9AT: SANTIAGO CAPITAL, LLC

other names

SANTIAGO CAPITAL, LLC

Adviser Profile

As of Date	03/24/2025
Adviser Type - Large advisory firm
Number of Employees	1
of those in investment advisory functions	1
Registration	SEC, Approved, 11/08/2019

AUM^*	181,830,065 15%
of that, discretionary	181,830,065 15%
Private Fund GAV^*	1,097,662 -84%
Avg Account Size	4,040,668 -3%
% High Net Worth	93.48% 1%
SMA’s	Yes
Private Funds	3
Contact Info	415 xxxxxxx
Websites

Client Types

- High net worth individuals
- Pooled investment vehicles

Advisory Activities

- Portfolio management for individuals and/or small businesses
- 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$1,097,662

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 325 CAPITAL	Hedge Fund55.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV55.3m	AUM270.5m	#Funds3
Adviser ONE68 GLOBAL CAPITAL, LLC	Hedge Fund500.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV500.0m	AUM500.0m	#Funds3
Adviser GLAXIS CAPITAL MANAGEMENT, LLC	Hedge Fund131.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV131.6m	AUM162.1m	#Funds1
Adviser X CUBED CAPITAL MANAGEMENT LLC	Hedge Fund140.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV140.7m	AUM170.4m	#Funds2
Adviser COINBASE ASSET MANAGEMENT, LLC	Hedge Fund191.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV191.1m	AUM733.7m	#Funds6
Adviser SYNTAX RESEARCH, INC.	Hedge Fund60.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV60.9m	AUM196.6m	#Funds1
Adviser ORBIS INVESTMENT MANAGEMENT (U.S.), L.P.	Hedge Fund124.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV124.6m	AUM124.6m	#Funds1
Adviser CROWN MANAGEMENT ADVISORS, LLC	Hedge Fund137.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV137.2m	AUM137.2m	#Funds2
Adviser BISLETT MANAGEMENT, LLC	Hedge Fund148.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV148.0m	AUM148.0m	#Funds1
Adviser P.A.W. CAPITAL PARTNERS, LP	Hedge Fund93.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV93.6m	AUM168.2m	#Funds1

Brochure Summary

Overview

A. Description of the Advisory Firm Santiago Capital, LLC, a Delaware limited liability company formed in November of 2011, provides investment advisory services to Private Funds (as defined below) and separately managed accounts. Brent Johnson is the principal owner and managing member of Santiago. B. Types of Advisory Services Santiago serves as general partner and investment adviser to multiple private investment funds (the “Private Funds”), which are listed in our Form ADV Part 1, and separately managed accounts (“SMAs”) managed by Santiago. Pursuant to certain Private Funds’ offering memoranda, limited partnership agreement, memoranda and articles of association and subscription documents (“Offering Documents”), the investment objectives are to generate capital appreciation by investing across the fixed income, currency, commodity, and equity markets. With respect to certain other Private Funds, the investment objective is to generate capital appreciation by providing investors with

the exposure to the knock-on effects of an appreciating US Dollar. Certain Private Funds are offering limited partnership interests, whereas certain other Private Funds are offering participating shares (collectively the “Interests”) to certain qualified investors as described in response to Item 7, below (such investors or prospective limited partners are referred to herein as “Investors”). C. Tailored Services and Imposed Restrictions Advisory services are tailored to achieve Private Fund and SMA investment objectives. Generally, Santiago has the discretionary authority to select which and how many securities and other instruments to buy or sell without consultation with the Private Fund, SMA or their Investors. D. Wrap Fee Programs Santiago does not participate in wrap fee programs. E. Assets under Management Santiago has the following assets under management: Discretionary Amounts: Non-Discretionary Amounts: Date Calculated: $166,006,700 $0 December 31, 2023

SANTIAGO CAPITAL, LLC

Adviser Profile

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