CHANGE Global Developing Markets Select, LP

No prior EDGAR filings from this manager create a blank slate: this could be a first-time SEC filer moving into hedge fund space, a manager previously operating below the 15-LP threshold, or a rebranded entity, meaning due diligence must rely entirely on reference calls and side letters rather than a filing history that shows evolution across vintages.

A mid-2026 amendment in developing markets signals either a reset following performance review or LP redemption pressure, positioning to capture flows into EM volatility as macro uncertainty persists; alternatively, the amendment may reflect LP requests for new share classes or terms adjustments rather than a fresh capital raise.

Before committing, verify whether Theodora Jamison is subject to a key-person provision tied to remaining in the fund through fund life, and confirm the actual final close date and hard-stop deadline—amendment filings sometimes reset terms, and a $152M target from an untracked manager warrants confirmation that the PPM reflects current GP compensation, expense caps, and any side pockets for concentrated emerging-market positions.