General Description of Advisory Firm and Advisory Services
DCP is a Delaware limited partnership, with a principal place of business in Bethesda, Maryland. DCP
is principally owned by Henry Ellenbogen, who is also the managing member of DCP’s general
partner, Durable Capital Partners GP LLC.
DCP provides investment advice to (1) Durable Capital Onshore Fund LP (the “Flagship Onshore
Fund”), Durable Capital Offshore Fund Ltd. (the “Flagship Offshore Fund” and together with the
Flagship Onshore Fund, the “Flagship Feeder Funds”) and Durable Capital Master Fund LP (the
“Flagship Master Fund” and together with the Flagship Feeder Funds, the “Flagship Funds”) and (2)
Durable Capital Opportunities Fund LP (the “Opportunities Master Fund”) and Durable Capital
Opportunities Offshore Fund LP (the “Opportunities Feeder Fund” and together with the
Opportunities Master Fund, the “Opportunities Funds”; the Flagship Feeder Funds and the
Opportunities Feeder Fund are collectively referred to as the “Feeder Funds,” the Flagship Master
Fund and the Opportunities Master Fund are collectively referred to as the “Master Funds” and the
Flagship Funds and the Opportunities Funds are collectively referred to as the “DCP Funds”). The
general partner of the Flagship Master Fund and the Flagship Onshore Fund is Durable Capital
Associates LLC, a Delaware limited liability company (the “Flagship Fund General Partner”), and the
general partner of each of the Opportunities Funds is Durable Capital Opportunities Fund GP LLC,
a Delaware limited liability company (the “Opportunities Fund General Partner” and together with
the Flagship Fund General Partner, the “General Partners”). In addition, in the future, DCP may enter
into co-investment arrangements with third parties whereby DCP provides advisory services to
vehicles that make investments alongside the DCP Funds. The DCP Funds, together with any other
account that DCP may manage, which may include, without limitation, other investment
funds and
separately managed accounts, are collectively referred to as the “Clients”. The “Limited Partners” in
the Flagship Onshore Fund and the Opportunities Funds, the “Shareholders” in the Flagship
Offshore Fund and investors in any other Client, as the case may be, are collectively referred to herein
as the “Investors” where appropriate. Please see Item 10 for discussion of certain conflicts of interest
associated with DCP’s investment management services to more than one Client.
The Adviser tailors its advisory services to the particular needs of each Client, and investment advice
is provided directly to such Client, not individually to the Investors in such Client. The Clients will be
managed pursuant to specific terms in their respective confidential offering memoranda and governing
documents (collectively, “Governing Documents”), which may contain certain restrictions on the
Adviser’s ability to invest in certain securities or types of investments.
This Brochure generally includes information about DCP and its relationships with its Clients and
affiliates. While much of this Brochure applies to all such Clients and affiliates, certain information
included herein may apply only to specific Clients or affiliates.
This Brochure does not constitute an offer to sell, or solicitation of an offer to buy, any securities.
The securities of the DCP Funds are offered and sold on a private placement basis under exemptions
promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and other
exemptions of similar import under U.S. state laws and the laws of other jurisdictions where any
offering may be made. Persons reviewing this Brochure should not construe this as an offer to sell or
solicitation of an offer to buy the securities of any DCP Fund.
DCP does not participate in any wrap fee programs.
As of December 31, 2023, DCP managed, on a discretionary basis, approximately $16,939,969,975 of
regulatory assets under management.