DAYBREAK FUND ADVISORS LLC other names

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Adviser Profile

As of Date:

03/27/2024

Adviser Type:

- Large advisory firm


Number of Employees:

18 5.88%

of those in investment advisory functions:

11


Registration:

SEC, Approved, 4/15/2016

Other registrations (1)
AUM:

961,916,408 27.31%

of that, discretionary:

961,916,408 27.31%

Private Fund GAV:

840,493,561 26.33%

Avg Account Size:

160,319,401 -57.56%


SMA’s:

NO

Private Funds:

6 4

Contact Info

713 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
756M 648M 540M 432M 324M 216M 108M
2016 2017 2018 2019 2020 2021 2022 2023

Recent News



Private Funds Structure

Fund Type Count GAV
Private Equity Fund 6 $840,493,561

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Private Funds



Employees




Brochure Summary

Overview

A. The Adviser is a registered investment advisory firm registered with the U.S. Securities and Exchange Commission (the “SEC”) effective as of April 15, 2016. Our registration as an investment adviser does not imply any level of skill or training. The oral and written communications we provide you, including this brochure, include information you can use to evaluate us and other advisers, which are factors in your decision to hire us or to continue to maintain a mutually beneficial relationship. This brochure provides information about our qualifications and business practices. The Adviser was formed as a Delaware limited liability company in 2011. The Adviser is located in Houston, Texas and specializes in making private equity investments in the energy service industry and related businesses in the energy industry. Mike Scott and William E. Chiles are the principals and equity owners of the Adviser (the “Principals”). B. The Adviser provides investment advisory services on a discretionary basis for multiple pooled investment vehicles (each a “Fund”, and collectively, the “Funds”) that the Adviser sponsors. Typically, the Funds will be closed-end limited partnerships in which investors subscribe for limited partner interests. The Funds directly or indirectly invest in the securities of privately- held companies primarily but may also invest in publicly-traded companies. Each Fund may have different investment strategies and may have different investment restrictions. The purchase of the interests offered in each Fund is suitable for persons who can afford to hold the interests for an indefinite period and to assume the risks of and bear the possible loss of their entire investment in the interests. The Adviser may also serve as the sponsor of entities that serve as feeder vehicles into the Funds. Additionally, in order to meet tax, regulatory or other requirements, certain investors may invest in substantially the same portfolio as the applicable Funds through specially formed investment vehicles, which also are advised by the Adviser. From time to time, the Adviser may establish, on a transaction-by-transaction basis, investment vehicles and accounts through which certain persons may invest alongside one or more Funds (each such pooled investment vehicle and account, a “Co-Investment
Vehicle”). Generally, when a Co-Investment Vehicle is established for a particular transaction, it is contractually required, as a condition of its investment, to exit its investment at the same time and on the same terms as the applicable Fund that also is invested in such transaction. The Adviser’s only advisory clients are the Funds and certain feeder vehicles and Co- Investment Vehicles (collectively, the “Clients”). C. Investment advisory services include working with Clients to establish an investment objective and selecting portfolio investments utilizing the Adviser’s overall investment strategy, which focuses on making private equity investments in the energy service industry and related businesses in the energy industry. While the Adviser’s services with respect to each of its Clients generally follow the broad strategy described above, the Adviser may tailor the specific advisory services with respect to each Client to the individual investment strategy of such Client. The terms upon which the Adviser will provide investment advisory services to each Client are set up at the time such Client is established and are generally set out in a separate management agreement with such Client and in the limited partnership agreement, limited liability company agreement or other organizational document governing such Client. These terms, which vary among Clients, generally include restrictions on the types of securities and other assets in which the Client may invest, the amount of assets that may be invested in any portfolio company or industry, the industries in which the Client may invest, and borrowing, among others. The Adviser also may enter into side letter agreements with certain investors in the Clients, establishing rights under, or supplementing or altering the terms of, the applicable limited partnership agreement, limited liability company agreement or other organizational document and subscription agreement relating to such Clients with respect to such investors. Once invested in a Client, investors cannot impose additional investment guidelines or restrictions on such Client. D. The Adviser does not participate in wrap fee programs. E. As of December 31, 2023, the Adviser manages approximately $961,916,408 in discretionary portfolios and $0 in non-discretionary portfolios.