LHA Short Alpha Composite II, L.P.

John Hassett operates this vehicle as sole named GP under exemption 06c (leveraged funds), which allows him to manage a composite short-alpha strategy without advertising or broad LP solicitation constraints; the single-GP structure and absence of historical filings suggest this manager either previously managed capital through direct relationships or is consolidating a prior operating entity into a registered fund vehicle for the first time.

A mid-2026 filing for a short-bias or composite short fund aligns with elevated volatility expectations and tactical hedge positioning as markets price in 2H 2026 policy uncertainty; the placeholder offering allows the manager to announce the fund without disclosing target size until market conditions and LP demand clarify.

Verify whether this Composite II fund is a continuation or spin-off of the prior vintage—specifically, whether existing LPs in Fund I have priority commitments, whether there is a key-man clause tied to Hassett's continued involvement, and whether the 06c exemption restricts the LP base to accredited investors or imposes position concentration limits on short holdings that affect strategy flexibility.