9AT: THORNTREE CAPITAL PARTNERS LP

other names

THORNTREE CAPITAL PARTNERS LP

Adviser Profile

As of Date	03/31/2025
ADV Location	BOSTON, MA, United States
Adviser Type - Large advisory firm
Number of Employees	10 11%
of those in investment advisory functions	7 17%
Registration	SEC, Approved, 05/31/2016

AUM^*	1,084,145,947 44%
of that, discretionary	1,084,145,947 90%
Private Fund GAV^*	1,084,145,947
Avg Account Size	180,690,991 90%
SMA’s	No
Private Funds	6
Contact Info	617 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$1,059,977,993
Fund TypePrivate Equity Fund	Count3	GAV$24,167,954

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser MERCED CAPITAL, L.P.	Hedge Fund88.3m	Liquidity Fund-	Private Equity Fund384.6m	Real Estate Fund65.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV538.3m	AUM438.3m	#Funds9
Adviser BOW STREET LLC	Hedge Fund89.2m	Liquidity Fund-	Private Equity Fund435.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV524.2m	AUM673.0m	#Funds13
Adviser COOK PINE CAPITAL LLC	Hedge Fund74.8m	Liquidity Fund-	Private Equity Fund227.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV302.6m	AUM456.6m	#Funds3
Adviser HIDDEN LAKE ASSET MANAGEMENT LP	Hedge Fund365.8m	Liquidity Fund-	Private Equity Fund2.2m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV367.9m	AUM367.9m	#Funds8
Adviser BOSTWICK CAPITAL LLC	Hedge Fund76.4m	Liquidity Fund-	Private Equity Fund129.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV205.4m	AUM205.4m	#Funds7
Adviser GFO ADVISORY SERVICES, LLC	Hedge Fund268.9m	Liquidity Fund-	Private Equity Fund4.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV273.2m	AUM290.6m	#Funds9
Adviser RESOLUTE CAPITAL ASSET PARTNERS LLC	Hedge Fund296.2m	Liquidity Fund-	Private Equity Fund55.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV351.6m	AUM296.2m	#Funds4
Adviser HONEYCOMB ASSET MANAGEMENT LP	Hedge Fund519.2m	Liquidity Fund-	Private Equity Fund32.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV552.1m	AUM552.1m	#Funds6
Adviser HOUSE HANOVER LLC	Hedge Fund16.4m	Liquidity Fund-	Private Equity Fund45.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV62.0m	AUM46.7m	#Funds6
Adviser OCTAGON CAPITAL ADVISORS LP	Hedge Fund735.9m	Liquidity Fund-	Private Equity Fund183.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV919.8m	AUM919.8m	#Funds8

Brochure Summary

Overview

ThornTree Capital Partners LP (“ThornTree”), a Delaware limited partnership, provides discretionary investment management services to several pooled investment vehicles (“private fund clients” or “Clients”). Formed in November 2015, ThornTree is wholly owned and controlled by Mark C. Moore and his affiliated estate planning entities and trusts. Mr. Moore is the founder, Managing Partner and Chief Investment Officer of ThornTree (“Founder” or “Managing Partner”). Our investment objective is to generate strong risk-adjusted returns over the course of various market cycles through a concentrated portfolio consisting of global public long/short and private equity investments. In carrying out our investment strategy, we typically take positions in listed equities, ADRs and GDRs, as well as contracts for differences and total return swaps on the foregoing. We also trade instruments listed on both U.S. and non-U.S. exchanges and at times may trade U.S. and non-U.S. currencies for hedging purposes as well as other securities for cash management purposes. We also may invest a portion of our private fund client assets in private companies (“Private Investments”). Such Private Investments are expected to be comprised substantially of equity investments in early stage, business growth opportunities.

Additional information about ThornTree investment strategies and associated risks can be found in greater detail below in Item 8, Methods of Analysis, Investment Strategies and Risk of Loss. The investment activities of ThornTree are led by Mr. Moore, who also oversees the implementation of the investment strategy and various portfolio and risk management matters. In providing services to the private fund clients, among other things, ThornTree manages assets in accordance with the terms of the applicable governing documents. ThornTree provides investment advice directly to the private fund clients and not individually to a Client’s limited partners, shareholders, or fund investors (collectively “Fund Investors”). Investment restrictions for the private fund clients are generally established in the applicable governing document such as a limited partnership agreement or private placement memorandum (collectively “Fund Governing Documents”). An affiliate of our firm controlled by Mr. Moore, ThornTree Capital GP LLC (the “General Partner”), a Delaware limited liability company, serves as the general partner to the private fund clients. As of December 31, 2023, ThornTree had regulatory assets under management of approximately $752,295,521, all of which are managed on a discretionary basis.

THORNTREE CAPITAL PARTNERS LP

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