Inherent Group LP

Item 5                    Fees and Compensation

                Management Fees and Incentive-Based Compensation

                     Inherent receives management fees and incentive-based compensation from the Funds’
                     assets contributed by outside (i.e., third-party) investors. Management fees and
                     incentive-based compensation are calculated by a third-party administrator.
                     Management fees are deducted from investors’ sub-accounts in the Master Funds and
                     paid to Inherent. Incentive-based compensation is allocated from investors’ capital
                     accounts in the ESG Opportunity Onshore Feeder, the ESG Opportunity Offshore
                     Feeder, the Credit Opportunities Onshore Feeder, and the Credit Opportunities Offshore

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                     Feeder. The manner in which management fees and incentive-based compensation are
                     charged by Inherent, including information about any associated limitations on
                     withdrawals or redemptions of investors’ capital or shares (as applicable), is more fully
                     described in each Feeder Fund’s offering memorandum.

                     Inherent does not receive management fees from CIO1 and Inherent Aspiration.

                     Inherent received an up-front fee from Inherent Aspiration in accordance with such
                     entity’s LLC agreement. Inherent receives incentive-based compensation from investors
                     unaffiliated with Inherent who have invested in CIO1 in accordance with such entity’s
                     LLC agreement.

                Other Fees and Expenses

                     The payment of expenses (a) by the Funds will reduce the value of each investor’s
                     investment in a Feeder Fund and (b) by the Other Advised Funds will reduce the value
                     of each investor’s investment in the Other Advised Funds.

                     Detailed information regarding the expenses to which each Feeder Fund is subject is
                     included in each such Fund’s offering memorandum. Similarly, for the Other Advised
                     Funds, such disclosures appear in their respective LLC Agreements.

                     Generally, each Feeder Fund bears its own expenses and its pro rata share of the
                     expenses of any Master Fund or intermediate Feeder Fund. The Master Funds are
                     responsible for paying all other expenses attributable to the Master Funds and the
                     Feeder Funds, including the following; in addition, the Other Advised Funds are subject
                     to similar such expenses:

                          •   organizational and offering expenses, other than placement fees (if any) and
                              including expenses attributable to compliance with the Alternative Investment
                              Fund Managers Directive (“AIFMD”) and other private placement, lobbying law
                              and distribution rules in the U.S. and other foreign jurisdictions and compliance
                              with anti-money laundering laws and know-your-customer requirements;

                          •   expenses incurred by the Master Funds or any Feeder Fund, or by Inherent or
                              its affiliates, in connection with the investments of the Master Funds, including:

                                  o   brokerage commissions;

                                  o   transaction costs;

                                  o   ticket charges;

                                  o   expenses related to short sales;

                                  o   clearing and settlement charges;

                                  o   custodial fees;

                                  o   interest expenses and other financing charges (including initial and
                                      variation margin);

                                  o   broken deal expenses;

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                                  o   consulting, investment banking and other professional fees relating to
                                      particular investments or contemplated investments;

                                  o   expenses related to the formation and operation of the Master Funds,
                                      the Feeder Funds and any vehicle through which the Master Funds
                                      may hold investments, including any expenses that may otherwise
                                      qualify as eligible brokerage expenses under Section 28(e) of the U.S.
                                      Securities Exchange Act of 1934, as amended (the “Securities
                                      Exchange Act”);

                                  o   research-related expenses (including fees for news and quotation
                                      equipment and connectivity costs and services and market data
                                      services and other fees paid to third-party providers of research
                                      products and services including those that would otherwise constitute
                                      eligible research under Section 28(e) described in the section entitled
                                      “Brokerage Practices - Research and Other Soft Dollar Benefits” in
                                      Item 12 below, and software for managing and monitoring research
                                      and trading);

                                  o   fees for portfolio risk management services (including the costs of risk
                                      management software or database packages and related connectivity
                                      costs);
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Item 7              Types of Clients

                     Inherent provides discretionary investment advice to private funds. The Feeder Funds
                     are available for investment only by investors who satisfy certain suitability standards.
                     An investor in any of the ESG Opportunity Feeder Funds or the Credit Opportunities
                     Feeder Funds is generally required make an initial subscription of at least $5,000,000,
                     subject to exceptions in the sole discretion of the general partner or board of directors to
                     the Feeder Funds.