Keenan Capital, LLC

Keenan Capital, LLC, a California limited liability company, was established in March 2012 and registered as an investment adviser with the SEC in April 2018. The firm specializes in providing investment advisory services on a discretionary basis to a privately offered pooled investment vehicle, Keenan Capital Fund, LP. The Fund's investment objective is long-term capital appreciation through a concentrated portfolio of public and private companies with specific characteristics. Keenan manages the Fund's assets totaling $691,779,529 as of December 31, 2024, with a management fee of 1.00% annually and a performance allocation of 20%. The firm operates as a fiduciary, acting in the best interests of its clients and has a Code of Ethics in place to ensure ethical conduct. Keenan exercises full investment discretion for the Fund and is responsible for voting client securities in their best interests. The firm does not have any disciplinary events, engages in soft dollar arrangements, or maintains referral arrangements for compensation. Keenan reviews client accounts periodically, provides financial statements, and complies with custody rules. The firm's brokerage practices prioritize best execution for clients, and it does not participate in principal transactions. Keenan's financial condition is stable, and it has not been involved in bankruptcy proceedings in the last ten years.