Item 5. Fees and Compensation
Our fees and compensation are described in the advisory contracts we enter into with the Funds, as well
as in the Feeder Fund’s offering memorandum. All of our clients are “qualified purchasers” (as defined in
Section 2(a)(51) of the Investment Company Act of 1940, as amended).
We are paid management fees from the Funds monthly in advance. Once paid, management fees are
non-refundable. We may waive or modify the management fee payable with respect to any investor,
including any of our employees or partners, without notice to or consent from any investor.
We or our affiliates are also entitled to receive performance-based allocations from the Funds, as further
described in Item 6 – Performance-Based Fees and Side-By-Side Management.
The Funds will bear the reasonable costs and expenses incurred in connection with their formation and
organization and their own operating costs, including, without limitation: (i) the above-described
management fees; (ii) indemnification expenses; (iii) commissions; (iv) clearing fees; (v) fees, interest and
other costs on margin accounts or other financings or re-financings; (vi) any taxes and duties payable in
any jurisdiction in connection with the operations of the Funds and vehicles through which they invest;
(vii) accounting and legal fees and disbursements (including legal fees related to the acquisition,
protection and distribution of the Funds’ investments); (viii) accounting, audit and tax preparation
expenses; (ix) fees of the Funds’ third-party administrator (the “Administrator”); (x) investment-related
expenses, including research, subscriptions, quotation services, order management and execution
licenses and subscriptions and data feeds; (xi) borrowing charges on securities sold short; (xii) custodial
Plinth Capital LP Form ADV Part 2A
fees; (xiii) bank service fees; (xiv) third-party servicing agents; (xv) expenses in connection with
transactions directed to broker-dealers in part in recognition of investment research and information
furnished or expenses for services rendered by broker-dealers in the execution of such orders and the use
of such research and other services provided by such broker-dealers; (xvi) investment and trading
consultant expenses; (xvii) investment-related travel and entertainment expenses; (xviii) expenses in
connection with proposed transactions (including transactions that fail to close); (xix) expenses related to
reporting to and communicating with investors; (xx) liability insurance premiums with respect to us, Plinth
Capital GP LLC, and its board of managers; (xxi) service fees of the independent directors and/or
managers; (xxii) registered office expenses; and (xxiii) any other expenses related to the purchase, sale,
holding or transmittal of the Funds’ assets, liabilities or the Funds’ businesses or affairs.
From time to time, we also allocate a portion of certain clients’ capital to money market funds or
exchange-traded funds. In addition to the fees and expenses discussed above, clients will indirectly incur
similar fees and expenses if we invest their capital in such funds, as these funds in turn pay similar fees
and expenses to their investment managers and other service providers.
For a more detailed discussion of brokerage and transaction costs, see Item 12 - Brokerage Practices.