9AT: FIRMAMENT CAP ADVISORS, LLC

FIRMAMENT CAP ADVISORS, LLC

other names

FIRMAMENT CAP ADVISORS, LLC

Adviser Profile

Registration status

Terminated

As of Date	12/28/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	26 -13%
of those in investment advisory functions	18 -10%

AUM^*	277,836,836 -47%
of that, discretionary	277,836,836 -47%
Private Fund GAV^*	0 -100%
Avg Account Size	138,918,418 -47%
SMA’s	No
Private Funds	0 2
Contact Info	212 xxxxxxx
Websites

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

Reported AUM

1B 857M 714M 571M 429M 286M 143M

2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Brochure Summary

Overview

Firmament CAP Advisors LLC (“FCAP”) was formed in 2022 and its principal office and place of business is located in New York, New York. FCAP is an SEC registered investment adviser. Firmament Opportunities Advisors, LLC (“FO”, and together with FCAP, the “Adviser”) was formed in 2021 and is registered with the SEC as a relying adviser. The Adviser, either directly or through controlled entities, provides investment advisory and administrative services to private investments fund(s) (the “Clients”, “Funds”, “FCAP Funds” or “FO Funds”), which are privately placed. The Adviser invests primarily in senior debt securities in middle market private companies. The Adviser will generally target companies with revenue between $10 million and $200 million and EBITDA between $3 million and $25 million. In addition, the Adviser plans to invest in net asset value lending by providing senior facilities to middle market private equity funds. FCAP and FO are affiliated with several other companies that serve as general partners/investment managers and/or administrators (collectively, “Firmament”) that are responsible for running certain day-to-day operations of the Funds. Firmament is not registered with the SEC and predominantly manages private funds as Small Business Investment Companies (“SBIC Funds”) that are licensed and regulated by the Small Business Administration (“SBA”) or are otherwise exempt from registration with the SEC. Advantage Capital Holdings LLC (“ACH”) indirectly

owns a non-controlling, minority equity interest in the Advisers. ACH is the parent company of Advantage Capital Management LLC (“A- CAP Management”), an SEC registered investment adviser; the following insurance companies: Atlantic Coast Life Insurance Company, Sentinel Security Life Insurance Company, Haymarket Insurance Company, Jazz Reinsurance Company, and Southern Atlantic Reinsurance Company; and Kopentech Capital Markets LLC, a registered broker-dealer (collectively, “A-CAP”). The Adviser operates independently of the A-CAP group of companies and is managed by the Firmament Partners, Christopher D. Smith and Parris A. Boyd, and other senior management personnel. Throughout this brochure, we disclose potential conflicts of interest. We encourage clients and potential clients to review our policies and procedures and inquire directly with us about such conflicts. Each Adviser provides advisory services to its Clients in accordance with the investment objectives, investment guidelines and restrictions set forth in each Fund’s organizational and offering documents and as further described below under Item 8. The general investment guidelines and restrictions applicable are negotiated and fixed at the time that the particular Fund is formed, although there may be subsequent revisions with the consent of the Fund’s investors. As of December 31, 2023, the Adviser managed approximately $526,231,937 in regulatory assets under management, all on a discretionary basis.