Broadoak Asset Management, LLC

BroadOak Asset Management, LLC, established in 2009, specializes in providing investment advisory services to pooled investment vehicles, focusing exclusively on the life sciences sector. The firm, wholly owned by BroadOak Capital Partners, LLC, manages private investment funds with a narrow investment focus within the healthcare sector. BroadOak implements investment strategies evaluating life sciences, pharmaceutical, biotechnology, and healthcare services companies. The firm manages $370,973,419 on a discretionary basis as of December 31, 2023. Fees for advisory services are separately negotiated and generally do not exceed 2.5% of net capital committed, with performance-based compensation also applicable. Clients may incur bank, audit, and legal fees in addition to management fees. BroadOak's investment strategy involves investing primarily in growth-stage life sciences companies, with a focus on debt or minority equity financing. The firm conducts extensive due diligence in various areas before making investment decisions. Clients should be prepared for risks associated with investing in privately held small companies, including limited financial resources, unpredictable operating results, and limited market information. BroadOak has a Code of Ethics, and its principals are invested in the same securities as clients. The firm does not receive compensation for recommending third-party advisors. BroadOak has custody of funds and securities of its funds and provides audited financial statements to investors annually. Clients should review quarterly statements carefully. BroadOak has discretionary authority over investment decisions and typically does not hold voting securities. The firm is not aware of any financial condition impairing its ability to meet contractual commitments.