Fees and Compensation — Form ADV Part 2A (5/4/2026)
[Brochure]
ITEM 5: FEES AND COMPENSATION
Item 5.A. Description of Compensation Arrangements
The fees paid by the Funds differ from those paid by Wealth Advisory Clients.
Funds
Management Fee
Everstar is entitled to receive a monthly management fee at an annual rate equal to 1% (EFRAN) or 2.0%
(ECAP, ESAF, EPIC, & ECRV) of the net asset value of the limited partnership interests of the Funds
which is calculated and paid in advance on the first business day of each calendar month. Everstar or the
General Partners of the Funds, as defined in Item 10.C Affiliate Relationships below, may waive or reduce
the Management Fee with respect to any Fund Limited Partner.
Account Minimums and Types of Clients — Form ADV Part 2A (5/4/2026)
[Brochure]
ITEM 7: TYPES OF CLIENTS
Everstar provides investment advice and management to the Funds, Wealth Advisory Clients and Financial
Planning Clients including high net worth individuals, family accounts, trusts, foundations, family offices
and certain institutional accounts.
Everstar intends to restrict the number of Investors in the Funds and will offer interests only through non-
public transactions in order to maintain their exclusion from “investment company” status under Section
3(c)1 of the Company Act.
Prospective Investors in the Funds must meet eligibility criteria and are subject to certain withdrawal
requirements and limitations. Prospective Investors are encouraged to thoroughly review the Funds’
Governing Documents, which set forth all of the terms in detail. Terms for Wealth Advisory Client are
generally similar to the Funds, can be negotiated on a case-by-case basis and may differ from those of the
Funds.
There is no minimum account size for Wealth Advisory Clients and no minimum investment commitment
for Limited Partners.
Filed 2026-03-20 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $1 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
Filed 2025-12-03 (D) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
Filed 2025-10-07 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $1 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
Filed 2025-07-31 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $1 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
Filed 2025-07-31 (D/A) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $1 · Remaining Indefinite · Duration More than one year · Net Assets Decline to Disclose
AUM Breakdown
Accounts
AUM ($M)
By Client Type
(a) Individuals (other than high net worth individuals)
764
77.5
(b) Individuals (high net worth individuals)
352
141.6
(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
5
111.7
(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