9AT: NORTHRIM ADVISER, LLC

other names

NORTHRIM ADVISER, LLC

Adviser Profile

As of Date	03/04/2026
ADV Location	MESA, AZ, United States
Adviser Type - Large advisory firm
Number of Employees	12 100%
of those in investment advisory functions	12 100%
Registration	SEC, Approved, 04/03/2023
Other registrations (10)	SEC, ERA - Withdrawn, 03/03/2023 Arizona, ERA - Withdrawn, 03/03/2023 California, ERA - Withdrawn, 03/03/2023 New York, ERA - Withdrawn, 03/03/2023 Utah, ERA - Withdrawn, 03/03/2023 SEC, ERA - Active, 12/10/2019 Arizona, ERA - Active, 12/10/2019 California, ERA - Active, 12/10/2019 New York, ERA - Active, 12/10/2019 Utah, ERA - Active, 12/10/2019
Former registrations	NORTHRIM ADVISER, LLC

AUM^*	555,985,915 113%
of that, discretionary	555,985,915 113%
Private Fund GAV^*	555,985,915 7%
Avg Account Size	185,328,638 42%
SMA’s	No
Private Funds	4 2
Contact Info	480 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

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count4	GAV$555,985,915

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 OUTFITTER ENERGY MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund239.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV239.6m	AUM239.6m	#Funds2
Adviser PIPER HEARTLAND HEALTHCARE CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund211.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV211.5m	AUM218.3m	#Funds1
Adviser MSP SPORTS CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM565.6m	#Funds-
Adviser BROADLIGHT CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund220.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund66.7m	Total Private Fund GAV287.5m	AUM287.5m	#Funds7
Adviser ANCOR CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund328.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV328.0m	AUM328.0m	#Funds11
Adviser ALTMORE CAPITAL INVESTMENT MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund189.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV189.6m	AUM189.6m	#Funds10
Adviser NINTH ETERNITY ASSET MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund238.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV238.6m	AUM238.6m	#Funds3
Adviser LIONTREE PARTNERS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund134.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV134.1m	AUM134.1m	#Funds11
Adviser GREAT RANGE CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund126.2m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV126.2m	AUM476.2m	#Funds2
Adviser LUMOS CAPITAL GROUP LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund274.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV274.5m	AUM274.5m	#Funds6

Brochure Summary

Overview

Northrim is an investment management firm with its principal place of business located in Mesa, Arizona. The Firm is a Delaware limited partnership founded in October 2019. The Firm is directly and/or indirectly majority owned by Bradley Gulbrandsen. For more information about the Adviser and the principal owners of the Firm, please review Schedule A and Schedule B of the Form ADV Part 1A. Northrim serves as an investment manager and provides investment advisory or portfolio management services on a discretionary basis to privately offered pooled investment vehicles (each, a "Fund" or “Partnership” or, collectively, the "Funds" or “Partnerships”). The Funds are exempt from registration as investment companies under the Investment Company Act of 1940, as amended (the “IC Act”), in reliance upon one or more exclusions or exemptions thereunder. The Funds are typically structured as limited partnerships and each has a general partner (or similar persons or entities, each, a “General Partner” or collectively, the "General Partners"). Each General Partner is an affiliate of Northrim. Northrim provides investment advisory services or portfolio management services to the Funds based on the particular investment objectives and strategies described in the relevant Fund’s confidential subscription document (“Subdoc”), limited partnership

agreement (“LPA”) among the relevant General Partner and the relevant Fund’s limited partners (“Limited Partners”) and other governing documents (referred to collectively as “Offering Documents”). The Adviser, through its clients (i.e. Funds), seeks to achieve superior risk adjusted investment returns for investors by capitalizing on uncompetitive opportunities with lower and middle market companies by acquiring, directly or indirectly, holding for investment, converting and distributing or otherwise disposing of Securities. The Partnership will raise funds from investors and use the funds to invest in capital stock of Northrim Horizon Holdings Corp. (the “Holding Company”), a Delaware C corporation. The Holding Company will, in turn, pay fees and expenses as well as make Portfolio Investments and acquire Portfolio Companies directly or through one or more wholly‐owned subsidiaries. Northrim’s investment management and advisory services or portfolio management services to the Funds are provided pursuant to the terms of the Offering Documents and investors in the Funds cannot obtain services tailored to their individual specific needs. Northrim does not participate in a wrap fee program. As of registration, Northrim manages approximately $185,000,000 in client assets on a discretionary basis. Northrim does not manage any client’s assets on a non‐discretionary basis.

NORTHRIM ADVISER, LLC

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Overview