Lorient Capital Management, LLC

Lorient Capital Management, LLC is a Delaware limited liability company established in Miami, Florida, providing discretionary investment advisory services to privately offered pooled investment vehicles. The firm focuses on control investments in micro middle-market growth companies within the healthcare services industry, particularly in areas like physician practice management and behavioral health. Clients are sophisticated investors, and the firm manages approximately $1.4 billion in regulatory assets under management as of December 31, 2022. For Fund I and Fund II, a quarterly management fee of 2.0% per annum is charged based on each investor's capital commitment or invested capital. Additionally, the General Partners may receive an annual incentive allocation of up to 20% of net profits. The firm does not charge a management fee for other Advisory Clients. Lorient does not participate in a wrap fee program and does not receive compensation for the sale of securities or charge commissions in addition to advisory fees. Clients have investment discretion, and the firm accepts discretionary authority to manage securities accounts. Lorient does not vote proxies on behalf of clients and utilizes qualified custodians to hold client assets. The firm does not vote proxies on behalf of clients and does not require prepayment of fees exceeding $1,200. Lorient has no reportable disciplinary events and has not been subject to a bankruptcy petition in the past ten years.