# SIGULER GUFF GLOBAL MARKETS, LLC X-17A-5 (2024-03-26) — Broker-dealer annual report

- Company: SIGULER GUFF GLOBAL MARKETS, LLC
- Form: X-17A-5
- Filed: 2024-03-26
- Period: 2023-12-31
- Accession: 0001533880-24-000001
- CIK: 1533880
- File #: 8-68996
- Type: Broker-dealer
- Material weakness: No
- Auditor: Marcum LLP
- Auditor location: Saddle Brook, NJ
- Contact: CHAD KIRSCHENBLATT
- Phone: 516 222 9111
- Email: chad.kirschenblalt@jrsfinanclalservices.com
- Website: jrsfinanclalservices.com
- Signed by: Jun Isoda (CFO)

Original filing: https://www.sec.gov/Archives/edgar/data/1533880/000153388024000001/sggmpublic.pdf

---

{0}------------------------------------------------

# SIGULER GUFF GLOBAL MARKETS, LLC (A Limited Liability Company)

## STATEMENT OF FINANCIAL CONDITION

DECEMBER 31, 2023

{1}------------------------------------------------

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 

0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12

# **ANNUAL REPORTS FORM X-17A-5 PART** Ill

**FACING PAGE** 

|         | SEC FILE NUMBER |  |  |  |  |  |
|---------|-----------------|--|--|--|--|--|
|         |                 |  |  |  |  |  |
| 8-68996 |                 |  |  |  |  |  |
|         |                 |  |  |  |  |  |

MM/DD/VY

**Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934**  FILING FOR THE PERIOD BEGINNING **O 1/01/2023**  MM/DD/YY AND ENDING **12/31/2023 A. REGISTRANT IDENTIFICATION** 

# NAME oF FIRM: \_S\_ig\_u\_l\_e\_r \_G\_u\_ff\_G\_lo\_b\_a\_l \_M\_a\_r\_ke\_t\_s\_, \_L\_LC \_\_\_\_\_\_\_\_ \_

TYPE OF REGISTRANT (check all applicable boxes):

~ Broker-dealer □ Security-based swap dealer D Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant

ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.)

# 200 Park Avenue, 14th floor

|                                                                                         | (No. and Street)                                           |                 |                                             |  |  |  |
|-----------------------------------------------------------------------------------------|------------------------------------------------------------|-----------------|---------------------------------------------|--|--|--|
| New York                                                                                | NY                                                         |                 | 10166                                       |  |  |  |
| (City)                                                                                  | (State)                                                    |                 | (Zip Code)                                  |  |  |  |
| PERSON TO CONTACT WITH REGARD TO THIS FILING                                            |                                                            |                 |                                             |  |  |  |
| Chad Kirschenblatt                                                                      | 516-393-5603                                               |                 | chad.kirschenblalt@jrsfinanclalservices.com |  |  |  |
| (Name)                                                                                  | (Area Code - Telephone Number)                             | (Email Address) |                                             |  |  |  |
|                                                                                         | B. ACCOUNTANT IDENTIFICATION                               |                 |                                             |  |  |  |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*<br>Marcum LLP |                                                            |                 |                                             |  |  |  |
|                                                                                         | (Name - if individual, state last, first, and middle name) |                 |                                             |  |  |  |
| Park 80 West, 250 Pehle Avenue, Suite 601                                               | Saddle Brook                                               | NJ              | 07663                                       |  |  |  |
| (Address)                                                                               | (City)                                                     | (State)         | (Zip Code)                                  |  |  |  |
| 10-16-2003                                                                              |                                                            | 688             |                                             |  |  |  |
|                                                                                         |                                                            |                 |                                             |  |  |  |

| Park 80 West, 250 Pehle Avenue, Suite 601       | Saddle Brook          | NJ      | 07663                                      |
|-------------------------------------------------|-----------------------|---------|--------------------------------------------|
| (Address)                                       | (City)                | (State) | (Zip Code)                                 |
| 10-16-2003                                      |                       | 688     |                                            |
| rte of Reglstrntloo with PCAOB ){If applicable) |                       |         | )PCAOBReglstrntloo N,mb", If applicable) i |
|                                                 | FOR OFFICIAL USE ONLY |         |                                            |
|                                                 |                       |         |                                            |

• Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-S(e)(l)(ii), if applicable.

**Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid 0MB control number.** 

{2}------------------------------------------------

#### **OATH OR AFFIRMATION**

| I,     | Jun lsoda  |    |     |      |    |    |                                  |  |  |  | swear (or affirm) that, to the best of my knowledge and belief, the financial     |  |    |    |
|--------|------------|----|-----|------|----|----|----------------------------------|--|--|--|-----------------------------------------------------------------------------------|--|----|----|
| report | pertaining | to | the | firm | of |    | Siguler Guff Global Markets, LLC |  |  |  |                                                                                   |  | as | of |
| 12/31  |            |    |     |      |    | 2~ |                                  |  |  |  | is true and correct. I further swear (or affirm) that neither the company nor any |  |    |    |
|        |            |    |     |      |    |    |                                  |  |  |  |                                                                                   |  |    |    |

partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer.

![](_page_2_Picture_3.jpeg)

| ~      |  |
|--------|--|
| Title: |  |
| CFO    |  |

#### **This filing\*\* contains (check all applicable boxes):**

- (a) Statement of financial condition.
- **e** (b) Notes to consolidated statement of financial condition.
- □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X).
- □ (d) Statement of cash flows.
- □ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity.
- □ (f) Statement of changes in liabilities subordinated to claims of creditors.
- □ (g) Notes to consolidated financial statements.
- □ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable.
- □ (i) Computation of tangible net worth under 17 CFR 240.18a-2.
- D (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3.
- D (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable.
- □ (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3.
- □ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3.
- D (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable.
- (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist.
- □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition.
- **e** (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable.
- □ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- □ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- (t) Independent public accountant's report based on an examination of the statement of financial condition.
- □ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable.
- D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- D (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable.
- D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable.
- D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). D (z) Other: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ \_
- 
- \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable.

{3}------------------------------------------------

### SIGULER GUFF GLOBAL MARKETS, LLC (A Limited Liability Company)

### DECEMBER 31, 2023

### TABLE OF CONTENTS

Report of Independent Registered Public Accounting Firm

Page

| Statement of Financial Condition |     |
|----------------------------------|-----|
| Notes to Financial Statement     | 2-4 |

{4}------------------------------------------------

![](_page_4_Picture_0.jpeg)

# 67896:9;<=>787=>7=:67?<@:767>8ABC<DEDD9A=:<=?;<6F

GHIJKLKMNKOHP QRSTUKOVTPPVUHNWULWOXKIYZ[[\

# 9]^\_^`\_`\_abc;^\_d\_e^df@adacgc\_a

hKJWiKWTjRIKjIJKWkkHMlWmnRmSYIWIKMKmIHPPRmWmkRWUkHmjRIRHmHPQRSTUKOVTPPVUHNWU LWOXKIYZ[[\oIJKp\HMlWmnqrWYHPsKkKMNKOtuZvwvtZWmjIJKOKUWIKjmHIKYokHUUKkIRiKUn OKPKOOKjIHWYIJKpPRmWmkRWUYIWIKMKmIqrxymHTOHlRmRHmZIJKPRmWmkRWUYIWIKMKmIlOKYKmIYPWROUnZRm WUUMWIKORWUOKYlKkIYZIJKPRmWmkRWUlHYRIRHmHPIJK\HMlWmnWYHPsKkKMNKOtuZvwvtRmkHmPHOMRIn zRIJWkkHTmIRmSlORmkRlUKYSKmKOWUUnWkkKlIKjRmIJK{mRIKjQIWIKYHP|MKORkWx

# Bd}^}~`9]^\_^`\_

GJRYPRmWmkRWUYIWIKMKmIRYIJKOKYlHmYRNRURInHPIJK\HMlWmnYMWmWSKMKmIxTOOKYlHmYRNRURInRY IHKlOKYYWmHlRmRHmHmIJK\HMlWmnYPRmWmkRWUYIWIKMKmINWYKjHmHTOWTjRIxhKWOKWlTNURk WkkHTmIRmSPROMOKSRYIKOKjzRIJIJKTNURk\HMlWmn|kkHTmIRmSiKOYRSJIHWOjo{mRIKjQIWIKYr o\|rWmjWOKOKTROKjIHNKRmjKlKmjKmIzRIJOKYlKkIIHIJK\HMlWmnRmWkkHOjWmkKzRIJIJK {xQxPKjKOWUYKkTORIRKYUWzYWmjIJKWllURkWNUKOTUKYWmjOKSTUWIRHmYHPIJKQKkTORIRKYWmjkJWmSK \HMMRYYRHmWmjIJK\|x

hKkHmjTkIKjHTOWTjRIRmWkkHOjWmkKzRIJIJKYIWmjWOjYHPIJK\|xGJHYKYIWmjWOjYOKTROK IJWIzKlUWmWmjlKOPHOMIJKWTjRIIHHNIWRmOKWYHmWNUKWYYTOWmkKWNHTIzJKIJKOIJKPRmWmkRWU YIWIKMKmIRYPOKKHPMWIKORWUMRYYIWIKMKmIZzJKIJKOjTKIHKOOHOHOPOWTjxGJK\HMlWmnRYmHI OKTROKjIHJWiKZmHOzKOKzKKmSWSKjIHlKOPHOMZWmWTjRIHPRIYRmIKOmWUkHmIOHUHiKOPRmWmkRWU OKlHOIRmSx|YlWOIHPHTOWTjRIzKWOKOKTROKjIHHNIWRmWmTmjKOYIWmjRmSHPRmIKOmWUkHmIOHUHiKO PRmWmkRWUOKlHOIRmSNTImHIPHOIJKlTOlHYKHPKlOKYYRmSWmHlRmRHmHmIJKKPPKkIRiKmKYYHPIJK \HMlWmnYRmIKOmWUkHmIOHUHiKOPRmWmkRWUOKlHOIRmSx|kkHOjRmSUnZzKKlOKYYmHYTkJHlRmRHmx

TOWTjRIRmkUTjKjlKOPHOMRmSlOHkKjTOKYIHWYYKYYIJKORYXYHPMWIKORWUMRYYIWIKMKmIHPIJK PRmWmkRWUYIWIKMKmIZzJKIJKOjTKIHKOOHOHOPOWTjZWmjlKOPHOMRmSlOHkKjTOKYIJWIOKYlHmjIHIJHYK ORYXYxQTkJlOHkKjTOKYRmkUTjKjKWMRmRmSZHmWIKYINWYRYZKiRjKmkKOKSWOjRmSIJKWMHTmIYWmj jRYkUHYTOKYRmIJKPRmWmkRWUYIWIKMKmIxTOWTjRIWUYHRmkUTjKjKiWUTWIRmSIJKWkkHTmIRmSlORmkRlUKY TYKjWmjYRSmRPRkWmIKYIRMWIKYMWjKNnMWmWSKMKmIZWYzKUUWYKiWUTWIRmSIJKHiKOWUUlOKYKmIWIRHm HPIJKPRmWmkRWUYIWIKMKmIxhKNKURKiKIJWIHTOWTjRIlOHiRjKYWOKWYHmWNUKNWYRYPHOHTOHlRmRHmx

hKJWiKYKOiKjWYIJK\HMlWmnYWTjRIHOYRmkKvwutYTkJjWIKIWXKYRmIHWkkHTmIIJKWkTRYRIRHm HPHIKmNKOSLKORUQHUHMHmKOIRSKOVTIIRUUWZx\xZNnLWOkTM[[KPPKkIRiKKNOTWOnuZ vwvvrx

QWjjUKOHHXZ LWOkJvvZvwv

{5}------------------------------------------------

### SIGULER GUFF GLOBAL MARKETS, LLC (A Limited Liability Company) STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2023

#### ASSETS

| Cash and cash equivalents                            | ക | 114,469 |
|------------------------------------------------------|---|---------|
| Prepaid assets                                       |   | 46,939  |
| Total assets                                         | S | 161,408 |
| LIABILITIES AND MEMBER'S EQUITY                      |   |         |
| Liabilities<br>Accounts payable and accrued expenses | ക | 26,403  |
| Member's equity                                      |   | 135,005 |
| Total liabilities and member's equity                | S | 161,408 |

{6}------------------------------------------------

#### SIGULER GUFF GLOBAL MARKETS, LLC (A Limited Liability Company) NOTES TO THE FINANCIAL STATEMENT DECEMBER 31, 2023

#### 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Siguler Guff Global Markets, LLC (the "Company") is a registered broker-dealer under the Securities Exchange Act of 1934 and is a member of both the Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investors Protection ("SIPC"). The Company earns fees as a placement agent for securities offerings in private investment funds offered by affiliates of the Company. The Company is a wholly-owned subsidiary of Siguler Guff & Company, LP ("Siguler Guff"), a multi-strategy private equity investment firm. The Company was capitalized by Siguler Guff with a contribution of \$50,000 on November 21, 2012 and had limited operations prior to becoming a broker-dealer. Affiliated advisory entities, Siguler Guff Advisers, LLC ("SGA") and Russia Partners Management, LLC ("Russia Partners") manage and sponsor a number of U.S. and offshore private investment funds (the "Funds"). SGA, a registered investment adviser with the U.S. Securities and Exchange Commission, provides discretionary investment advisory services to private equity investors through pooled investment vehicles that invest the majority of their assets in privately placed, pooled investment vehicles managed by professional, third party managers and direct investment private equity investments. Russia Partners, a registered investment advisor with the U.S. Securities and Exchange Commission, provides investment advisory services to private equity investors. Russia Partners is in process of liquidating their remaining investments and has not deployed any new capital as well as had any new placements for the year ended December 31, 2023.

The sole business activity of the Company is to act as a placement agent in offerings of interests in the Funds managed by SGA. The Company offers the Funds to its institutional and high net worth investors. The Company does not solicit or sell directly to retail investors and does not hold or have custody of investor funds or securities. Registered persons of the Company communicate with investors by personal contact, telephone, email, letter and other marketing materials, including the offering documents of the Funds.

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

#### Basis of presentation

The financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. Further information over significant accounting policies are described in the following paragraphs.

#### Concentration of risk

The Company maintains cash in a bank account which is non-interest bearing and insured by the FDIC up to \$250,000. The Company has not experienced any losses in such account and does not believe it is exposed to any significant credit risk on cash.

{7}------------------------------------------------

#### 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

#### Income taxes

As a wholly-owned limited liability company, the Company is not subject to Federal, state or local income taxes. All items of income, expense, gains and losses are reportable by the member for tax purposes. The Company is considered to be a disregarded entity for income tax purposes and does not file income tax returns in any jurisdiction.

#### Uncertain tax positions

The Company follows the accounting guidance for uncertainty in income taxes pursuant to Financial Accounting Standards Board (FASB) ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by tax authorities.

The Company had no unrecognized tax benefits at December 31, 2020. No accrued interest and penalties associated with uncertain tax positions were recorded during the year ended December 31, 2023 or accrued for as of December 31, 2023.

Generally, federal, state and local authorities may examine the Company's member's tax returns for three years from the date of filing; consequently, the respective tax returns for the years prior to 2019 are no longer subject to examination by tax authorities.

#### 3. NET CAPITAL REQUIREMENTS

The Company is subject to the uniform net capital requirements of Rule 15c3-1 of the Securities and Exchange Act, as amended, which requires the Company to maintain, at all times, sufficient liquid assets to cover indebtedness. In accordance with the Rule, the Company is required to maintain defined minimum net capital of the greater of \$5,000 or 6 2/3% of aggregate indebtedness.

At December 31, 2023, the Company had net capital, as defined, of \$88,066, which exceeded the required minimum net capital of \$5,000 by \$83,066. Aggregate indebtedness at December 31, 2023 totaled \$26,403. The Company's percentage of aggregate indebtedness to net capital was 29.98%.

{8}------------------------------------------------

#### ()"\*- -

+,-.,/0112/32.1.4/-506/6-7787019514:56,;7-<,==>147?28@/0A5./;;23/17B7C@70.7. =2--701>328@70./1520>/0B6707-/;2@7-/15067C@70.7.@/5B=2-DA:56,;7-<,==EF47 ?28@/0A@/-1535@/17.50/G/-571A2==50/035/;/0B/B8505.1-/15G71-/0./31520.9514-7;/17B @/-157./0B8/AD7=50/035/;;AB7@70B70120.,34@/-157.EH73/,.72=147.7-7;/1520.45@.>51 5.@2..5D;714/114717-8.2=147.71-/0./31520./-7021147./87/.142.714/192,;B-7.,;1 =-281-/0./31520./8206942;;A,0-7;/17B@/-157.E

 :56,;7-<,==4/.32885117B12=,;;A=,0B147?28@/0A>029/0B50147=,1,-7>/0B12B7@2.51 /BB51520/;=,0B..42,;B51D732870737../-A=2-147?28@/0A12-78/50500713/@51/; 328@;5/037E

#### I)J K

 L/0/6787012=147?28@/0A4/.7G/;,/17B7G701./0B1-/0./31520.14/18/A4/G7 233,--7B.5037M7378D7-NO>PQPN14-2,64147B/17147=50/035/;.1/178701.97-75..,7BE L/0/678701B717-8507B14/1147-7/-7022147-8/17-5/;7G701.14/192,;B-7R,5-7 B5.3;2.,-7.50147?28@/0AS.=50/035/;.1/178701.E


Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.