Ottawa Avenue Private Capital, LLC (the “Company”) is an investment advisory firm based in Grand
Rapids, Michigan, that was founded in 2015 to manage investments in private equity funds, co-
investments in private equity investment opportunities, and other traditional and alternative asset
classes. The Company is a wholly owned subsidiary of Wakestream Holdings, Inc. The principal owners
of Wakestream Holdings, Inc. are members of the Richard and Helen DeVos family.
Prior to the Company’s formation, the Company’s investment team (the “Investment Team”) operated as
a business unit within RDV Corporation and provided investment advisory services to members of the
Richard and Helen DeVos family, various family related trusts, charitable foundations and similar
vehicles, and certain key employees of RDV Corporation (the “RDV Clients”). RDV Corporation was
founded in 1991, primarily to serve as a means to manage the Richard and Helen DeVos family’s wealth
and to facilitate opportunities for the DeVos family members to work together cooperatively. The
Investment Team has been managing investments in private equity and other illiquid, alternative assets
classes on behalf of the RDV Clients since 1991.
In connection with a business initiative to offer investment advisory services to investors not affiliated
with the RDV Clients, RDV Corporation’s investment advisory operations have been reorganized into the
Company, and the Company has registered with the SEC as an investment adviser under the Investment
Advisers Act of 1940, as amended (the “Advisers Act”). In addition to continuing to manage assets on
behalf of the RDV Clients, the Company sponsors a number of private funds (the “Funds”) formed to be
the primary vehicles through which select third-party investors will participate in certain qualifying
investment opportunities side-by-side with the RDV Clients. As further described in Item 8 (“Other
Investment Advisory Services”), the Company is also co-adviser to RidgeLake (as defined below).
As an investment adviser to the RDV Clients, the Company recommends investments in various private
equity, private and structured credit, and secondary investment funds, as well as direct investments, and
once approved, executes and manages such investments on behalf of the RDV Clients. In addition, subject
to certain budgets, guidelines and other investment restrictions set by the RDV Clients, the Company
manages on a discretionary basis a portfolio of investments in various co-investment opportunities
generated by its relationships with the private fund sponsors
in whose funds the RDV Clients have
invested, as well as a small number of other institutional investors (collectively, the “Private Fund
Sponsors”). The Company works closely with and tailors these investment advisory activities to the
individual circumstances of each of the RDV Clients based on various factors, including, without
limitation, investment objective, available capital, tax and other estate planning considerations.
As the investment adviser to the Funds, the Company invests each Fund’s assets in various qualifying
investment opportunities sourced by the Company during such Fund’s investment period. Generally,
each Fund comprises parallel investment vehicles aggregating the commitments made by the RDV Clients
(the “RDV Parallel Vehicle”) and the commitments to onshore and offshore vehicles made by third-party
investors in such qualifying investment opportunities on a pro rata basis based on the size of such
parallel vehicle’s total capital commitments. In 2017, 2018, 2019, and 2021, the Company also sponsored
Funds which hold investments in certain Private Fund Sponsors (the “GP Stakes Funds”), and which
were offered to the third-party investors as stand-alone Fund investment opportunities.
The Company’s services to the Funds are conducted pursuant to an investment advisory agreement that
each Fund enters into with the Company, and in accordance with each Fund’s private placement
memorandum, limited partnership agreement and other governing documents (the “Fund Governing
Documents”). The Company tailors its investment advisory activities to comply with the investment
objective, guidelines, and restrictions set forth in each Fund’s Governing Documents, as the same may be
amended from time to time. Because the Funds will be pooled investment vehicles, the Company will not
take the individual circumstances of Funds’ investors into consideration when providing investment
advice to the Funds. However, in accordance with common industry practice, a Fund or its general
partner may from time to time enter into a “side letter” or similar agreement with an investor pursuant to
which the Fund or its general partner grants the investor specific rights, benefits or privileges that are not
generally made available to all investors. See Item 8 (“Methods of Analysis, Investment Strategies and
Risk of Loss”) for additional details.
As of December 31, 2022, the Company had approximately $17.4 billion in regulatory assets under
management, of which approximately $11.8 billion was managed on a discretionary basis.