New Republic Capital LLC

Item 5: Fees and Compensation

SUMMARY OF FEE SCHEDULE
While the specific fees and expenses applicable to each client are disclosed and described in detail in the applicable offering,
account and/or governing documents of such clients, a brief overview of our general fee schedule is set forth below.
Funds
Management fees differ or vary depending upon the class of interests acquired by investors:
              •   Class A Interests (Advisory Account Clients): Except as otherwise set forth in the applicable
                  governing documents, no management fee generally is charged to Class A Interests at the Fund level.
                  Upon termination of an investment advisory agreement, an Advisory Account client may become
                  subject to management fees at the Fund level.
              •   Class B Interests (Non-Advisory Account Clients): We are entitled to receive a management fee,
                  payable quarterly in advance ranging from 0.10% (0.4% per annum) to 0.375% (1.5% per
                  annum) of the net asset value of a Class B investor’s capital account, the aggregate capital
                  commitment of that investor or the total invested capital of that investor (as applicable).
Our philosophy is that performance fees generally are charged at the investment level only; there is not a separate fee
charged at the Fund level. Consistent with this philosophy, we or our affiliate may be entitled to receive carried interest
from certain direct investment or co-investments (with respect to direct investments and co- investments only when no
separate fee is charged by an Underlying Manager) where we or our affiliate act as an Underlying Manager,
which may be borne by the Funds in connection with their investments therein.
Our fees are negotiable. The general partner of a Fund may enter into side letters or similar arrangements that reduce
or eliminate fees or carried interest amounts in certain circumstances (including with respect to certain investments
made by the Funds) in accordance with the terms set forth in the applicable offering and governing documents
of each Fund.
Advisory Accounts
In general, our advisory fees are 0.70% per annum of the asset value of each Advisory Account, although depending
on the total assets under management may be as high as 1.25% per annum. Fee structures may also be grandfathered in
according to previous arrangements with onboarded advisors. Fees are negotiable. We may agree to reduce, waive, or change
fees with respect to all or part of an Advisory Account or enter into different fee arrangements with respect to certain
clients (including employees). Fees generally are payable quarterly in arrears based upon the average daily asset value of
the Advisory Account during the preceding calendar quarter. The fees payable with respect to each client generally are
based upon various relevant factors including, without limitation, the size of an Advisory Account and the type and
number of services provided to an Advisory Account (or based on a client’s prior agreement with us).
We also charge fixed fees for cash management, estate planning, financial planning, philanthropy, charitable giving,
and other services to advisory account clients.
Subject to the terms and conditions set forth in the applicable advisory agreement of each Advisory Account, investors
generally are subject to carried interest with respect to certain co-investments and direct investments to the extent such fees
are not charged by an Underlying Manager, in which case such fees are paid to NRC for acting as the
Underlying Manager. See Item 6, Item 10 and Item 11 below.
DEDUCTION OF MANAGEMENT, ADVISORY AND OTHER FEES
Funds
With respect to each applicable investor, management fees may be charged (as applicable based upon the terms of the
Fund) by deducting such fees directly from that investor’s capital account, with capital contributions called from that

investor or by reducing distributions which would otherwise be made to that investor. In the event of a withdrawal by
an investor other than as of the last calendar day of a calendar quarter, a pro rata portion of the management fee, based
upon the actual number of days remaining in such quarter as of the date of withdrawal, are refunded by us to the
applicable Fund for credit to such investor’s capital account.
Advisory Accounts
Advisory Account clients generally direct us to deduct (or otherwise instruct the applicable custodians of their accounts
to deduct or pay) our fees directly from their custodial accounts. In certain cases, Advisory Account clients may be billed on a
periodic basis for applicable fees and responsible for paying such fees directly to us by the applicable due date. Clients are
generally billed on a quarterly or other periodic basis.
Our advisory and other agreements with clients typically do not have set expiration or termination dates. Such agreements
may be terminated by us or the clients at any time upon at least sixty (60) days’ advance written notice, or as set forth
in the applicable agreements with each client. Fees may be prorated (i) with respect to withdrawals, on any date other
than as of the end of a calendar quarter and (ii) with respect to contributions, on any date other than as of the beginning
of a calendar quarter. In the event of termination of an advisory agreement, any unearned fees paid in advance are
refunded to the client (minus any account expenses and reserves for expenses). Any Advisory Account clients
investing in the Funds are required to comply with the fees, expenses and other terms and conditions set forth in the
applicable Fund documents.
OTHER FEES AND EXPENSES
General
In addition to the fees described above, clients generally bear and are responsible for all fees, costs and expenses
incurred in connection with their Advisory Accounts and investments, including Sub-Advisory fees, which are outlined
below.
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TYPES OF CLIENTS
We provide advisory services to various types of clients including, without limitation, the Funds, individuals, high
net worth individuals and families, charitable organizations, foundations, endowments, family offices, employees and
other entities. We provide discretionary and non-discretionary investment management services.
ACCOUNT REQUIREMENTS
Funds
Each investor in a Fund must satisfy the eligibility and other requirements outlined in the applicable governing
documents (including subscription documents and offering materials) or otherwise required by applicable laws.
Investments in the Funds may also be subject to minimum initial investment amounts per investor, which may be waived
by us or an affiliate. Any minimum investment amounts are set forth or disclosed in the applicable offering documents.
To invest in a Fund, each investor generally must be, among other things, an “accredited investor” (as such term is
defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended, and a “qualified client” and may
be required to also be a “qualified purchaser” (as such term is defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940, as amended, depending on the Fund. Additional information on the Funds is set forth or
disclosed in the applicable offering documents, which are available to potential investors that meet certain
qualifications and requirements upon request.
Advisory Accounts
In general, our goal is for each client and/or its affiliates (other than employees) to ultimately have, in the aggregate,
at least $10 million in assets under our management, advisement or supervision, with exceptions made as the firm sees
fit. Advisory Account clients are required to, among other things, enter into advisory agreements with us which set
forth the nature and scope of our authority and the investment objectives, guidelines, limitations, and restrictions
applicable to the management or advisement of their accounts. In addition, Advisory Account clients generally must
meet various net worth, net asset and/or other eligibility requirements imposed by or applicable because of various
securities and other laws.