GRAHAM ALTERNATIVE INVESTMENT FUND II LLC 8-K

What Happened Graham Alternative Investment Fund II LLC filed an 8-K (dated Jan 26, 2026) announcing an internal management change effective January 20, 2026. Pablo Calderini ended his roles as Vice Chairman and Co‑Chief Investment Officer of the Manager (Graham Capital Management, L.P.) as he transitions to a portfolio manager role. Jens Foehrenbach will assume the title of Chief Investment Officer of Graham while retaining his title as President.

Key Details

• Effective date: January 20, 2026; filing date: January 26, 2026.
• Role changes: Pablo Calderini → portfolio manager under a new employment agreement with the Manager; Jens Foehrenbach → Chief Investment Officer and remains President.
• Employment terms: Mr. Foehrenbach continues under his current Manager employment agreement (base salary, annual bonus eligibility, standard employee benefits).
• Restrictions: Mr. Foehrenbach is subject to confidentiality, non‑solicitation and non‑competition obligations during and after employment. Neither executive has an employment agreement with the Company itself.

Why It Matters This 8-K reports a leadership shift in the Manager that runs the fund’s investment operations—an operational change investors should note for continuity of portfolio management. The filing clarifies that the changes are internal to the Manager (not the Company) and outlines compensation/contractual terms that govern the new CIO and Calderini’s portfolio manager role, including post‑employment restrictions that affect the Manager’s personnel stability.