9AT: SPRING LAKE ASSET MANAGEMENT, INC.

other names

SPRING LAKE ASSET MANAGEMENT, INC.

Adviser Profile

As of Date	03/20/2026
Adviser Type - Large advisory firm
Number of Employees	10 25%
of those in investment advisory functions	8 33%
Registration	SEC, Approved, 07/29/2016
Other registrations (1)	SEC, ERA - Withdrawn, 07/18/2016

AUM^*	1,472,333,834 36%
of that, discretionary	1,472,333,834 36%
Private Fund GAV^*	1,432,854,721 28%
Avg Account Size	368,083,459 2%
SMA’s	No
Private Funds	3
Contact Info	813 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$1,432,854,721

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 FOURWORLD CAPITAL MANAGEMENT LLC	Hedge Fund939.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV939.8m	AUM1.4b	#Funds13
Adviser NUCLEO CAPITAL LTDA.	Hedge Fund15.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.8m	AUM279.5m	#Funds1
Adviser KEYFRAME CAPITAL PARTNERS, L.P.	Hedge Fund700.6m	Liquidity Fund-	Private Equity Fund236.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV937.3m	AUM977.3m	#Funds19
Adviser JB INVESTMENTS MANAGEMENT, LLC	Hedge Fund773.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV773.4m	AUM773.4m	#Funds3
Adviser FOURSIXTHREE CAPITAL LP	Hedge Fund1.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.5b	AUM3.2b	#Funds7
Adviser HERCULES ADVISER LLC	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM1.6b	#Funds10
Adviser SANDIA INVESTMENT MANAGMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM625.4m	#Funds-
Adviser CENTERBOOK PARTNERS LP	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM2.9b	#Funds6
Adviser WESCAP GROUP	Hedge Fund39.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV39.0m	AUM1.1b	#Funds1
Adviser NEWBROOK CAPITAL ADVISORS LP	Hedge Fund1.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.0b	AUM1.0b	#Funds11

Brochure Summary

Overview

The Adviser is a Delaware corporation co-founded by Tom Caldwell and Chris Crosby in 2014. Adviser is wholly-owned by Mr. Caldwell, Mr. Crosby, Ms. Kaitlin Briscoe, and Mr.Brodsky. The Adviser serves as manager and provides investment advisory services to pooled investment vehicles called Spring Lake Unconstrained Municipal Opportunities Fund, LLC, a Delaware limited liability company, and investment vehicle called Spring Lake Unconstrained Municipal Opportunities Fund II, LLC, a Delaware limited liability company, and sponsors a feeder fund, SLAM Investments, a company incorporated in the Cayman Islands with limited liability, which invests substantially all of its assets in Spring Lake Unconstrained Municipal Opportunities Fund, LLC and Spring Lake Unconstrained Municipal Opportunities Fund II, LLC (each individually a “Fund”, and collectively, the “Funds”). The Funds are exempt from registration under the Investment Company Act of 1940, as amended, and their securities are not registered

under the Securities Act of 1933, as amended (the “1933 Act”). The Funds seek to maximize total return by actively pursuing relative value opportunities in the taxable and tax-exempt municipal bond markets. Adviser’s services are provided to the Funds pursuant to the terms of the Funds’ respective offering documents and operating agreements (collectively, “Governing Documents”). The Adviser provides investment advisory services to the Funds in accordance with their Governing Documents. Investment advice is provided directly to the Funds and not individually to the investors in the Funds. Any restrictions on investments in certain types of securities are set forth in the Funds’ offering documents received by each Fund investor prior to investment. Once invested in the Funds, investors cannot impose restrictions on the types of securities in which the Funds may invest. As of December 31, 2023, the Adviser managed approximately $1,085,978,179 in assets, all on a discretionary basis.

SPRING LAKE ASSET MANAGEMENT, INC.

Adviser Profile

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Compensation Arrangments

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Brochure Summary

Overview