Andros Capital Partners LLC

Andros Capital Partners, LLC is a registered investment adviser with the SEC, established in July 2020 by Phillip Gayle. The firm specializes in providing discretionary investment management services to affiliated private equity funds primarily focused on the energy industry. As of December 31, 2024, Andros Capital manages $1,721,874,847 in assets under management on a discretionary basis. The firm charges management fees ranging between 1% and 1.5% of total invested capital, along with carried interest ranging from 10-20%. Andros Capital's investment strategy focuses on complex energy and infrastructure transactions in the U.S. lower and middle market, aiming to provide downside protection and maximize return on invested capital. The firm employs rigorous fundamental analysis, emphasizes growth through effective reinvestment, and manages toward a successful exit. Andros Capital has a Code of Ethics in place, addressing standards of conduct, potential conflicts of interest, and personal trading. The firm generally has custody of the Funds' assets and complies with the Custody Rule by providing audited financial statements to investors annually. Andros Capital has proxy voting authority on behalf of the Funds and votes proxies in the best interest of the Clients. The firm has no financial commitments impairing its ability to meet contractual and fiduciary commitments.