CROSSPLANE CAPITAL MANAGEMENT, LP other names

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Adviser Profile

As of Date:

03/27/2024

Adviser Type:

- Large advisory firm


Number of Employees:

17

of those in investment advisory functions:

11


Registration:

SEC, Approved, 7/19/2021

Other registrations (2)
Former registrations

CROSSPLANE CAPITAL MANAGEMENT, LP

AUM:

797,126,959 -6.56%

of that, discretionary:

797,126,959 -6.56%

Private Fund GAV:

797,126,959 -6.56%

Avg Account Size:

199,281,740 -6.56%


SMA’s:

NO

Private Funds:

4

Contact Info

214 xxxxxxx

Websites :
Client Types:

+

Advisory Activities:

+

Compensation Arrangments:

+

Reported AUM

Discretionary
Non-discretionary
853M 731M 609M 487M 366M 244M 122M
2021 2022 2023

Recent News



Private Funds Structure

Fund Type Count GAV
Private Equity Fund 4 $797,126,959

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Private Funds



Employees




Brochure Summary

Overview

FIRM DESCRIPTION AND OVERVIEW Crossplane Capital Management, LP, a Delaware limited partnership and private equity fund manager (“Crossplane,” the “Firm,” the “Advisor,” “we,” “our,” or “us”), was formed in 2018 with its principal place of business in Dallas, TX. We provide investment advisory services to pooled investment vehicles that are exempt from registration under the Investment Company Act of 1940, as amended (the “Company Act”), and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”) (such pooled investment vehicles, the “private funds”). The Firm currently manages Crossplane Capital Fund, L.P. ( “Fund I”), Crossplane Capital Fund II, L.P. ( “Fund II”) (Fund I and Fund II, each a “Fund”; collectively the “Funds”), Crossplane Capital Rentalco Co-Invest, L.P., a related co-investment vehicle (“Rentalco Co-Invest”), and Crossplane Capital Rental Co-Invest II, L.P., a related co- investment vehicle (“Rentalco II Co-Invest”) (Rentalco Co-Invest and Rentalco Co-Invest II together, the “co- investment vehicles”). The Funds and the co-investment vehicles are each structured as a Delaware limited partnership. The Firm expects to serve as investment advisor for other private funds and co-investment vehicles in the future (the Funds, Rental Co-Invest, Rental Co-Invest II, each private fund and each co-investment vehicle, a “Client”, or, collectively, the “Clients”). Our investment advice is provided to each Client taking into account the investment objectives, strategies, guidelines, restrictions and limitations described in the applicable offering and/or Governing Documents of such Client, and the information in this Brochure is qualified in its entirety by the information set forth in such documents. We do not act as general or limited partner of any Client. Instead, CPC Fund GP, LP, a Delaware limited partnership and affiliate of Crossplane’s, serves as the general partner of Fund I, Rentalco Co-Invest, and Rentalco Co-Invest II. CPC Fund II GP, LP, a Delaware limited partnership and affiliate of Crossplane’s, serves as the general partner of Fund II (CPC Fund GP, LP and CPC Fund II GP, LP together, the “General Partners”). The General Partners rely on our investment adviser registration instead of separately registering as investment adviser with the Securities and Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). See Item 10. Except as the context otherwise requires, any reference to “we,” “us,” or “our” in this document includes Crossplane and any affiliates relying on our registration. PRINCIPAL OWNERS Brian F. Hegi and Benjamin D. Eakes are the managing partners (the “Partners”) and managing members of Crossplane. Crossplane is controlled by its general partner, Crossplane Management GP, LLC, a Delaware limited liability corporation owned and controlled by the Partners. The General Partners are controlled by their respective general partners, CPCF GP, LLC and CPCF II GP, LLC, each of which is owned and controlled by the Partners. TYPES OF ADVISORY SERVICES
We provide investment advisory services to our Clients, which generally make controlling equity investments in one or more industrial business services, niche manufacturing or value-added distribution businesses. Even though investment decisions with respect to our Clients are ultimately made by their respective general partners, we provide investment advisory and supervisory services with respect to each Client in accordance with the investment objectives, policies and guidelines set forth in such Client’s offering memorandum (if applicable), limited partnership agreement, investment management agreement, subscription agreement, and/or other relevant agreements (“Governing Documents”). As described in Item 10 below, the General Partners are subject to our supervision and control with respect to any and all investment advisory functions provided thereby. In general, we only provide advice with respect to investments (either directly or indirectly) in the securities of a limited number of private operating companies, including underperforming companies, companies in out-of-favor industries and companies with incomplete management teams. We do not provide advice with respect to any investments other than private equity investments. Information about each Client is set forth in the applicable offering and/or Governing Documents. An investment in a Crossplane Fund or co-investment vehicle does not and shall not create an advisory relationship between such investor and us. The Firm does not have a separate client relationship with investors within the Funds or co-investment vehicles, which are referred to throughout this manual as “Limited Partners” or “Investors”. See Item 8 below. The co-investment vehicles were each established as a single purpose entity for a group of investors in Fund I to invest on a side-by-side basis with Fund I in a specific portfolio company. Crossplane expects to establish other co- investment vehicles as needed for future portfolio companies. Rentalco Co-Invest, Rentalco Co-Invest II, and any future co-investment vehicles raised alongside Fund I or other Crossplane funds will generally buy and sell their interests in an applicable portfolio company at the same time and on the same terms as the Funds, subject to differences arising due to tax, regulatory or legal considerations. See Item 11 below. INVESTMENT RESTRICTIONS We provide investment advice to each Client in accordance with the investment objectives, policies and guidelines set forth in the applicable offering and/or Governing Documents, and not in accordance with the individual needs or objectives of any particular investor. Investors generally are not permitted to impose restrictions or limitations on the management of a fund or co-investment. Notwithstanding the foregoing, the General Partner of each Client has entered into side letter agreements or other arrangements with one or more investors in each entity that alter, modify or change the terms of the interests held by such investors. WRAP FEE PROGRAMS We do not participate in wrap fee programs. ASSETS UNDER MANAGEMENT As of December 31, 2023, we had approximately $797 million in regulatory assets under management. All of these assets were managed on a discretionary basis.