9AT: KEYFRAME CAPITAL PARTNERS, L.P.

other names

KEYFRAME CAPITAL PARTNERS, L.P.
RAPAPORT THESIS DRIVEN CAPITAL, L.P.

Adviser Profile

As of Date	08/14/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	9 13%
of those in investment advisory functions	9 13%
Registration	SEC, Approved, 10/18/2019

AUM^*	772,442,000 13%
of that, discretionary	692,885,000 17%
Private Fund GAV^*	692,905,000 -10%
Avg Account Size	55,174,429 5%
SMA’s	No
Private Funds	18 6
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count12	GAV$692,905,000
Fund TypePrivate Equity Fund	Count6	GAV$

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 Fund818.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV818.4m	AUM1.2b	#Funds14
Adviser SPRING LAKE ASSET MANAGEMENT, INC.	Hedge Fund1.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.1b	AUM1.1b	#Funds3
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 ONE FIN CAPITAL MANAGEMENT LP	Hedge Fund867.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV867.8m	AUM867.8m	#Funds3
Adviser STANDARD FAMILY OFFICE, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund1.0b	Total Private Fund GAV1.0b	AUM1.0b	#Funds2
Adviser HERCULES ADVISER LLC	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM1.2b	#Funds7
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-	AUM581.7m	#Funds-
Adviser CENTERBOOK PARTNERS LP	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.3b	AUM2.4b	#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 PARTHENON LLC	Hedge Fund17.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV17.8m	AUM1.2b	#Funds1

Brochure Summary

Overview

Keyframe Capital Partners, L.P. is a recently formed investment advisory firm which seeks to provide investment management services to single-investor investment vehicles which are funded by institutional investors or high net worth investors. Our firm also provides discretionary and non- discretionary sub-advisory services to Cyrus Capital Partners, L.P., a federally registered investment adviser, in connection with management of certain positions held by its private funds. Cyrus Capital Partners, L.P. provides a suite of infrastructure support services to the firm, including trading execution, back office services and compliance administration. The principal owner of the firm is John Rapaport. Our firm provides discretionary and non-discretionary investment advisory services to our clients. Our investment

strategies entail primarily investing across the capital structure of highly levered and financially distressed companies. We seek attractive absolute and relative returns that are not correlated to the general equity and fixed income markets, while also focusing on preserving capital. Fundamental value and credit analysis combined with our firm’s experience with event catalysts and processes specific to leveraged and financially distressed companies drive our investment process. Though our firm utilizes a similar strategy for most of our clients, we do occasionally tailor our advisory services to certain of our clients for legal and tax purposes. Our firm does not participate in wrap fee programs. As of January 31, 2024, our firm had discretion over $684,447,000 in regulatory assets under management.

KEYFRAME CAPITAL PARTNERS, L.P.

Adviser Profile

Details

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview