Fees and Compensation — Form ADV Part 2A (3/28/2022)
[Brochure]
Item 5. Fees and Compensation
The Client is required to pay a quarterly management fee (the “Management Fee”).
In addition, Liberty receives an incentive fee (the “Incentive Fee”) from the Client’s share
of return on investment attributable to the investments in the portfolio companies. Liberty deducts
the Incentive Fee, in accordance with the terms of the Advisory Agreement, from amounts received
by the Client upon the consummation of a capital event (such as the sale of a portfolio company).
Account Minimums and Types of Clients — Form ADV Part 2A (3/28/2022)
[Brochure]
Item 7. Types of Clients
Liberty provides investment advisory services to its sole client, a state governmental entity
responsible for administering the state’s retirement system trust fund. Liberty does not offer
advisory services to the general public.
057223.00100/102025491v.2
LIBERTY PARTNERS, L.P. PART 2A OF FORM ADV: FIRM BROCHURE
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
0
0.0
(g) Pension and profit sharing plans
0
0.0
(h) Charitable organizations
0
0.0
(i) State or municipal government entities
1
3.0
(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