Fees and Compensation — Form ADV Part 2A (3/9/2023)
[Brochure]
Item 5 - Fees and Compensation
A. For services provided to the Funds, Pineapple is paid a management fee generally at a
percentage rate per annum of the net asset value of each of the Funds, as described in the
applicable Fund’s offering memorandum. Pineapple is not paid a management fee by the
private family office client.
Pineapple and its affiliates may be entitled to incentive compensation from the Funds.
Generally, the incentive compensation will be an amount equal to a percentage (e.g., 10%)
of the net realized and unrealized appreciation of an investor’s investment in a Fund during
the performance period, subject to a high watermark, as described in the applicable Fund’s
offering memorandum. Similarly, Pineapple may be entitled to incentive compensation
from the family office client. The incentive amount will be an amount equal to a percentage
of the net realized and unrealized appreciation of the investments directed by Pineapple
during the performance period, subject to a similar high watermark.
B. Pineapple deducts the management fee from the account of the Funds. The management
fee is calculated and paid monthly based on the net asset value of a Fund’s capital account
balances as of the end of the relevant calendar month. As to capital contributed on a date
other than the first day of a month, Pineapple is paid a prorated management fee.
C. In addition to the management fee and the incentive compensation, as described above and
in Item 6, each Fund bears all costs of its organization and the initial offering of limited
partner interests. Each Fund also bears all expenses incurred in connection with its ongoing
operation and administration.
D. Investors are not charged fees in advance.
3 Pineapple Capital Management, LLC
Part 2A of Form ADV
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E. Except as provided in this Item 5, neither Pineapple nor any of its supervised persons
accepts compensation for the sale of securities or any investment products.
Account Minimums and Types of Clients — Form ADV Part 2A (3/9/2023)
[Brochure]
Item 7 - Types of Clients
Pineapple currently does not have any clients other than the Funds and the one private family
office, although it may advise additional funds or clients in the future. The Funds generally requires
a minimum initial investment of $1,000,000. Potential investors may read the eligibility criteria
and minimum investment requirements in the Fund’s confidential offering memorandum and
subscription application. Pineapple and its affiliates may waive some of those requirements.