Fees and Compensation — Form ADV Part 2A (3/31/2022)
[Brochure]
Item 5: Fees and Compensation
A. Wicks is compensated for advisory services by a fee based on its aggregate capital
commitments (the “Management Fee”) and by a share of capital appreciation (“Carried
Interest”). This compensation is negotiated separately with each Client. The Management
Fee is generally calculated as a share of committed capital and is generally charged at a
rate of 2% of committed capital per year.
Each of Wicks’ investors is a “qualified purchaser” as defined in the Investment Company
Act.
B. The Management Fee is deducted directly from Clients’ accounts on a quarterly basis.
C. Wicks’ Clients may bear additional expenses, including legal and other organizational and
offering expenses. Such expenses may reduce the Management Fee otherwise borne by
such Client, in the discretion of Wicks.
Wicks’ Clients, the Funds, will be responsible for organizational expenses up to a certain
amount (including legal, accounting, filing and other out-of-pocket expenses of organizing
the Funds), generally capped at $1 million per Client.
Wicks' Clients will also pay all expenses related to their own operations, including
expenses related to the purchase and sale of investments; broken deal expenses;
expenses of custodians, outside counsel and accountants; Fund administrators; any
insurance or litigation expenses; and any taxes, fees or other governmental charges levied
against the Fund (collectively, “Operating Expenses”).
To the extent that Wicks’ Clients may incur brokerage fees or other transaction costs, such
costs will be borne by the respective Client. Please see Item 12 for further information
regarding Wicks’ brokerage procedures.
As described more fully in Item 6, Wicks is compensated based on capital appreciation of
its Clients’ assets. The Funds will be reimbursed for all fees described herein before Wicks
receives any such compensation.
D. The Management Fee is deducted from the accounts of Wicks’ Clients quarterly in
advance. In the extremely unlikely event that an advisory contract is terminated before
the end of a billing period, Wicks will refund the overpayment of the Management Fee
pro rata.
E. Wicks does not accept compensation for the sale of securities or other investment
products.
Account Minimums and Types of Clients — Form ADV Part 2A (3/31/2022)
[Brochure]
Item 7: Types of Clients
Wicks provides investment advice to pooled investment vehicles that are exempt from
registration under the Investment Company Act. Investors in the Funds may include high net
worth individuals and institutions, pension plans, endowments and other “qualified purchasers,”
as such term is defined in the Investment Company Act.
In general, the minimum initial investment in a Fund is $5 million, although lesser amounts may
be accepted at Wicks’ discretion.