The Stagwell Group LLC

The Stagwell Group LLC is a financial advisor firm established in December 2014, with offices in Miami Beach, FL, and Washington, D.C. The firm specializes in providing investment advisory services to pooled investment vehicles exempt from registration under the Investment Company Act of 1940. The principal owner and managing member is Mr. Mark J. Penn. The firm's investment strategy focuses on acquiring positions in data analytics, public relations, advertising, and media-related companies. As of December 31, 2024, the firm managed approximately $1,078,478,836 of assets on a discretionary basis. The fee structure includes non-negotiable fees outlined in the investment management agreement, with the possibility of fee reduction or waiver at the firm's discretion. The firm is eligible to receive a performance-based profit allocation. Clients are private fund investment vehicles limited to accredited investors and qualified purchasers. The firm's investment strategy involves investing exclusively in businesses serving the media and communications industry, with a focus on new digital marketing. Risks include the possibility of partial or total loss of capital, illiquid investments, financial market fluctuations, and cybersecurity risks. The firm has not been subject to any material legal or disciplinary events. The firm has a written Code of Ethics to address conflicts of interest and a personal trading policy. The firm accepts full discretionary authority to manage securities accounts on behalf of its funds.