# COURAGE CAPITAL MANAGEMENT, LLC

COURAGE CAPITAL MANAGEMENT, LLC of NASHVILLE, TN is an SEC-registered investment adviser.

## Registration

- CRD: 130449
- Type: SEC-registered investment adviser
- SEC file number: 801-63190
- Location: 4400 HARDING ROAD, SUITE 503, NASHVILLE, TN, 37205
- Phone: 615-369-0110
- Latest filing: 2026-03-30
- Regulatory AUM: $1.4B
- Discretionary AUM: $1.4B
- Clients: 23
- Accounts: 11

## Business model

- Compensation: % of AUM, Performance
- Clients served: Investment cos, Other

## Officers, owners & control persons (14)

| Name | Role | Location |
| --- | --- | --- |
| [Richard Anthony Schnuerer](https://search.stillhousedata.com/person/11778) | CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER | Nashville, TN |
| [Richard Connell Patton](https://search.stillhousedata.com/person/679664) | CHIEF MANAGER, MEMBER & BOARD MEMBER | — |
| [Thomas Gordon Milne](https://search.stillhousedata.com/person/679665) | PRESIDENT, CHIEF OPERATING OFFICER & BOARD MEMBER | — |
| [PATTON RICHARD CONNELL](https://search.stillhousedata.com/person/750972) | CHIEF MANAGER, MEMBER; CHIEF MANAGER, MEMBER & BOARD MEMBER; CHIEF MANAGER, MEMBER & SOLE DIRECTOR (+1 more) | — |
| [FARRIS DONALD MCKENZIE](https://search.stillhousedata.com/person/750973) | MANAGING DIRECTOR, MEMBER | — |
| [HORTON RICHARD REEDER](https://search.stillhousedata.com/person/750974) | CHIEF FINANCIAL OFFICER; CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER | — |
| [HINKLE LAURIE FORD](https://search.stillhousedata.com/person/750975) | CHIEF COMPLIANCE OFFICER | — |
| [SKARDA MICHAEL W](https://search.stillhousedata.com/person/750976) | GENERAL COUNSEL; GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER; GENERAL COUNSEL/CHIEF ADMINISTRATIVE OFFICER | — |
| [GARRISON FRANK MCMURRY](https://search.stillhousedata.com/person/750977) | PRESIDENT; PRESIDENT/CHIEF OPERATING OFFICER | — |
| [RIGGAN JOHN P](https://search.stillhousedata.com/person/750978) | MANAGING DIRECTOR, MEMBER | — |
| [MERCER PAUL W](https://search.stillhousedata.com/person/761137) | GENERAL COUNSEL AND CHIEF ADMINISTRATIVE OFFICER; GENERAL COUNSEL, CHIEF ADMINISTRATIVE OFFICER; GENERAL COUNSEL, CHIEF ADMINISTRATIVE OFFICER AND CHIEF COMPLIANCE OFFICER | — |
| [MILNE THOMAS GORDON](https://search.stillhousedata.com/person/785756) | PRESIDENT & CHIEF OPERATING OFFICER; PRESIDENT, CHIEF OPERATING OFFICER & BOARD MEMBER; PRESIDENT & CHIEF RISK OFFICER | — |
| [SCHNUERER RICHARD ANTHONY](https://search.stillhousedata.com/person/859837) | CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER | — |
| [BOURGEOIS MARK ALAN](https://search.stillhousedata.com/person/866546) | SENIOR MANAGING DIRECTOR AND VICE CHAIRMAN OF THE BOARD | — |


## Private funds (7)

Mix: Private Equity Fund 6 · Hedge Fund 1

| Fund | Type | Formed | Owners | GAV | Min investment |
| --- | --- | --- | --- | --- | --- |
| COURAGE MUSIC PARTNERS III, L.P. | Private Equity Fund | Delaware | 146 | $515.5M | $1.0M |
| COURAGE MUSIC PARTNERS II, L.P. | Private Equity Fund | Delaware | 141 | $476.4M | $2.0M |
| COURAGE MUSIC ROYALTY FUND, L.P. | Private Equity Fund | Delaware | 155 | $154.6M | $1.0M |
| COURAGE SPECIAL SITUATIONS MASTER FUND, L.P. | Hedge Fund | Cayman Islands | 11 | $134.1M | $2.0M |
| COURAGE CREDIT OPPORTUNITIES FUND IV, L.P. | Private Equity Fund | Delaware | 37 | $96.7M | $1.0M |
| COURAGE HEALTHCARE SBIC FUND I, LP | Private Equity Fund | Delaware | 8 | $34.2M | $500K |
| COURAGE NATURAL RESOURCES FUND I, LP | Private Equity Fund | Delaware | 32 | $16.9M | $1.0M |


## Branch offices (4)

| City | State | Employees | Phone |
| --- | --- | --- | --- |
| NASHVILLE | TN | 6 | (615) 369-0110 |
| NASHVILLE | TN | 6 | (615) 369-0110 |
| BALTIMORE | MD | 2 | (615) 369-0110 |
| BALTIMORE | MD | 2 | (615) 369-0110 |


## Fund service providers (3)

- administrator: SS&C TECHNOLOGIES, INC. — 6 funds
- administrator: SS&C FUND SERVICES (CAYMAN) LTD. — 3 funds
- administrator: CSC FUND SERVICES NORTH AMERICA LLC

## Related pages

- Form ADV Part 2 brochure: https://search.stillhousedata.com/firm/130449/brochure
- Similar advisers: https://search.stillhousedata.com/firm/130449/similar
- Related entities: https://search.stillhousedata.com/firm/130449/related
- SEC IAPD (source of record): https://adviserinfo.sec.gov/firm/summary/130449

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Source: public SEC Form ADV data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.