Forum Structured

Finance Fund

Targeting equity-like returns with debt-like risk*

Forum Structured Finance LP (“FSF” of “Fund”) closed September 30, 2024.

FSF is designed to deliver equity-like returns while managing debt-like risk*. This privately offered investment vehicle focuses on providing mezzanine debt, preferred equity, participating preferred equity, and joint-venture equity to qualified third-party sponsors. Through these financing structures, we support ground-up developments, value-add repositioning, and acquisitions of multifamily and similar property types in high-growth markets across the U.S. Our approach enables sponsors to execute their vision while offering investors access to potential growth opportunities backed by strategic, targeted investments.

FSF’s Target Investments

  • Mezzanine Debt
  • Preferred Equity
  • Joint-Venture Equity
  • Co-GP Equity
  • Whole Loan Financing

Investment Opportunity

Risk/
Return
Profile1 		Investment
Structures 		Typical Loan
to Cost (LTC)2
Potential Risk & Return High Low
Co-GP Equity 100%
JV Equity 95%
Preferred Equity/
Mezzanine Debt 		50%-80%
FSF'S
FOCUS
Construction Loan/
Senior Debt 		0%-50%

This investment is speculative, high risk, and not suitable for all investors.

*Over an equity market cycle, the Fund seeks to generate an “equity-like” return, while displaying “debt-like” volatility. For clarity, results within one standard deviation of the associated metric would be considered “-like.”

1 Risk/return is not guaranteed for any investment vehicle.

2 These percentages are estimated and based off of recent opportunities reviewed by Forum. These percentages are subject to change at any time and Forum is not obligated to inform any investor or prospect of any changes.

Why FSF?

  • Forum Integrated Team

    Cross-disciplinary, in-house team with experience in market research, sourcing and underwriting, property management, construction, and development.

  • Seasoned Team

    Experience matters: A seasoned team led by Portfolio Managers with a combined 50 years of experience of deploying capital through a proprietary and exclusive network.

  • Reliable Market Opportunity: Housing Imbalance

    The average new monthly mortgage payment has surpassed the average monthly multifamily rent since 2021, making homeownership out of reach for many Americans.

  • Diversified Portfolio

    The Fund has a diversified portfolio of investments with various sponsors in multiple markets.

Certain Risk Factors

An investment in the Fund, if actualized, is speculative and entails a high degree of risk. There can be no assurance that the Fund will be actualized, or if it does, that its investment objectives will be achieved, and investors will not incur losses. Moreover, an investment in the Fund, if actualized, will provide limited liquidity since the interests therein will not be freely transferable, and the investors in the Fund will have very limited withdrawal rights. An investor in the Fund must be prepared to bear the risk of an investment in the Fund for an indefinite period and be able to withstand a total loss of its investment. Prospective investors should read the risk factors and disclosures set forth in the PPM.

Conflicts of Interest

Various potential and actual conflicts of interest will arise as a result of the overall investment activities of Forum and its affiliates (including Forum CRE Income Fund, a closed- end fund registered under the Investment Company Act of 1940), the Fund, and the General Partner. Among other things, certain investment opportunities may be appropriate for the Fund as well as other accounts or funds managed by Forum. Such investment opportunities will be allocated in accordance with an allocation policy adopted by Forum, which sets out the processes to be followed to mitigate conflicts of interest that may arise. Prospective investors should read the disclosure regarding actual and potential conflicts of interest as set forth in the PPM and other Offering Materials, which should be carefully evaluated before making an investment in the Fund.

CERTAIN LEGAL DISCLOSURES AND CONSIDERATIONS

These materials do not constitute an offer to sell or a solicitation of an offer to purchase securities in any state or jurisdiction, but merely present an overview of Forum Structured Finance LP (the “Fund”). Investments in the Fund’s interests will be made solely by means of one or more confidential private placement memorandum, operating agreements and subscription documents for the Fund (the “Offering Materials”). The information contained herein is intended to serve solely to determine the level of interest, if any, that potential investors may have to invest in the Fund’s interests. These materials do not constitute a part of the Offering Materials. Interests in the Fund’s investment vehicles may be acquired only by persons who meet certain specified suitability standards, as described in the Offering Materials.

Certain confidential and proprietary information of Forum Investment Group and its affiliates (collectively, “Forum”) is included in these materials. Receipt of these materials is an agreement by the recipient that such information will not be copied, used or disclosed, except in connection with the evaluation by such recipient of a possible investment opportunity in the Fund, and to return this material to Forum if requested to do so.

The statements contained herein that are not historical facts are forward-looking statements within the meaning of the U.S. Federal securities laws. The forward-looking statements are based on current expectations, beliefs, assumptions, estimates, and projections about the industry and markets in which the Fund expects to operate. Words such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue,” “plan,” “seek,” or “believe,” or other variations thereon or comparable terminology identify such forward-looking statements. Forward-looking statements contained herein, or other statements made for or on behalf of the Fund, Forum or their affiliates, either orally or in writing from time to time, are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. These statements include, among other things, statements regarding Forum’s intent, belief or expectations with respect to the type and quality of the investments it may recommend; the target returns, coupons, IRR and distributions to investors; performance of any hypothetical portfolios, and Forum’s investment strategy generally. Due to various risks and uncertainties, actual results or performance of the Fund may differ materially from the results or performance reflected or contemplated in such forward-looking statements. The forward- looking statements contained herein are made as of the date of this presentation, and none of the Fund, Forum or their affiliates assumes the obligation, or intends, to update any forward-looking statements to reflect changes in the underlying assumptions or factors, new information, future events, or other changes. Past performance is not necessarily indicative of future results.

The information discussed herein is for informational purposes only, and is not intended to provide, and should not be relied on, for investment, tax, legal or accounting advice. The contents of this communication are not provided with regard to your specific investment objectives, financial situation, tax exposure or particular needs. Nothing presented should be used as the basis for making any specific investment, business or commercial decision. You should consult your personal tax, legal and accounting advisors before engaging in any transaction. Investments, including interests in real estate and private equity funds, are subject to investment, tax, regulatory, market, macro- economic and other risks, including loss of the principal amount invested. The contents herein are subject to change and may be modified, deleted or replaced at any time in Forum’s sole discretion. Forum assumes no responsibility for, nor makes any representations, endorsements, or warranties whatsoever in relation to the timeliness, accuracy and completeness of any content contained in the communication.

Unless otherwise indicated, the information contained herein is current as of the date of this presentation and is believed to be reliable and has been obtained from sources believed to be reliable, but no representation or warranty is made, expressed or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of the information and opinions. Additionally, there is no obligation to update, modify or amend this communication or to otherwise notify potential investors in the event that any matter stated herein, or any opinion or prediction set forth herein, changes or subsequently becomes inaccurate.

Past performance is not indicative of future results and there can be no assurance that the future performance of any specific investment, investment strategy, or product will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.