A. Describe your advisory firm, including how long you have been in business. Identify your principal owner(s). Aetos Alternatives Management, LP (“AAM”) is a Delaware limited partnership that provides customized investment advisory services with respect to traditional and alternative investment strategies to institutions, investment companies and high net worth individuals. AAM was originally formed as a Delaware limited liability company known as Aetos Alternatives Management, LLC in October 2001 and began advising and managing customized portfolios on behalf of clients in December 2001. Aetos Alternatives Management, LLC converted to a Delaware limited partnership known as Aetos Alternatives Management, LP in July of 2018. AAM has three limited partners that each own 25% or more of its equity, which are Anne Casscells, Michael Klein and ACLP, LP. B. Describe the types of advisory services you offer. AAM offers asset allocation advice and manager and fund selection and monitoring with respect to a variety of client portfolios, including, among others, absolute return portfolios and broadly diversified portfolios for clients seeking to outsource the management of all of their investment assets (commonly known as “outsourced CIO” portfolios). For absolute return clients, AAM manages separate accounts and investment funds that are invested primarily in hedge funds and other types of alternative investment vehicles (collectively referred to throughout this Form ADV Part 2 as hedge funds). These absolute return offerings include portfolios that consist of hedge funds and managers that incorporate the consideration of sustainability and ESG (environmental, social and governance) factors in their fund portfolios or firms. Outsourced CIO client assets are invested in separate accounts and funds across a broad range of asset classes. AAM offers each of these services on a discretionary and non-discretionary basis. For absolute return clients for whom a separate account is appropriate (typically larger clients seeking greater customization than available in a pooled vehicle), AAM provides a customized investment program for investment directly in alternative investments meeting the investment objectives and risk tolerance of the investor (a “Separate Account”). In constructing a Separate Account portfolio, AAM assesses a client’s investment objectives, liquidity needs and risk tolerance and advises the client with respect to its investment policies, asset allocation and manager selection as well as providing ongoing oversight of managers and consolidated portfolio reporting. For other absolute return clients, AAM provides a customized investment program involving investment in one or more investment companies advised by AAM (the “Aetos Funds”). Each Aetos Fund is designed to provide exposure

to a particular alternative investment strategy, including multi-strategy arbitrage, equity long/short, distressed investments, co-investments and ESG-themed equity long/short strategies. AAM will customize the investment of each client’s account by selecting the mix of Aetos Funds that appropriately meets the investment objectives and risk tolerance of the client. For outsourced CIO clients, AAM works with each client to define the client’s investment objectives and policies, recommends appropriate asset allocations, evaluates and selects investment managers across a diversified range of traditional and alternative asset classes, and performs ongoing monitoring of investment managers and the overall portfolio. In performing these services, AAM takes into account a variety of factors, including the client’s liquidity requirements, risk tolerances, and liabilities and spending requirements, as well as current and anticipated market conditions. AAM also advises clients with respect to direct investments in securities, real assets and other financial instruments in partnership with established hedge fund, private equity and other asset managers when AAM believes that such investments present the opportunity for attractive risk-adjusted returns. Such investments are often co-investments offered by such asset managers in situations where liquidity, size or other limitations prevent the manager from providing all of the necessary capital from one or more of the manager’s investment vehicles. C. Explain how you tailor your advisory services to the individual needs of clients. AAM tailors its advisory services to take into account specific investment criteria. For Separate Account clients, guidelines are typically agreed to at the outset of the relationship defining permissible investments and establishing ranges of exposure to specific types of investments. Examples of the criteria reflected in the guidelines include risk tolerance, liquidity, leverage, investment concentration, and client tax and regulatory considerations. For clients investing in the Aetos Funds, guidelines typically set forth agreed upon ranges of exposure to each Fund. AAM adjusts client investment exposures through allocations to direct investments in hedge funds and other vehicles for Separate Account clients, and for investors in the Aetos Funds, AAM adjusts such exposures through allocations among the different Aetos Funds. D. Do you participate in wrap fee programs? AAM does not participate in wrap fee programs. E. Disclose the amount of client assets you manage on a discretionary basis and the amount of client assets you manage on a non-discretionary basis. Disclose the date “as of” which you calculated the amounts. As of December 31, 2022, AAM managed $2,670,823,414 on a discretionary basis and $4,394,042,773 on a non-discretionary basis.