Overview
Advisory Services
4. A. Advisory Firm Description
Five Arrows Managers (USA) LLC (“Five Arrows USA” or the “Adviser”) was formed in
April of 2017. Five Arrows USA is directly owned by Rothschild & Co Investment
Managers SA (formerly known as PO Participations S.A. and conducts business under
Five Arrows USA). Rothschild & Co Investment Managers (“R&Co IM”) is a Luxembourg-
based registered investment adviser, is majority owned by K Developpement SAS, a
subsidiary of Rothschild & Co SCA (“Rothschild & Co”). Rothschild & Co (formerly
known as Paris Orleans SCA), is a global financial services organization that was
founded in the 18th century by members of the Rothschild family and is listed on the
Euronext Paris exchange.
The principal owners who, directly or indirectly, own or have an ownership interest of
25% or more of Five Arrows USA are listed below:
• Rothschild & Co SA
• K Developpement SAS
• Rothschild & Co Investment Managers
4.B. Types of Advisory Services
The Adviser currently provides investment management services to private equity
funds and is also a portfolio manager to additional private equity funds managed by
R&Co IM (collectively, the “Funds"). The Funds have not been offered or sold via a public
offering.
Five Arrows USA's primary investment strategy for the Funds involves investments in
the Healthcare, Data and Software and Technology Enabled Services sectors. The
investment objective of the Funds is to build on the investment strategy deployed by
European private equity funds, formed by Rothschild & Co
Merchant Banking (“RMB”),
a division of Rothschild & Co.
The Adviser may also offer investment management services to other funds or accounts.
Persons reviewing this Brochure should not construe this as an offering of securities or
a solicitation to purchase shares in any of the Funds described herein, which will only
be made pursuant to the delivery of a private placement memorandum to eligible
investors.
4.C. Client Investment Objectives/Restrictions
Each Fund is managed in accordance with that Fund’s specific investment objective,
strategy, and restrictions and are not tailored to the individualized needs of any one
investor (each, an “Investor”). Investors may not impose restrictions on investments,
and therefore, should consider whether an investment in the Funds meets their
investment objectives and risk tolerance prior to investing. Information about the
Funds can be found in the offering documents. These will be made available to qualified
current and prospective Investors only through Five Arrows USA or another authorized
party.
4.D. Wrap-Fee Programs
The Adviser does not participate in, nor is it a sponsor of, any wrap fee programs.
4.E. Assets Under Management as of December 31, 2022
As of December 31, 2023, Five Arrows USA managed 835,291,865in discretionary
assets under management and $0 in non-discretionary assets under management. This
amount was calculated consistent with the method used to calculate regulatory assets
under management. Five Arrows USA does not manage any client assets on a non-
discretionary basis.