Sygnus Capital PR LLC

Item 5. Fees and Compensation

        Each investor who is considering an investment in a Fund should review the relevant
Private Placement Memorandum, Separate Series Supplement, Limited Liability Company
Agreement or Limited Partnership Agreement, Separate Series Operating Agreement,
Investment Management Agreement, Subscription Agreement, and other offering
documents (collectively, the “Governing Documents”) as applicable to the Fund, for a
detailed description of the fees and expenses applicable to such Fund. A general summary
of the fees charged by the Company to the Funds is provided below.

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 Sygnus Capital PR LLC and Sygnus Capital USA LLC

Management Fee

      The Company offers its services on a fee basis. Generally, the Company charges each
Fund a management fee based on a percentage of such Fund’s assets ranging from 1.25% to
1.95% per annum of the net book value of the assets of such Fund. Management fees paid by
a Fund are indirectly borne by the investors in such Fund. The management fee is payable
monthly in arrears.

       The specific terms and fee structure are negotiated in advance and included in the
Investment Advisory Services Agreement executed by the Company and each Fund. In
addition, with respect to a Fund organized as a series limited liability company the specific
terms and fee structure may vary between each series of such Funds.

      Any prepaid, but unearned, management fees due to the termination of a Fund’s
Investment Advisory Services Agreement will be refunded to that Fund.

Performance-Based Fee / Carried Interest, Preferred Returns, Payment-in-Kind Interest

         With respect to certain Funds, the Company is entitled to a performance-based fee
(i.e., carried interest) ranging from 15% to 17.5% of the Fund’s cumulative distributions to
both its members and the Company in a fiscal year, payable after the payment of a preferred
return and total return of capital (in certain funds depends on the agreement). The carried
interest is disclosed in the Fund’s offering documents and is subject to a clawback.

      With respect to certain Funds, the Company is entitled to certain preferred returns,
payment-in-kind interest or other interest depending on the structure of each particular
investment.

Other Types of Fees and Expenses

        In addition to management fees and carried interest and other fees paid to the
Company as described above, the Funds may also incur certain additional charges imposed
by third parties such as loan/lease servicers, custodians, auditors, banks and other financial
institutions, including, with respect to one or more Funds, a servicing fee equal to 0.25% per
annum of the net book value of the assets of the Fund, as of the end of each month, payable
monthly in arrears to the Company. The Funds may also bear costs associated with capital
raising activities, including fees and expenses paid to third-party placement agents, solicitors
or other service providers engaged to assist in sourcing investors. Such fees may include a
percentage of capital commitments or contributions from investors introduced by such
parties, as well as fixed or success-based fees. As a result, Fund investors will indirectly bear
these costs.

       Expenses attributable to and borne by each Fund are described in the respective
Fund’s Governing Documents. The Funds generally will bear expenses related to the
acquisition or purchase of portfolio investments, but not the expenses associated with
analyzing or conducting due diligence; banking, custodian, audit, government, legal and

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 Sygnus Capital PR LLC and Sygnus Capital USA LLC

accounting fees; liability insurance premiums; indemnification obligations; any fees payable
to any other investment adviser selected by the Company; capital raising and related
marketing fees and expenses; any extraordinary fees, costs and expenses (such as arbitration
or litigation expenses); any taxes payable by the Funds to any government authority.

       Depending on the Fund, the Company, in its sole discretion, may waive or reduce its
management and/or incentive fees for investors that are principals, employees or affiliates
of the Company or its affiliates or relatives of such persons, make a substantial investment
or otherwise are determined by the Company to represent a strategic relationship.

Item 7. Types of Clients

      The Company provides its advisory services solely to the Funds. Any minimum
investment amount with respect to a Fund is disclosed in the Fund’s offering documents.