AACP Investments LLC

Item 5. Fees and Compensation

Funds

Fees may vary and potential investors should refer to the respective Private Placement Memorandum and/or
Fund documents for accurate information. The information provided in this brochure regarding fees and
expenses is not intended to be complete or final and is qualified in its entirety by the respective LPAs for
the Funds. Limited Partners and potential investors should read and review the governing documents of the
respective Fund to fully understand the types of fees and expenses that are paid for by the Fund.

For both Access Funds and Managed Funds, AACP Investments charges a management fee and may charge
an incentive fee in accordance with the respective Funds’ Limited Partnership Agreements (“LPAs”).

Access Funds and Managed Funds include a management fee, which generally ranges from 0.75% - 2.25%
on an annual basis, and in most cases, an incentive compensation arrangement, which generally ranges from
10% - 20% of the capital appreciation in the underlying Portfolio Fund. In general, the management fee
payable in any quarterly period will be reduced by the sum of any transaction, management, servicing,
investment banking, monitoring, closing, topping, break-up or other similar fees received by AACP
Investments, the general partner of the applicable fund, or their affiliates (net of unrecouped partnership
expenses that the general partner has elected to pay on behalf of the applicable Fund). The management
fees will also be reduced in an amount equal to the sum of all fees and expenses paid or reimbursed by the
applicable Fund to placement agents in connection with the offering and sale of Limited Partnership
interests in such Fund during the immediately preceding calendar quarter.

The general partners or their affiliates are also entitled to receive carried interest or similar profit
distributions (“Carried Interest”) from the Funds. Carried Interest is a performance-based profit allocation
based on a share of the income and gains of the assets in each Fund. Such Carried Interest allocations are
typically a certain percentage of distributions after investors have received a return of their capital
contributions plus a preferred return. Carried Interest is not calculated on the basis of unrealized gains and
losses, if any. Carried Interest may vary between different funds and potential investors should consult the
respective fund documents to find more detailed information regarding Carried Interest.

AACP Investments offers multiple share classes with different fee structures. AACP Investments also
reserves the right to negotiate different fee arrangement and provide fee breaks to certain Limited Partners
by separate agreement and to reduce or waive any fees at any time. AACP Investments intends to waive or
reduce the fee for its own capital and that of its constituent partners, affiliates, and employees, and family
members of the foregoing.

        Expenses

In addition to the fees noted above, the Limited Partners will also indirectly bear certain expenses charged
to the Funds. The Funds will bear certain costs in connection with their organization, as more particularly
described in the LPA of each Fund. The Funds will generally bear their own operating costs. To the extent
not paid or reimbursed by an entity in which each respective Fund invests, each respective Fund will be
responsible for all expenses attributable to the Fund’s activities, including but not limited to: (i)
organizational expenses, including any excess organizational costs paid by the Funds, (ii) the Management

FORM ADV PART 2A                            AACP INVESTMENTS, LLC                                    MARCH 2026

Fees, (iii) placement fees, (iv) all costs and out-of-pocket fees, expenses, obligations and liabilities relating
to or attributable to sourcing, investigating, identifying, analyzing, evaluating, researching, diligencing,
pursuing, committing to, bidding on, seeking regulatory approvals of, structuring (including any tax or other
structuring and planning if incurred in connection with the formation and organization of the Fund),
developing, negotiating, acquiring, purchasing, investing, syndication, holding, hedging, monitoring,
managing (including any special services fee in respect of portfolio investments (but not in excess of a
Special Services Fee Cap)), restructuring, refinancing, seeking disposition opportunities for and disposing
of, the Funds’ investments (and prospective investments), whether or not consummated and whether or not
incurred, before, during or after the holding of any such investment, including, without limitation,
organizing and operating investment, holding, bidding, acquisition, aggregation or other intermediate
entities formed to facilitate investments by the Funds, commitment fees or other lenders’ fees that become
payable in connection with a proposed portfolio investment, fees and expenses related to negotiating and
complying with non-disclosure and confidentiality agreements, travel costs and ancillary expenses
(including, without limitation, airfare at no greater than business class rates, ground transportation, lodging
and accommodations, meals and travel agency fees and reasonable and business-related entertainment
expenses), third-party consulting and deal investigation, sourcing and identification fees and expenses,
broker, finder, investment banking, legal and accounting and other similar fees and expenses, costs and
expenses of any representation and warranty insurance and/or other similar insurance, and printing
expenses, (v) all Broken Deal Expenses, but only to the extent that such fees and expenses exceed topping
and break-up fees applied against such expenses, (vi) all legal, accounting, auditing, administrative,
custodian, appraisal, valuation (including all costs, fees and expenses associated with third-party valuations,
...

Item 7. Types of Clients

As previously described, AACP Investments provides investment advice to private investment funds. The
Firm also advises a Luxemburg registered fund. The Firm may also choose to advise separately managed
accounts, but has not entered into any such arrangements to date.

A Limited Partner in the Funds must be a “qualified purchaser” within the meaning of the Investment
Company Act of 1940 and an “accredited investor” within the meaning of Regulation D of the Securities
Act of 1933. The Funds impose minimum investment limits upon investors that can be waived in certain
circumstances, as set forth in the respective Funds Documents.

Investors in the Funds may include high net worth individuals and estate planning vehicles as well as a
variety of institutional investors (e.g., employee benefit plans, endowments, foundations, corporations and
other types of entities and other corporations or businesses) meeting the terms of the exceptions and
exemptions under which the Funds operate and wishing to invest in accordance with a particular Fund’s
investment objective.

FORM ADV PART 2A                            AACP INVESTMENTS, LLC                                   MARCH 2026