|
⚲
|
| Keyboard |
| Glean Management LP
✚
|
|
|---|---|
| CRD # | 301898 |
| SEC # | 801-116736 |
| CIK # | |
| AUM | |
| Employees | 4 (75% Investors, 0% Brokers) |
| Fees | |
| Minimum | |
| Phone | 323-745-5009 |
| Address | 8285 W Sunset Blvd Suite 7A West Hollywood, CA 90046 |
| Source | [IAPD] [Website] [LinkedIn] |
| Total AUM ($M) |
|---|
| Fees and Compensation — Form ADV Part 2A (3/30/2023) [Brochure] |
|---|
Item 5: Fees and Compensation Glean (and their respective affiliates that serve as the general partners of the Funds) each generally charges the Fund it manages an asset-based management fee and/or carried interest distributions. Glean Capital Partners and Glean Capital Partners III generally only charge the Funds they manage carried interest distributions. Glean deducts its management fees (“Management Fee”) generally from certain Funds quarterly in advance in such amounts as are set forth in the Governing Documents of each applicable Fund. Glean Capital Partners and Glean Capital Partners III generally do not receive Management Fees from the Funds it manages. Separate affiliates of Glean (each a “General Partner”), each of which is organized as a Delaware limited liability company and serves as the general partner to a Fund, are entitled to receive performance-based carried interest distributions (“Carried Interest Distributions”) in respect of such Fund. Glean Capital Partners and Glean DB1/ 103621527.4 4 Capital Partners III are also entitled to receive performance-based carried interest distributions from each Fund it manages. Generally, these Carried Interest Distributions represent a share of distributions made by an investor in a Fund in excess of the relevant investor’s invested capital, and allocable fees and expenses. Carried Interest Distributions may be applied each time an investment is realized and distributed (or more frequent) basis with respect to the Funds. Carried Interest Distributions are subject to regulation under Section 205 of the Advisers Act and Rule 205-3 thereunder. Therefore, Glean seeks to ensure that any Fund or investors in a Fund that are directly or indirectly subject to Carried Interest Distributions satisfy the qualifications of Rule 205-3 under the Advisers Act and have been advised of such distributions and their risks. For any Fund, Carried Interest Distributions generally range from between 25-30% of profits, and are generally subject to clawback provisions; provided, however, that because the Funds managed by Glean Capital Partners and Glean Capital Partners III are generally special purpose vehicles, such Funds’ Governing Documents do not typically include clawback provisions. The manner of calculation and application of Carried Interest Distributions are disclosed in the offering documents for, and detailed in the Governing Documents of, each applicable Fund. For more information please see Item 6. Glean may, in its discretion, waive, reduce or rebate the Management Fee and/or Carried Interest Distributions with respect to the investment of any investor, including its employees, owners, affiliates and/or one or more investors. Any fees (net of any related expenses) received by a Fund, Glean Management, the General Partner or any of their respective affiliates from Portfolio Investments or prospective investments in consideration for Fund capital, Fund commitments, due diligence and other services relating to usage of a Fund’s capital, including commitment fees, closing fees, transaction fees, finders fees and net break-up fees, if any, from broken deals (collectively, “Transaction Fees”), shall be treated as income of the Fund and will be allocated among the investors in such Fund pursuant to the applicable Governing Documents. In addition to the Management Fee, Transaction Fees (in each case, if applicable) and Carried Interest Distributions and as set forth in more detail in the applicable Governing Documents, each Fund will pay all expenses attributable to the operation of such Fund and its investments and the performance by Glean, the General Partner and their affiliates and their respective obligations to such Fund. Expenses are generally shared by all of the investors in the Funds, while expenses related to one or more particular series or classes of investments will be allocated accordingly. In Each Portfolio Investment in which a Fund invests may have its own operational, administrative, management, including custodial, compliance, trustee, record keeping (including preparation of financial statements, and the costs and expenses of preparing and circulating reports and any fees or imposts of a governmental authority imposed in connection therewith, investment, brokerage (as applicable) and other fees and expenses, in addition to performance based compensation, if any, which are charged against such Fund’s assets. Expenses of more than one Fund will be allocated on an equitable basis among such Funds based on the aggregate capital commitments of each applicable Fund. DB1/ 103621527.4 5 Notwithstanding the foregoing, Glean may elect to bear some or all of the above expenses of the Funds which it manages. Glean and its supervised persons do not accept any compensation (e.g., brokerage commissions) for the sale of securities or other investment products, including interests in the Funds. For more information regarding Glean’s brokerage practices and brokerage expenses discussed herein, please see Item 12. |
| Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2023) [Brochure] |
|---|
Item 7: Types of Clients Each Glean Entity expects to provide investment advisory services to one or more Funds. Investors in the Funds may include, but are not limited to, high net worth qualified individuals, family offices, endowments, foundations, trusts, charitable organizations, pension plans, and corporate or business entities. Details concerning applicable investor suitability criteria are set forth in the respective Client’s Governing Documents. The minimum commitment for an investor is outlined in the applicable Client’s Governing Documents, including the discretion of Glean and its affiliates to accept less than the minimum commitment threshold. Each investor is required to meet certain suitability qualifications as more fully set forth in the applicable Governing Documents. Each investor in a Fund is required to meet certain suitability qualifications, such as being (i) an “accredited DB1/ 103621527.4 6 investor” as defined under Rule 501(a) of Regulation D of the Securities Act of 1933, as amended, and (ii) a “qualified client”, as defined in Rule 205-3 under the Advisers Act. |
| Type | Form D Funds | Date | Sold | AUM |
|---|---|---|---|---|
| PE | Glean Tech II LLC - Series Neonatal Care | [2024-05-09] | 4.1 M | 2.5 M |
| Offered $4,086,885 · Filed 2019-11-05 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series C-GB | [2022-04-28] | 1.6 M | |
| Offered $1,561,087 · Filed 2021-04-06 (D) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech Fund III LP | [2022-03-31] | 153.8 M | 231.6 M |
| Offered $250,000,000 · Filed 2021-08-02 (D) · Exemption 506(b), 3(c), 3(c)(1) · Minimum $1 · Remaining $96,200,000 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series A-KN | [2022-03-31] | 2.0 M | 0.2 M |
| Offered $2,006,000 · Filed 2021-08-31 (D) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series A-OU | [2022-03-31] | 9.6 M | 1.0 M |
| Offered $9,615,911 · Filed 2021-05-04 (D) · Exemption 3(c), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series B-OU | [2022-03-31] | 12.5 M | 1.3 M |
| Offered $12,450,909 · Filed 2021-06-08 (D) · Exemption 3(c), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series A-ND | [2021-03-31] | 10.0 M | 9.8 M |
| Offered $10,031,650 · Filed 2020-12-16 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series A-RT | [2021-03-31] | 3.7 M | 3.1 M |
| Offered $3,748,238 · Filed 2020-03-12 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series A-TT | [2021-03-31] | 10.0 M | 8.6 M |
| Offered $10,000,000 · Filed 2021-01-05 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| PE | Glean Tech II LLC - Series B-GB | [2021-03-31] | 7.6 M | 8.6 M |
| Offered $7,579,119 · Filed 2019-11-05 (D) · Exemption 506(b), 3(c), 3(c)(1), 3(c)(7) · Minimum $1 · Duration One year or less · Revenue Decline to Disclose | ||||
| View All | ||||
| AUM Breakdown | Accounts | AUM ($M) |
|---|---|---|
| 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 | 8 | 293.4 |
| (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 | 0 | 0.0 |
| (n) Other | 0 | 0.0 |
| Total | 8 | 293.4 |
| By Discretionary | ||
| Discretionary | 8 | 293.4 |
| Non-Discretionary | 0 | 0.0 |
| Total | 8 | 293.4 |
| By Non-United States Persons | ||
| Non-United States Persons | 0.0 | |
| United States Persons | 293.4 | |
| Total | 8 | 293.4 |
| Form D Directors | Role | # Filings | # Firms | 2011 - 2026 |
|---|---|---|---|---|
| Levi Nagel | Executive Officer | 23 | 4 | |
| Glean Capital | Executive Officer | 7 | 3 | |
| Eliyahu Federman | Executive Officer | 9 | 2 | |
| Glean Capital Partners LLC | Executive Officer | 9 | 2 | |
| Benyamin Federman | Executive Officer | 9 | 2 | |
| Capital LLC Glean | Executive Officer | 3 | 1 | |
| Glean Capital Partners | Executive Officer | 1 | 1 | |
| Management LP Glean | Executive Officer | 1 | 1 | |
| Partners LLC Glean Capital | Executive Officer | 1 | 1 | |
| Glean Capital Partners III | Executive Officer | 1 | 1 |
| Firm Profile (Form ADV) | |
|---|---|
| Serves | Institutional |
| Fund Types | Private Equity |