The Firm is a Delaware limited partnership and an investment adviser located in New York, New York. The Adviser provides investment advisory services to pooled investment vehicles and separately managed accounts (the “Clients” or the “Funds”). The Funds make or made investments primarily in private equity, equity-related, debt and other securities in the infrastructure sector in accordance with the Funds’ investment guidelines, manage businesses focusing in the infrastructure sector and make or made other investments related to their transportation infrastructure platform companies. All of the Funds are exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Sections 3(c)(1) or 3(c)(7) of the Investment Company Act or by virtue of accepting only foreign investors. Interests in the Funds are privately offered only to qualified investors. The Firm is responsible for carrying out the day-to-day investment activities of the Funds and certain other Advisory Affiliates are responsible for serving as general partners (or similar managing fiduciaries) of the Funds (the “General Partners”). The Adviser was established in 2023. The Firm is a strategic partnership of Corsair Capital, L.P. and (together with its affiliates, “Corsair”) with Investcorp S.A. (together with its subsidiaries, “Investcorp”), whereby affiliates of Corsair and Investcorp will each own 50% of the Adviser and the general partner of the Adviser. Corsair Capital, LP is controlled by D.T. Ignacio Jayanti through its general partner. The Funds invest or have invested primarily in private equity, equity-related, debt and other securities and obligations (including preferred equity, subordinated debt or similar securities) in the infrastructure sector.

The Funds may also generally invest in derivative financial instruments and may utilize leverage in connection with their investment strategies, subject to certain limitations. Investment in portfolio companies will, in certain circumstances, be made indirectly by investing through partnerships or other entities (or by causing certain investors to invest through affiliated partnerships (or other entities)). The investment guidelines of each Fund are memorialized in the applicable Fund’s governing documents. The Adviser generally utilizes similar strategies for all of the Funds. However, the Adviser will tailor its advisory services to the specific needs of a Fund when deemed necessary. Investment advice is provided directly to each Fund and not individually to the investors of each Fund. The Funds own investments that operate in the infrastructure sector in the United States, Canada, Europe and Australia. The Adviser was previously a relying adviser of Corsair Capital LLC. The Adviser has been assigned certain investment advisory agreements from and entered into sub-advisory agreements with Corsair Infrastructure Partners, L.P. (“CIP”); Investcorp has a 40% economic interest in CIP. However, in accordance with common industry practice, a Fund or its general partner may from time to time enter into a “side letter” or similar agreement with an investor pursuant to which the Fund or its general partner grants the investor specific rights, benefits or privileges that are not generally made available to all investors. See “Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss” below for more details. As of December 31, 2023, the Adviser managed $2,455,433,945 in assets on a discretionary basis, and $1,244,487,654 in assets on a non-discretionary basis.