9AT: ALTERNATIVE ACCESS FUNDS, LLC

ALTERNATIVE ACCESS FUNDS, LLC

ALTERNATIVE ACCESS FUNDS, LLC

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Adviser Profile

As of Date	02/04/2026
Registration	SEC, Approved, 07/23/2020
Other registrations (2)	SEC, ERA - Withdrawn, 06/23/2020 California, ERA - Withdrawn, 06/23/2020
Former registrations	ALTERNATIVE ACCESS FUNDS, LLC
ADV Location	EL SEGUNDO, CA, United States
Contact Info	323 xxxxxxx
Websites

AUM^*	42,500,000 55%
of that, discretionary	42,500,000 55%
Number of Employees	1
of those in investment advisory functions	1
Private Fund GAV^*	0
Avg Account Size	42,500,000 55%
SMA’s	No
Private Funds	0

Adviser Type

- An investment adviser (or subadviser) to an investment company

Client Types

- Investment companies

Advisory Activities

- Portfolio management for investment companies

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

43M 36M 30M 24M 18M 12M 6M

2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

A. AAF is an investment adviser with its principal place of business in El Segundo, CA. The firm is owned by Peter Coppa. AAF provides discretionary investment advisory services as a sub-adviser to an open-end management investment company registered under the Investment Company Act of 1940, known as the AXS First Priority CLO Bond ETF (the “ETF”), a series of the Investment Managers Series Trust II. In the future AAF may provide services to additional investment vehicles or managed accounts that AAF or its affiliates may manage. The ETF may be identified in this Brochure as AAF’s “Client” or “Clients”. B. The ETF is an actively managed strategy, and AAF seeks to achieve the ETF’s investment objective by investing principally in structured credit investments. The Firm may also trade and invest in preferred stocks, limited partnership interests, fixed income, warrants, equity derivatives, convertible securities, debt securities, listed and unlisted options, shares of beneficial interest, convertible

preferred obligations, rights, options, puts and calls with respect to the foregoing, and, in the future, commodity interests (futures, options on futures, certain swaps subject to regulation by the CFTC), other swaps and derivatives of any kind. The investment strategy of the ETF is set forth in the prospectus of the Fund. C. AAF currently tailors its advisory services to the individual needs of the ETF. The ETF has a defined investment strategy as outlined in the ETF’s prospectus, and the Firm is bound by agreement to invest in accordance with this strategy. In the future and as determined on a case- by-case basis, separately managed account Clients (if any) may be able to place investment restrictions on investing in certain securities or other assets and AAF may tailor its advisory services to the individual needs of any such Clients. D. Not applicable. E. As of December 31, 2023, AAF had discretionary regulatory assets under management of approximately $ 12,441,740.50.