9AT: PIPER SANDLER FINANCE MANAGEMENT, LLC

Adviser Profile

As of Date	01/25/2025
Registration status	Terminated
ADV Location	MINNEAPOLIS, MN, United States
Contact Info	612 xxxxxxx

AUM^*	290,000,000
of that, discretionary	0
Number of Employees	19 6%
of those in investment advisory functions	6
Private Fund GAV^*	0
Avg Account Size	145,000,000
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

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 FIRST CITIZENS INSTITUTIONAL ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund829.2m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV829.2m	AUM829.2m	#Funds2
Adviser FINANCE OF AMERICA CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM500.0k	#Funds-
Adviser PARTNERS ENTERPRISE CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund13.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV13.5b	AUM13.5b	#Funds2
Adviser ALL BLUE LABS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.3m	#Funds-
Adviser LINQTO INVESTMENT MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM181.2m	#Funds-
Adviser OXFORD REAL ESTATE ADVISORS INC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM116.9m	#Funds1
Adviser HIGH TRAIL CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM296.9m	#Funds-
Adviser MVP MANAGER LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.6b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund10.0m	Other Fund1.0b	Total Private Fund GAV2.6b	AUM2.8b	#Funds201
Adviser SPRING GROWTH PARTNERS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM85.0m	#Funds-
Adviser FOUNDATIONAL RETIREMENT SOLUTIONS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM138.2m	#Funds-

Brochure Summary

Overview

This disclosure document deals solely with the Piper Sandler Finance Middle Market Financing Investments Strategy (the “Middle Markets Financing Investments Strategy” or the “Strategy”). This document provides information about PSFM and its Middle Markets Financing Investments Strategy that should be considered by prospective advisory clients. The Strategy seeks to generate attractive risk-adjusted returns and current income primarily through originating direct investments or seeking opportunistic investments on a secondary basis in (i) senior secured term loans, (ii) unsecured credits, and (iii) preferred abd common equity interests (including warrants). The Strategy focuses primarily on investment opportunities in companies located in the United States and Canada. General Information and Investment Advisory Services Relating to the PSFM Middle Market Financing Investments Strategy PSFM is a Delaware limited liability company that was organized in 2020 and is wholly owned by Piper Sandler Investment Group Inc., a direct holding company

subsidiary of Piper Sandler Companies, a public company listed on the New York Stock Exchange (symbol: PIPR) (Piper Sandler Companies, together, with its affiliates, “Piper Sandler”). PSFM provides the Strategy to one or more pooled investment vehicles that are offered and managed by other investment advisers. PSFM tailors the Strategy to the specific investment objectives and directives of the advisory client and/or the investment adviser with which it is working, consistent with the requirements set forth in the applicable advisory agreement. Advisory clients, and their representatives and investment advisers should refer to the applicable advisory agreement for more complete information on the investment objectives and investment restrictions with respect to any specific advisory arrangement. There is no assurance that any advisory client’s investment objectives will be achieved. Assets Under Management As of December 31, 2023, PSFM had $290 million in regulatory assets under management, on a non- discretionary basis.

PIPER SANDLER FINANCE MANAGEMENT, LLC

PIPER SANDLER FINANCE MANAGEMENT, LLC

PIPER SANDLER FINANCE MANAGEMENT

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

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PIPER SANDLER FINANCE MANAGEMENT, LLC PIPER SANDLER FINANCE MANAGEMENT, LLC PIPER SANDLER FINANCE MANAGEMENT

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

PIPER SANDLER FINANCE MANAGEMENT, LLC

PIPER SANDLER FINANCE MANAGEMENT, LLC

PIPER SANDLER FINANCE MANAGEMENT