9AT: RRA CAPITAL

other names

RRA CAPITAL
RRA INVESTMENT MANAGEMENT, LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 07/29/2021
Other registrations (1)	Arizona, ERA - Withdrawn, 06/27/2021
ADV Location	PHOENIX, AZ, United States
Contact Info	602 xxxxxxx
Websites

AUM^*	663,255,513 53%
of that, discretionary	663,255,513 53%
Private Fund GAV^*	500,000,000
Avg Account Size	221,085,171 2%
SMA’s	No
Private Funds	3 3

Adviser Type

- Large advisory firm

Number of Employees 31 24%

of those in investment advisory functions 23 28%

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

SEC Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count1	GAV$500,000,000
Fund TypeReal Estate Fund	Count2	GAV$

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 WHITE ROCK OIL & GAS HOLDINGS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund205.1m	Total Private Fund GAV205.1m	AUM205.1m	#Funds4
Adviser PIEDMONT CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund118.9m	Total Private Fund GAV118.9m	AUM495.6m	#Funds1
Adviser RIVO ALTO CAPITAL FUNDING LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM27.6m	#Funds-
Adviser RENAISSANCE VENTURE CAPITAL MANAGEMENT, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund292.7m	Total Private Fund GAV292.7m	AUM292.7m	#Funds5
Adviser LOCUS INVESTMENT GROUP, LTD.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund29.2m	Total Private Fund GAV29.2m	AUM483.7m	#Funds1
Adviser HUDSON VALUE PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund4.9m	Total Private Fund GAV4.9m	AUM678.3m	#Funds1
Adviser LION CAPITAL ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM94.8m	#Funds-
Adviser WEMBLEY STRATEGIC ADVISORY LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund27.6m	Total Private Fund GAV27.6m	AUM695.2m	#Funds9
Adviser PIPER SANDLER ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM364.6m	#Funds-
Adviser DARBY INTERNATIONAL CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund440.9m	Total Private Fund GAV440.9m	AUM448.4m	#Funds4

Brochure Summary

Overview

RRA Investment Management, LLC (“RRA” or the “Adviser”) was founded in 2013. RRA is wholly owned by KCS Holding Company, LLC. KCS Holding Company, LLC is owned principally by RRA’s three principals: Charles Dunlap through Kentfield Holdings, LLC, John Dunlap through Chosin Holdings, LLC, and Marc Grayson through Solano Holdings, LLC. RRA provides investment advisory services to pooled investment vehicles (each, a “Partnership” and collectively, “Partnerships”) that are not registered under the Investment Company Act of 1940 and whose securities are not registered under the Securities Act of 1933. The Partnerships primarily acquire and/or originate short-term, senior and second position loans and preferred equity investments on middle-market real estate assets throughout the United States. RRA provides advisory services to the Partnerships on a discretionary basis according to the objectives and investment policies described in each Partnership’s respective offering and/or operational documents (“Offering Documents”) provided to each Investor in the Partnership (“Investor”). RRA, along with each Partnership’s general partner and affiliates (as described in Item 10 of this Brochure), identifies investment opportunities for, and participates in the origination, asset management, loan servicing, disposition of investments of, each Partnership. Except as described in certain side letters, RRA does not tailor its advisory services to

the individual needs of Investors, and Investors may not impose restrictions on investing in certain securities or types of investments. RRA currently provides investment advisory services to the following Partnerships: RRA Real Estate Debt Fund II, L.P. (the “Real Estate Debt Fund II”) and RRA Real Estate Debt Fund III, L.P. (the “Real Estate Debt Fund III”). The general partners of the Partnerships are RRA Real Estate Debt Fund II GP, LLC and RRA Real Estate Debt Fund III GP, LLC (herein the “General Partner(s)”, respectively), each Delaware limited liability companies. The Partnerships will invest in a subsidiary entity (the “REIT Subsidiary”) that qualifies as a real estate investment trust (“REIT”) for federal income tax purposes. In addition to entering into sourcing and servicing agreements with the Partnerships, RRA and its affiliates also enter into sourcing and servicing agreements with insurance companies and asset manager clients to originate and service commercial real estate loans on a non-discretionary, non-advisory basis (herein, “Sourcing and Servicing Clients”). The target loan type and risk profiles identified for each of the Sourcing and Servicing Clients are distinct. The Adviser maintains investment allocation policies and procedures to ensure all investment opportunities are allocated in a fair and equitable manner. As of December 31, 2023, RRA managed approximately $432,818,873 in client assets, all on a discretionary basis.

RRA CAPITAL

Adviser Profile

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Brochure Summary

Overview