Item 5. Fees and Compensation
Our fees and compensation are described in the Funds’ Governing Documents. The Funds pay us a
quarterly management fee of 0.25% (1.0% on an annualized basis). Management fees are paid in advance.
Once paid, the management fee is non-refundable. All or part of the management fee applicable to any
investor may be waived, reduced, rebated, discounted or calculated differently in our discretion. No
management fees are paid with respect to interests/shares held by the CIO or by our employees or
employees of our affiliates.
Yarra Square Advisors is 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, directly or indirectly, bear their own expenses, including, without limitation, the following:
(i) expenses related to the research, execution and monitoring of actual and prospective investments
(whether or not consummated) and the consummation of investments, including, without limitation, the
following: third-party investment sourcing fees; consulting fees; expert fees; fees and expenses of and
related to obtaining research, analytics and market data (including, without limitation, data subscriptions
(such as Bloomberg, FactSet and Refinitiv) and any information technology hardware, software or other
technology incorporated into the cost of obtaining and/or storing such research and market data); due
diligence expenses including, without limitation, consulting and appraisal fees; investment- and research-
related travel expenses (including first and business class fares, to the extent permitted by our written
Yarra Square Partners LP Form ADV Part 2A
policies and procedures); any outsourced trading provider fees; brokerage and prime brokerage fees,
commissions and expenses (including the costs of negotiating, documenting and/or amending
agreements with prime brokers, ISDAs and other agreements with trading and financing counterparties);
expenses relating to borrowing securities to be sold short; clearing and settlement charges; custodial fees
and expenses; bank service fees; interest expenses and other borrowing costs; fees and expenses of proxy
research and voting services; broken deal expenses; and fees and expenses of third-party professionals,
including, without limitation, consultants, investment bankers, attorneys and accountants; (ii)
organizational expenses and fees and expenses incurred in connection with the offering and sale of the
shares and interests, including, without limitation, the following: the preparation and amendment of this
offering memorandum, the articles, the partnership agreements, the investment management agreement
and the Funds’ subscription agreements; fees and expenses that we incurred in connection with “world
sky” matters and private placement regimes, including the European Alternative Investment Fund
Managers Directive, and Form D and blue sky and similar fees and expenses; and expenses incurred in
connection with negotiating, documenting and complying with provisions of any side letter agreement
with investors; (iii) operational expenses, including, without limitation, the following: fees and expenses
relating to information technology hardware, software or other technology (including, without limitation,
costs of software licensing, implementation, data management, data analysis and recovery services and
custom development) used to research investments, evaluate and manage risk, facilitate valuations,
facilitate accounting functions, facilitate compliance with the rules of any self-regulatory organization or
applicable law (including, without limitation, reporting obligations) in connection with the activities of the
Funds, and facilitate and manage the order execution of securities or otherwise manage the Funds
(including, in each case, Bloomberg terminals, portfolio management systems, analytic systems and order
management systems); fees and expenses of third-party risk management products, models and services;
third-party administrative fees and expenses, including fees and expenses of the Funds’ administrator (the
“Administrator”) and any middle office and/or back office service provider; fees and expenses of third-
party professionals, including, without limitation, consultants, valuation service providers, attorneys,
accountants and tax preparers; third-party audit and tax preparation expenses; insurance expenses (to
the extent permitted by our written policies and procedures), including, without limitation, its allocable
portion of premiums for cybersecurity insurance and liability insurance (including directors and officers
liability insurance and errors and omission insurance) covering the Funds, the General Partner, us and the
current or former principals, officers, employees, managers, partners, members, affiliates or agents of any
of the foregoing, and the Directors (in each case, even if such insurance covers conduct for which
indemnity would not be available from the Funds); fees and expenses associated with Director meetings
and meetings of the investors as a whole, including, without limitation, expenses related to the
organization and conduct of such meetings (including, without limitation, travel (including first and
business class fares, to the extent permitted by our written policies and procedures), lodging and meal
expenses), and Director fees (including registration fees); costs of preparing and distributing reports and
notices to Investor (including the development, implementation and maintenance of an investor
electronic delivery site and/or system); entity-level taxes; fees and expenses related to compliance with
applicable law and regulations in connection with the activities of the Funds, including, without limitation,
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