Mountaingate Management Co., LLC, a Delaware limited liability company and a registered investment adviser, and its affiliated investment advisers, including Mountaingate Management Co. II, LLC, a Delaware limited liability company, and KRG Capital Management, L.P., a Delaware limited partnership (each, a “Relying Adviser,” and together, the “Relying Advisers”), provide investment advisory services to private investment funds offered to qualified investors in the United States and elsewhere. Mountaingate Management Co., LLC commenced operations in March 2015. Mountaingate Management Co., LLC and Mountaingate Management Co. II, LLC are referred to herein as the “Adviser.” Additional information regarding KRG Capital Management, L.P. and its business practices is described in a separate brochure, which is available on the SEC’s website at www.adviserinfo.sec.gov. Mountaingate Management Co., LLC’s clients include the following private investment funds (each, a “Fund,” and collectively, together with any future private investment fund(s) to which Mountaingate Management Co., LLC, Mountaingate Management Co. II, LLC and/or its affiliates provide investment advisory services, the “Funds”):
• Mountaingate Capital Fund I, L.P.;
• Mountaingate Capital Fund I-A, L.P.; and
• Mountaingate Capital Fund I-FF, L.P. (together with Mountaingate Capital Fund I, L.P. and Mountaingate Capital Fund I-A, L.P., “Fund I”).
• Mountaingate Capital Fund II, L.P.;
• Mountaingate Capital Fund II-A, L.P.; and
• Mountaingate Capital Fund II-FF, L.P. (together with Mountaingate Capital Fund II, L.P. and Mountaingate Capital Fund II-A, L.P., “Fund II”). Mountaingate Capital Management, L.P. and Mountaingate Capital Management II, L.P. serve as general partner entities that are affiliated with the Adviser (each, a “General Partner,” together with any future general partner entities, the “General Partners,” and collectively with the Adviser, “Mountaingate Capital”). Mountaingate Capital Management, L.P. is the general partner of Fund I. Mountaingate Capital Management II, L.P. is the general partner of Fund II. Each General Partner and Relying Adviser is subject to the Advisers Act pursuant to Mountaingate

Management Co., LLC’s registration in accordance with SEC guidance. This Brochure describes the business practices of Mountaingate Management Co., LLC, Mountaingate Management Co. II, LLC and the General Partners, which operate as a single advisory business together with KRG Capital Management, L.P. The Adviser is affiliated with the General Partners and performs investment management and administrative functions. In its capacity as the general partner of the relevant Fund, the relevant General Partner has the authority to manage the business and affairs of the relevant Fund, including making all investment decisions, in each case pursuant to the relevant Fund’s limited partnership agreement (the “Partnership Agreement”). The Funds, including Fund I and Fund II, are private equity funds that invest through negotiated transactions in operating entities generally referred to as “portfolio companies.” Mountaingate Capital’s investment advisory services to the Funds, including Fund I and Fund II, consist of identifying and evaluating investment opportunities, negotiating investments, managing and monitoring investments and achieving dispositions for such investments. Investments are made predominantly in non-public companies, although investments in public companies are permitted. Mountaingate Capital’s managing directors, or other personnel of the Adviser will often serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies in which a Fund has invested. The Adviser’s advisory services are detailed in each Fund’s private placement memorandum and limited partnership agreement and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in a Fund participate in the overall investment program but may be excused from a particular investment due to legal, regulatory or other applicable constraints. As of December 31, 2023, Mountaingate Capital managed approximately $904 million in client assets on a discretionary basis. Effective August 14, 2023, Mountaingate Management Co., LLC and Mountaingate Management Co. II, LLC are controlled by Bruce L. Rogers, Stewart A. Fisher, Bennett R. Thompson, Trenton J. Sisson and Eunice S. Cho.