A. General Description of Advisory Firm Chiron was initially formed in July 2015 as a boutique investment management firm focused on managing multi-asset class investment strategies with a Quantamental approach: quantitative base with a fundamental active management overlay. Chiron was originally founded by Enrico Gaglioti, Ryan Caldwell, Marc Spilker and Scott Prince. In February 2020, Franklin Square Holdings, L.P. (FSH) completed an acquisition of 100% of Chiron’s issued and outstanding equity interests. Chiron now operates as a wholly owned subsidiary of FSH. Chiron maintains offices in New York, New York and Overland Park, Kansas. Chiron’s first mutual fund launched on November 30, 2015, The Advisors’ Inner Circle Fund III – FS Chiron Capital Allocation Fund, an open-end 1940-Act Mutual Fund, followed by the launch of FS Funds ICAV-FS Chiron Global Opportunities Fund (an Ireland domiciled UCITS Fund) on March 27, 2017 (closed and shareholder accounts redeemed as of June 30, 2023) the launch of another open end 1940-Act Mutual Fund, The Advisors’ Inner Circle Fund III – FS Chiron SMid Opportunities Fund, on October 2, 2017 (closed and liquidated as of July 31, 2023), and on September 1, 2021, Chiron was added as a co-investment adviser to the FS Chiron Real Development Fund; FS Fund Advisor, LLC, an affiliate of Chiron, is also a co-investment adviser. Chiron is organized as a Delaware limited liability company and registered in August of 2015 with the SEC, as an investment adviser. Chiron is a wholly owned, direct subsidiary of FSH. B. Description of Advisory Services Chiron’s proprietary combination of quantitative and fundamental processes, Quantamental, enables it to add value by identifying correct investment styles and the corresponding factors that drive those styles. Chiron’s selection process is agnostic to growth or value; however, it focuses on emphasizing the correct attribute when the market is willing to reward it. Chiron provides primarily discretionary investment advisory and management services to:
• U.S. open-end registered investment companies (U.S. Mutual Funds), which are registered with the SEC pursuant

to the Investment 1940 Act of 1940, as amended (1940 Act); and Investors in the U.S. Mutual Funds are not considered Chiron's advisory clients and do not enter into investment management agreements with Chiron. With respect to any Fund, this Brochure is qualified in its entirety by the Fund’s offering memorandum, prospectus, statement of additional information and/or similar disclosure and governing documents (collectively, the offering documents). Services for Pooled Accounts Subject to the supervision of each Fund’s board of directors or trustees, Chiron provides investment management and certain related administrative services necessary for the operation of each Fund. Chiron’s responsibilities include, without limitation, investment advisory services, research services, recommending and placing of orders for the purchase and sale of securities for the Funds’ portfolios (based on investment objectives and guidelines of each Fund), working with custodians, transfer agents, pricing agents, accountants, auditors, distributors, and furnishing reports, evaluations and analysis on a variety of subjects. C. Availability of Customized Services for Clients If Chiron accepts a separately managed account, Chiron may, upon written agreement, tailor its investment advisory services to the specific needs of a client. A client may select an investment strategy with existing, standard investment guidelines or a client may request reasonable restrictions on the management of its account. If Chiron agrees to those restrictions, it will manage the account in accordance with the revised investment guidelines. Chiron may not be able to accommodate proposed investment restrictions that are onerous or incompatible with Chiron’s standard investment strategies and investment philosophy, and Chiron may decline to accept or terminate accounts with such restrictions. D. Wrap Fee Programs Chiron does not provide portfolio management services for wrap fee programs. E. Assets Under Management As of December 31, 2023, Chiron managed, on a discretionary basis, $612M. To date, Chiron does not manage any assets on a non-discretionary basis.