Emerald Lake Capital Management, L.p.

Emerald Lake Capital Management, L.P. is an investment adviser registered with the SEC since February 2018. The firm specializes in serving as an investment adviser to private investment funds, primarily private equity funds. They manage approximately $1.5 billion on a discretionary basis as of December 31, 2024. The firm is controlled by Daniel Lukas and owned by Daniel Lukas and the Emerald Lake Trust. Emerald Lake charges a management fee of 0-1% of aggregate invested capital annually or quarterly. They also receive carried interest based on the Fund's profits. The firm may exempt certain affiliated partner investors from paying management fees and carried interest. Investment strategies focus on acquiring portfolio companies and their subsidiaries, with a long-term investment approach. The firm's investment process includes deal sourcing, due diligence, strategic growth planning, and exit strategies. Emerald Lake discloses potential risks associated with their investment strategies, such as business risks, illiquidity, and leverage risks. Emerald Lake has a Code of Ethics and Securities Trading Policy to address conflicts of interest and personal trading. The firm also has Proxy Voting Policies and Procedures in place for voting client securities. They maintain custody of assets with qualified custodians and have investment discretion for managing client investments.