For purposes of this brochure, the “Adviser” means Fenway Partners, LLC, a Delaware limited liability company, together (where the context permits) with its affiliates that provide advisory services to and/or receive advisory fees from the Funds (as defined below). Such affiliates are under common control with Fenway Partners, LLC, but possess a substantial identity of personnel and/or equity owners with Fenway Partners, LLC. These affiliates are typically formed for tax, regulatory or other purposes in connection with the organization of the Funds, or serve as general partners of the Funds. Fenway Partners, LLC provides investment advisory services to investment vehicles (the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Funds make primarily long-term private equity and equity-related investments, as well as investments in debt instruments. The investment periods of all of the Funds have expired. Although none of the Funds may invest in any new portfolio companies, they may invest follow- on capital in existing portfolio companies. Accordingly, the Adviser’s focus is on maximizing the value of the remaining portfolio company investments versus sourcing new investments. At this point, the Adviser’s advisory services consist of evaluating follow-on investment opportunities, structuring, negotiating and making follow-on investments, managing

and monitoring the performance of the remaining portfolio investments of the Funds and disposing of such investments. The Adviser serves as the investment adviser or general partner to the Funds in order to provide such services. The Adviser may in the future provide investment advisory services to new clients. The Adviser provides investment supervisory services to each Fund in accordance with the organizational documents of such Fund or separate investment and advisory, investment management or portfolio management agreements (each, an “Advisory Agreement”). Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable general partner, and not individually to the investors in the Funds. Services are provided to the Funds in accordance with the Advisory Agreements with the Funds and/or organizational documents of the applicable Fund. Investment restrictions for the Funds, if any, are generally established in the organizational or offering documents of the applicable Fund, Advisory Agreements and/or side letter agreements negotiated with investors in the applicable Fund (such documents collectively, a Fund’s “Organizational Documents”). The principal owners (defined as a person owning 25% or more) of Fenway Partners, LLC are Peter Lamm and Gregg Smart. The Adviser has been in business since 1994. The total regulatory assets under management of the Funds as of December 31, 2023 is $414,000,000, all of which the Adviser manages on a discretionary basis.