:
1) Information that an individual provides to Avenue Capital Group, including name, contact information (including mailing address, e-mail address and telephone numbers), financial information (including bank or brokerage account information and wire transfer instructions), information relating to sources of funds, government-issued identification numbers (including social security numbers, tax identification numbers and passport numbers) or citizenship status in connection with making an investment in a fund or account managed by Avenue Capital Group, in connection with employment with Avenue Capital Group, or otherwise in the course of doing business with Avenue Capital Group.
2) Information relating to a client’s investment in a fund or account managed by Avenue Capital Group, such as tax status, transaction-related information or capital account balances.
3) Information that Avenue Capital Group (or its third-party vendors or designees) collects about a client, prospective client, business partner or employee in connection with implementing its Anti-Money Laundering/”Know Your Customer” policy and related policies. Such information may be collected through subscription documentation provided by the client, prospective client, or business partner, employment documentation, by a credit reporting agency or credit bureau, background check provider, fraud prevention organization or by a third-party due diligence vendor, which may aggregate such information from public or non-public sources.
4) Information that is automatically collected by Avenue Capital Group through this website (including “cookies,” which are described in “Use of Cookies” below), which can include date and time of access of the website, the Internet protocol address of the computer that an individual is using while accessing this website, the domain and host from which you access the Internet, your browser software and operating system, and the specific activities in which an individual is engaged while visiting this website.
5) Any other Personal Information that an individual may choose to share with Avenue Capital Group that either such individual or Avenue Capital Group deems necessary or desirable to share.
How Personal Information Is Used
We may use Personal Information that we obtain about an individual for the following purposes, subject to applicable law or regulation (including when an individual’s consent is required by applicable law):
1) In order to process an investment by an individual (or an entity affiliated with such individual), including establishing a capital account for the investor and conducting anti-money laundering and “know your customer” due diligence.
2) In order to communicate with clients, prospective clients or other business partners.
3) In order to effect financial transactions during the course of a business relationship between the individual and Avenue Capital Group (including processing fund distributions, redemptions or other returns of capital and capital calls).
4) In order to prepare and provide tax-related documentation.
5) In connection with the commencement, maintenance or termination of an individual’s employment.
6) In order to comply with regulatory requirements (including, potentially, disclosure of Personal Information to a governmental or regulatory authority in order to comply with Anti-Money Laundering or other related regulations promulgated by a jurisdiction) or complying with a prime broker, custodian, administrator, broker-dealer, other investment counterparty or third-party service provider or business partner’s due diligence or “Know Your Customer” requirements.
7) In connection with the expansion or growth of Avenue Capital Group’s business, including the creation and marketing of new funds or other investment products.
8) In connection with an audit or examination by a third-party auditor or regulatory authority, in connection with the prevention or investigation of potential fraud or other criminal activity or the mitigation of any liability or potential liability of Avenue Capital Group, in connection with security initiatives or the maintenance of Avenue Capital Group’s information technology systems or infrastructure, or to enforce any legal rights of Avenue Capital Group.
9) In order to fulfill any other legal or regulatory obligations of Avenue Capital Group or any fund or account managed by Avenue Capital Group.
10) In following any industry best practices in connection with the use of information.
11) To manage the website’s functionality (see “Use of Cookies” below).
In connection with the above uses of Personal Information set forth above, Avenue Capital Group may disclose such Personal Information to our Affiliates or to third-party vendors or service providers (including, without limitation, fund administrators or vendors that provide data processing, computer software maintenance and development, transaction processing, marketing services or human resources/payroll services, and companies providing professional, legal or accounting advice to Avenue Capital Group).
To the extent Avenue Capital Group discloses Personal Information to a third-party vendor or service provider, in addition to any related requirements set forth in applicable law, Avenue Capital Group requires that these companies agree to (a) maintain the confidentiality of your Personal Information and (b) limit the use of such Personal Information to the purposes for which it was provided. Furthermore, in compliance with applicable privacy laws we also provide our opt-out lists to non-affiliated third party companies so that they can be suppressed from the communications those companies send on Avenue Capital Group’s behalf.
Finally, under limited circumstances, regardless of whether you have chosen to limit our sharing of your Personal Information, your Personal Information may be disclosed to non-affiliated third parties as either permitted by, or to comply with, applicable laws and regulations. For example, Avenue Capital Group may disclose your Personal Information to comply with investigations by regulatory authorities or enforcement agencies in the United States of America or elsewhere, or to protect against or prevent actual or potential fraud. Furthermore, Avenue Capital Group may disclose your Personal Information if it has a reasonable good faith basis to believe that it is required to do so by law, compelled by court order or legal process, or is reasonably necessary and/or appropriate to: (i) protect the rights, property and/or safety of Avenue Capital Group or any other person or entity; or (ii) prevent or take action concerning any alleged: (a) illegal activity or (b) breach of the Terms and Conditions of this website or Avenue Capital Group’s Privacy Policy. Avenue Capital Group will use commercially reasonable efforts, to the extent required by applicable law, to include contractual provisions in the services agreements or other engagement documentation with any applicable third-party service providers or vendors that require such third-party service providers to process Personal Information in accordance with applicable law, to the extent they conduct such activities. Residents of the European Union, Cayman Islands and State of California should review the succeeding sections of this Privacy Policy applicable to them for further information relating to privacy and data protection law in effect in their jurisdiction of residence.
Although Avenue Capital Group may track the number of visits to each of the pages of its website, no Personal Information is collected in the process.
Avenue Capital Group may also monitor or record telephone calls, video conferences or other electronic correspondence in order to comply with applicable legal or regulatory obligations or otherwise in connection with the operation of its business.
USE OF COOKIES
The website makes use of “cookies” - small data files which we may send to your computer on the basis of the information that we have collected about your visit. Cookies are stored in your computer’s browser or on your hard disk and can then be retrieved by the website. The website only uses so-called “session” cookies, which are deleted from your computer when you leave the website. Most web browsers can be set to prevent you from receiving new cookies, notify you before accepting cookies or disable cookies altogether. Details about this can normally be found in the Help facility provided with your browser.
RETENTION AND SAFEGUARDING OF PERSONAL INFORMATION
Avenue Capital Group intends to retain Personal Information to the extent provided in its data retention policies or as otherwise permitted by applicable law in order to further legitimate business purposes.
To the extent any Personal Information is retained, Avenue Capital Group maintains reasonable standards of confidentiality and security for storage of Personal Information. Personal Information collected by Avenue Capital Group is secured using industry standard security technology. Avenue Capital Group also restricts its own employees’ access to Personal Information. However, it is possible that someone may intercept or access communications, transmissions and/or Personal Information. In the event that Avenue Capital Group determines that there has been a security breach resulting in the unauthorized disclosure of Personal Information to a third party, Avenue Capital Group will promptly (or in compliance with any notification deadline required by applicable law) notify consumers whose Personal Information it reasonably believes has been compromised and, if email contact is possible, then also by sending an email advisory with respect to the situation.
If you access the website from a country with strict data protection laws you should be aware that, by interacting with the website, you may be sending information about yourself to Avenue Capital Group in the United States of America or other countries which do not have strict data protection laws.
NOTICE TO RESIDENTS OF THE EUROPEAN UNION AND THE CAYMAN ISLANDS
Avenue Capital Group maintains policies and procedures in order to comply with the European Union General Data Protection Regulation 2016/679 (“GDPR”) and the Data Protection Law, 2017 of the Cayman Islands (“Cayman Islands DPL”). This section applies only to individuals who are residents of the European Union or Cayman Islands.
GDPR and Cayman Islands DPL – Collection and Use of Personal Information
Avenue Capital Group collects and uses Personal Information as set forth in “Collection and Use of Personal Information” above for all clients, prospective clients, business partners and employees located within and without the European Union or Cayman Islands. Avenue Capital Group deems it to be reasonably necessary to collect such Personal Information in order to effectively operate its business or comply with applicable law. For example, we must collect Personal Information in order to comply with international Anti-Money Laundering/”Know Your Customer” standards, to comply with other applicable law, as well as its own related internal policies and procedures. Avenue Capital Group must also collect Personal Information in order to process financial transactions in connection with a fund or account managed by Avenue Capital Group, as well as to communicate with investors in such funds or accounts. Avenue Capital Group must also collect and process Personal Information in connection with internal systems administration and internal risk assessments. Finally, Avenue Capital Group must also collect Personal Information from employees in order to conduct standard due diligence on such employees and in connection with such employee’s compensation and tax obligations. As such, Avenue Capital Group collects, uses and retains such Personal Information in furtherance of legitimate business purposes.
Avenue Capital Group may disclose such Personal Information to third parties as set forth in “How Personal Information is Used” above. Such third parties may reside within and outside the European Economic Area (“EEA”) or Cayman Islands. When transferring Personal Information from within the EEA to countries outside the EEA, Avenue Capital Group complies with GDPR and other applicable law by using Standard Contractual Clauses (as promulgated by the European Commission) or by adopting other means reasonably expected to ensure that adequate safeguards are applied in compliance with GDPR standards. When transferring Personal Information from within the Cayman Islands to outside the Cayman Islands, we adopt means reasonably expected to ensure that adequate safeguards are applied in compliance with Cayman Islands DPL standards.
Safeguarding of Personal Information
Avenue Capital Group maintains established internal policies and procedures as well as physical and electronic safeguards that comply with applicable law, as well as industry standards, to safeguard access to Personal Information in our possession from accidental or unlawful destruction, loss, alteration, unauthorized use or disclosure. We endeavor to limit access to Personal Information about you to those employees, agents and other authorized parties who need to know the information to enable Avenue Capital Group to provide products or services to you.
Retention of Personal Information
Personal Information stored by Avenue Capital Group is generally retained for a period of ten years from (a) the date the data record was created or (b) a particular trigger event depending on the type of data record containing the Personal Information. Examples of trigger events are (i) the tax filing year in which an invoice for services received is paid, (ii) date of contract expiration or termination, and (iii) account closure or fund dissolution date.
Rights of Individuals Residing in the European Union or Cayman Islands
To the extent set forth in GDPR or the Cayman Islands DPL, you may have certain rights relating to the collection and use of your Personal Information, including the right to (i) request a copy of the Personal Information retained by Avenue Capital Group and to correct any inaccurate information contain within; (ii) delete any Personal Information retained by Avenue Capital Group; (iii) limit the processing of Personal Information retained by Avenue Capital Group, including the purposes for which Personal Information is processed by or on behalf of Avenue Capital Group; (iv) direct the transfer of your Personal Information to a third party designated by you and (v) be notified of a breach of the security of your Personal Information within the timeframe set forth by GDPR or the Cayman Islands DPL, as applicable. Residents of the European Union or Cayman Islands may also “opt out” or unsubscribe from any marketing communications from Avenue Capital Group. The above rights are subject to any limitations or exceptions set forth in GDPR or Cayman Islands DPL, as applicable. An individual may contact Avenue Capital Group’s Representative Agent at the contact information set forth below if he or she wishes to exercise any of the rights set forth herein. Furthermore, an individual may contact the data protection regulatory authority located in his or her country of residence, or to the extent the individual resides in the Cayman Islands, the Cayman Islands ombudsman, to lodge a complaint about the collection, use or processing of Personal Information by Avenue Capital Group.
Avenue Capital Group has designated Stuart Holcombe as Data Protection Officer in compliance with Article 37 of GDPR.
Mr. Holcombe’s contact details are as follows:
Avenue Capital Group
1 Knightsbridge Green, 6th Floor
London, SW1X 7QA United Kingdom
Telephone: +44 207 245 1885
E-mail: websiteprivacy@avenuecapital.com
NOTICE TO RESIDENTS OF THE STATE OF CALIFORNIA
A resident of the State of California who has provided Personal Information to Avenue Capital Group, or regarding whom Avenue Capital Group has collected Personal Information, may have rights under the California Consumer Privacy Act of 2018 (“CCPA”), effective January 1, 2020. This section applies only to individuals who are residents of the State of California, United States of America.
CCPA – Collection and Use of Personal Information
Avenue Capital Group collects and uses Personal Information as set forth in “Collection and Use of Personal Information” above for all clients, prospective clients, business partners and employees located within and without the State of California. Avenue Capital Group deems it to be reasonably necessary to collect such Personal Information in order to effectively operate its business or comply with applicable law. For example, we must collect Personal Information in order to comply with international Anti-Money Laundering/”Know Your Customer” standards, to comply with other applicable law, as well as its own related internal policies and procedures. Avenue Capital Group must also collect Personal Information in order to process financial transactions in connection with a fund or account managed by Avenue Capital Group, as well as to communicate with investors in such funds or accounts. Avenue Capital Group must also collect and process Personal Information in connection with internal systems administration and internal risk assessments. Finally, Avenue Capital Group must also collect Personal Information from employees in order to conduct standard due diligence on such employees and in connection with such employee’s compensation and tax obligations. As such, Avenue Capital Group collects, uses and retains such Personal Information in furtherance of legitimate business purposes.
Avenue Capital Group may disclose such Personal Information to third parties as set forth in “How Personal Information is Used” above. Such third parties may reside within and outside the State of California.
Safeguarding of Personal Information
Avenue Capital Group maintains established internal policies and procedures as well as physical and electronic safeguards that comply with applicable law, as well as industry standards, to safeguard access to Personal Information in our possession from accidental or unlawful destruction, loss, alteration, unauthorized use or disclosure. We endeavor to limit access to Personal Information about you to those employees, agents and other authorized parties who need to know the information to enable Avenue Capital Group to provide products or services to you.
Retention of Personal Information
Personal Information stored by Avenue Capital Group is generally retained for a period of ten years from (a) the date the data record was created or (b) a particular trigger event depending on the type of data record containing the Personal Information. Examples of trigger events are (i) the tax filing year in which an invoice for services received is paid, (ii) date of contract expiration or termination, and (iii) account closure or fund dissolution date.
Rights of Individuals Residing in the State of California
To the extent set forth in the CCPA, you may have certain rights relating to the collection and use of your Personal Information, including the right to (i) request specific and detailed information regarding the exact types of Personal Information collected and retained by Avenue Capital Group within the preceding 12 months and specific and detailed information regarding the uses of such Personal Information and the third-parties to whom such Personal Information has been shared within the preceding 12 months; (ii) delete any Personal Information retained by Avenue Capital Group and (iii) be notified of a breach of the security of your Personal Information within the timeframe set forth by the CCPA. The above rights are subject to any limitations or exceptions set forth in the CCPA. An individual may contact Avenue Capital Group’s California Privacy Rights Administrator at the contact information set forth below if he or she wishes to exercise any of the rights set forth above.
Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Attn: California Privacy Rights Administrator
Electronic Mail Address: californiaprivacy@avenuecapital.com
Sale of Personal Information
Avenue Capital Group does not sell to any third party, and as of the date of this Privacy Policy does not intend to sell to any third party, any Personal Information of any individual retained by or on behalf of Avenue Capital Group. Avenue Capital Group endeavors to notify all residents of the State of California about whom it retains Personal Information in the event that it intends to sell such Personal Information to a third party. Such notice will contain information regarding a California resident’s rights under the CCPA with respect to the sale of such resident’s Personal Information and be delivered to such individuals within a reasonable period of time to allow such individuals to exercise any such rights.
REPRESENTATIVE AGENT
To the extent you have any questions about this Privacy Policy, to request any information about the collection, use or retention of your Personal Information, or to exercise any rights you may have as a resident of an applicable jurisdiction, please contact our Representative Agent at the contact information below:
Representative Agent: Andrew Schinder
Address: Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Telephone number: 212-878-3520
Electronic Mail Address: websiteprivacy@avenuecapital.com
USE OF THIS WEBSITE
This website is operated by, or on behalf of, Avenue Capital Group. Not all products and services listed on this website are available in all geographic areas. To the extent that access, distribution and/or use of this website would be deemed illegal by applicable law, such access, distribution and/or use of this website is prohibited.
LINKS TO OTHER WEBSITES
From time to time, the Avenue Capital Group website may contain links to other websites that are not controlled and/or maintained by Avenue Capital Group. Please be aware that these other websites may have different privacy policies which may subject you to different privacy practices. Please review the privacy policies of such other websites for information concerning what information is collected on such websites and how it is used.
CHANGES IN POLICY
This Privacy Policy applies to current and former Avenue Capital Group consumer customers, and in certain circumstances, to individual representatives of institutional customers. From time to time, Avenue Capital Group's Privacy Policy may change. Avenue Capital Group will post changes to the Privacy Policy on this website. Please review this Privacy Policy often so that you will remain abreast of Avenue Capital Group's current policies, including its policies concerning the gathering and use of information that may be collected on our website. You are responsible for making sure you are aware of the provisions of Avenue Capital Group’s most current Privacy Policy. This Privacy Policy was last updated in January 2020.
GOVERNING LAW
This Privacy Policy shall be governed by the laws of the State of New York of the United States of America, without regard to its conflict of law provisions. Any dispute concerning this Privacy Policy or your use of this website shall be submitted to binding arbitration in New York within one (1) year from the date that the cause of action arose (or, if multiple cause of actions are involved, from the date that the first cause of action arose), with such arbitration conducted pursuant to the then prevailing rules of the American Arbitration Association. To the fullest extent permitted by law, no arbitration brought pursuant hereto shall be joined to any other action or any other arbitration initiated pursuant hereto. In the event that any portion of this Privacy Policy is deemed unenforceable, unlawful or void by a Court of competent jurisdiction, in any jurisdiction for any reason because of the scope, duration or area of its applicability or for other reasons, unless narrowed by construction, such provision shall for purposes of such jurisdiction only, be construed as if such invalid, prohibited or unenforceable provision had been more narrowly drawn so as not to be invalid, prohibited or unenforceable (or if such language cannot be drawn narrowly enough, the court making any such determination shall have the power to modify, to the extent necessary to make such provision or provisions enforceable in such jurisdiction, such scope, duration or area or all of them, and such provision shall then be applicable in such modified form). If, notwithstanding the foregoing, any such provision would be held to be invalid, prohibited or unenforceable in any jurisdiction for any reason, such provision, as to such jurisdiction only, shall be ineffective to the extent of such invalidity, prohibition or unenforceability, without invalidating the remaining provisions. No narrowed construction, court-modification or invalidation of any provision shall affect the construction, validity or enforceability of such provision in any other jurisdiction. No waiver by Avenue Capital Group of any provision of this Privacy Policy shall be deemed a further or continuing waiver of such provision, and Avenue Capital Group’s failure to assert any right or demand compliance with any provision of this Privacy Policy shall not be deemed to constitute a waiver of any such right or provision. Furthermore, if any portion of this Privacy Policy is deemed unenforceable, unlawful or void by a Court of competent jurisdiction, then that portion of the Privacy Policy will be deemed severable and will not affect the enforceability or validity of the remaining portions of this Privacy Policy.
CONTACT US
If you have any questions concerning this Privacy Policy (other than with respect to California Privacy rights), you may contact us at websiteprivacy@avenuecapital.com or write to us at:
Avenue Capital Group
11 West 42nd Street, 9th Floor
New York, New York 10036 United States of America
Attn: Privacy Administrator
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