9AT: SILVER CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	03/25/2026
Registration	SEC, Approved, 06/01/2000
Contact Info	914 xxxxxxx

AUM^*	50,124,280 -3%
of that, discretionary	50,124,280 -3%
Number of Employees	2
of those in investment advisory functions	1
Private Fund GAV^*	7,702,462 25%
Avg Account Size	1,193,435 0%
% High Net Worth	97.62% 2%
SMA’s	Yes
Private Funds	1

Adviser Type

- Mid-sized advisory firm

Client Types

- High net worth individuals
- Pooled investment vehicles

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

	Count	GAV
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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 CARMIKA PARTNERS LLP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM72.6m	#Funds-
Adviser GRUENSTEIN INVESTMENTS LLC	Hedge Fund20.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.5m	AUM61.5m	#Funds1
Adviser DILATION CAPITAL MANAGEMENT LP	Hedge Fund456.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV456.7m	AUM228.8m	#Funds3
Adviser GRAVITY CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM94.0m	#Funds-
Adviser OTG ASSET MANAGEMENT, LTD.	Hedge Fund66.9k	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV66.9k	AUM63.8m	#Funds1
Adviser CW INSTITUTIONAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM32.8m	#Funds-
Adviser KDHB V CAPITAL MANAGEMENT, LLC	Hedge Fund54.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV54.8m	AUM54.8m	#Funds1
Adviser POLPO CAPITAL MANAGEMENT LLC	Hedge Fund209.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV209.5m	AUM299.5m	#Funds2
Adviser NEWLANDS INVESTMENT MANAGEMENT PTE LTD.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM41.3m	#Funds-
Adviser WALNUT LEVEL CAPITAL LLC	Hedge Fund31.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV31.2m	AUM119.2m	#Funds3

Brochure Summary

Overview

A. Silver Capital Management, LLC (“Advisor,” “we” or “us”) is a Delaware limited liability company that was formed May 18, 2000. We are principally owned by Bruce S. Silver. SCM Management, LLC (“SCM Management”), a Delaware limited liability company and an affiliate of the Advisor, is a “relying adviser,” as defined in the Glossary to Form ADV, with respect to the Advisor. SCM Management is also principally owned and controlled by Mr. Silver. The description of the Advisor’s business and activities throughout this brochure includes the business and activities of SCM Management. B. We provide discretionary investment advice to private investment funds and certain separately managed accounts. We generally invest and trade on behalf of our clients in a wide variety of securities and financial

instruments, domestic and foreign, of all kinds and descriptions, whether publicly traded or privately placed. C. We generally do not permit investors in the private investment funds we manage to impose limitations on the investment activities described in the offering documents for those funds. Under certain circumstances, we will contract with a client to adhere to limited risk and/or operating guidelines imposed by the client. We negotiate such arrangements on a case by case basis. (See Item 16 “Investment Discretion.”) D. We do not participate in wrap fee programs. E. As of February 29, 2024, we managed approximately $51,465,327 on a discretionary basis. This amount is based on unaudited information. We currently do not manage any assets on a non-discretionary basis.

SILVER CAPITAL MANAGEMENT, LLC

SILVER CAPITAL MANAGEMENT, LLC

SCM MANAGEMENT, LLC (RELYING ADVISER)

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview

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SILVER CAPITAL MANAGEMENT, LLC SILVER CAPITAL MANAGEMENT, LLC SCM MANAGEMENT, LLC (RELYING ADVISER)

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview

SILVER CAPITAL MANAGEMENT, LLC

SILVER CAPITAL MANAGEMENT, LLC

SCM MANAGEMENT, LLC (RELYING ADVISER)