Mountain  Capital  Management,  LLC  (the  “Management  Company”),  a  Delaware  limited  liability 
company, is a private investment management firm focused on making investments in the energy industry 
on behalf of its investment advisory clients, which currently consist of multiple private investment funds 
(each, a “Fund” or “Client,” and together with related parallel funds, feeder funds, alternative investment 
vehicles, co-investment vehicles and other related entities, and any future private investment vehicles to 
which the Management Company and its affiliates provide investment advisory services, the “Funds” or 
“Clients”).    
The  Management  Company  and  its  affiliates  (collectively,  “Mountain  Capital”),  including  (but  not 
limited  to)  the  general  partners  of  the  Funds  (collectively,  together  with  any  future  affiliated  general 
partner  entities  the  “General  Partners”),  provide  investment  supervisory  services  to  the  Funds.  Each 
General Partner is deemed to be a registered investment adviser under the U.S. Investment Advisers Act 
of 1940, as amended (the “Advisers Act”) (and relies on the Management Company’s registration) in 
accordance with SEC guidance. The Management Company and the General Partner, collectively, (the 
“Advisers”) operate as a single investment advisory firm and under common control.  
The  Advisers  currently  provide  investment  advisory  services  to  multiple  vintage  year  Funds.    Co-
investment vehicles are organized by the Advisers to co-invest with primary Funds and/or their related 
Funds  in  one  or  more  portfolio  investments  of  such  Funds.  Investors  in  such  co-investment  vehicles 
include  Fund  investors  as  well  as  other  third  parties.  The  Advisers  expect  in  the  future  to  provide 
investment  advisory  services  to  additional  investment  advisory  clients,  including  private  investment 
funds and one or more separately managed accounts. The Funds make investments in private equity and, 
in certain instances, other equity and debt securities of public and private issuers (including securities 
convertible into equity and debt securities), derivative instruments and any other financial instruments or 
assets that the Advisers believe may help achieve the Fund’s respective investment objectives. Any future 
Funds and/or other investment advisory clients are expected to have similar investment objectives but 
could differ. 
Pursuant  to  each  Fund’s  limited 
                                        
                                        
                                             partnership  agreement  or  similar  governing  document  (each,  an 
“Operating Agreement”), the Advisers have the authority to manage the business and affairs of the Funds.   
The  Advisers’  advisory  services  consist  of  investigating,  identifying  and  evaluating  investment 
opportunities,  structuring,  negotiating  and  making  investments  on  behalf  of  the  Funds,  managing  and 
monitoring the performance of such investments and disposing of such investments.  Such services are 
detailed in the applicable disclosure documents, Operating Agreements and other governing agreements 
for  the  applicable  Fund  (collectively,  the  “Fund  Documents”)  and  are  further  described  below  under 
“Methods of Analysis, Investment  Strategies and Risk  of Loss.” While each Operating Agreement  is 
subject to negotiation by Fund investors, once committed to a Fund, Fund investors participate in a Fund’s 
overall investment program and generally cannot withdraw their capital or impose any limitations on the 
Advisers’ ability to manage a Fund, although certain investors in certain circumstances are excused from 
participating  in  a  particular  investment  due  to  legal,  regulatory  or  other  applicable  constraints  in 
accordance with the provisions of the applicable Fund Documents or pursuant to other contractual rights 
included in the applicable Fund Documents.  For example, investors in certain Funds have certain opt-
out rights with respect to such Funds’ respective investments, as detailed in the Fund Documents for such 
Funds. Such arrangements generally do not and will not create an adviser-client relationship between the 
Advisers  and  any  investor.  Each  Fund  or  Adviser  generally  enters  into  letter  agreements,  parallel 
investment agreements, other co-investment agreements or other similar agreements (collectively, “Side 
Letters”) with certain investors that have the effect of establishing rights under, altering or supplementing 
the Operating Agreement for a particular Fund, including providing informational rights, co-investment 
rights, addressing regulatory matters, varying economic rights (including fees and carried interest), or 
providing other specialized rights and benefits with respect to such investors.  
The Management Company commenced operations in September 2015, and as of December 31, 2023 
has  $1,396,979,753  in  client  regulatory  assets  under  management.  The  principal  owner  of  the 
Management Company is Samuel Oh.