Fees and Compensation — Form ADV Part 2A (3/26/2024)
[Brochure]
Item 5. Fees and Compensation
As compensation for investment supervisory services rendered to the Fund, the Adviser is paid
an annual management fee (“Management Fee”) from the Fund. The Management Fee is a
fixed amount and paid quarterly in advance during the Investment Period and wi ll be paid
annually in advance thereafter. The Management Fee is in an amount to cover the Fund’s and
Adviser’s annual operating expenses. The management fee does not reduce the investor’s
unfunded capital balance. Prior to the payment for the management fee, a capital call notice is
sent to the investor, requesting the management fee to be paid.
To the extent provided in the Operating Agreement, the Adviser shall be paid or reimbursed
for operating expenses, including, but not limited to, compensation expense related to its
investment personnel and other personnel for non‐Fund‐related and non‐transaction‐ related
services, rent, utilities, office expenses and non‐transaction‐related travel expenses, legal,
accounting, auditing, insurance and other professional services and other routine
administrative expenses relating to the services and facilities provided by the Adviser to the
Fund.
Account Minimums and Types of Clients — Form ADV Part 2A (3/26/2024)
[Brochure]
Item 7. Types of Clients
The Adviser currently provides investment supervisory services to the Fund. Interests in the Fund
are offered pursuant to applicable exemptions from registration under the Securities Act and the
1940 Act. Investors in the Fund are “accredited investors” as defined in the Securities Act
and “qualified purchasers” or “knowledgeable employees” as defined in the 1940 Act .
The Fund currently has one large outside, unaffiliated investor in the Fund, representing the vast
majority of the Fund’s assets, and a select number of ‘knowledgeable employees’ accounting for
the remainder of the assets. The Adviser does not plan to offer interests in the Fund to any other
outside investors.