Fees and Compensation — Form ADV Part 2A (8/19/2015)
[Brochure]
Item 5. Fees and Compensation
A. The Offering Documents disclose the fee structure for each Fund. Accion may be entitled to receive
a “carried interest” distribution as specified in each Funds Offering Documents or investment
management agreement (“Carried Interest Distribution”). The Carried Interest Distribution is
calculated based on a percentage of profits generated from the Fund over a given period of time.
Accion, as outlined in the Offering Documents, will not charge a management fee.
Additionally, it is expected that the Investment Manager will charge a management fee and
performance-based fees to the Funds. Investors should consult each Fund’s Offering Documents
for a complete description of these fees.
B. Accion generally expects to deduct the Carried Interest Distribution from the Funds accounts upon
the exit of an investment.
C. In addition to the Carried Interest Distribution, each Fund will be responsible for certain of its
operating expenses as disclosed in the Offering Documents. These expenses include but are not
limited to: (i) all management and performance-based fees charged by the Investment Manager; (ii)
organizational expenses of the Fund (including the out-of-pocked expenses of the Firm and the
Investment Manager incurred in connection with the formation of the Fund, up to certain amounts
as detailed in the Offering Documents); (iii) all ongoing accounting, auditing, legal, custodial,
administrative, reporting and tax return preparation fees and expenses (including reimbursable
expenses of members of the LP advisory committee); (iv) costs of insurance and other expenses
associated with the evaluation, making, holding and disposition of actual or prospective portfolio
investments (including broken deal costs and certain travel costs); and (v) all extraordinary
expenses of the Fund (such as any indemnity or litigation expense).
The Funds will incur brokerage costs if applicable; however, due to the nature of the Funds’
strategy, broker-dealers are not generally used. See Item 12 – Brokerage Practices.
At Accion’s discretion, and with the consent of the Investment Manager, operating expenses may
be paid either out of amounts otherwise available for distribution to investors or by drawdowns of
the investors’ unfunded commitments. Please refer to the relevant Fund’s Offering Documents for
a complete understanding of each Fund’s fees and expenses. The information contained herein is a
summary only and is qualified in its entirety by the relevant Fund’s Offering Documents.
D. The Funds may not pay fees in advance (see Item 1.B above).
E. Neither Accion nor any of Accion’s supervised persons will accept compensation for the sale of
securities or other investment products.
Account Minimums and Types of Clients — Form ADV Part 2A (8/19/2015)
[Brochure]
Item 7. Types of Clients
As noted in Item 4, Accion expects to act in the capacity of general partner to pooled investment
vehicles which generally operate as exempt investment companies under the Investment Company
Act of 1940, as amended. The minimum investment in the Funds is typically $5,000,000 for
institutional investors and $1,000,000 for individual investors, although Accion or the Investment
Manager maintains discretion to individually waive, increase or reduce the minimum investment
required.
AUM Breakdown
Accounts
AUM ($)
By Client Type
(a) Individuals (other than high net worth individuals)
0
0.0
(b) Individuals (high net worth individuals)
0
0.0
(c) Banking or thrift institutions
0
0.0
(d) Investment companies
0
0.0
(e) Business development companies
0
0.0
(f) Pooled investment vehicles
0
0.0
(g) Pension and profit sharing plans
0
0.0
(h) Charitable organizations
0
0.0
(i) State or municipal government entities
0
0.0
(j) Other investment advisers
0
0.0
(k) Insurance companies
0
0.0
(l) Sovereign wealth funds and foreign official institutions
0
0.0
(m) Corporations or other businesses not listed above