The Adviserhasbeeninbusinesssince2003andprovidesinvestmentadvisoryservicesto private equity partnerships (as described below) in the acquisition and management of a portfolioofloans,bonds,equities,royaltyinterestsandotherinstrumentsinthehealthcare sector(collectively,“PortfolioInvestments”).(Suchprivateequitypartnershipsarereferredto asa“Fund”orcollectivelyas“Funds”.)AsofDecember31,2023theAdviserhadregulatory assetsundermanagementof$2.96billion,allofwhichisonadiscretionarybasis.
AnumberofaffiliatesoftheAdviserarethegeneralpartnersinseveralFunds;pleaseseeItem 10 for more information regarding this relationship. The Adviser provides investment management services to the Funds in building and managing a portfolio of Portfolio Investments. This portfolio of investments covers a range of market segments, including biopharma, medical devices, tools, diagnostics, pharmaceuticals, and services. The Adviser may,basedonportfoliomanagementobjectivesforaparticularaccount,investinassetsother thanPortfolioInvestments.Inaddition,theFundsmayemployleverageinconnectionwithany investmentstrategyintheformofborrowingswhichmaybelimitedrecoursetocertainassets ofaFundorfullrecoursetoallofaFund’sassets,aspermittedundertherelevantpartnership agreement.
TheAdviser’sinvestmentteamcurrentlycomprises23professionalsincludinginternallegal, accounting and compliance personnel, as well as professionals employed by Piedmont Evergreen(asdefinedbelow).PiedmontEvergreenLLC(“PiedmontEvergreen”),anaffiliateof theAdviser,isbasedinDorado,PuertoRicoandisregisteredasarelyingadviseroftheAdviser withtheSEC.PiedmontEvergreenemploysNathan“Nate”Hukill.Membersoftheinvestment committeeinclude:NateHukill,LukeDüster,DavidCarter,andScottLi.Belowoutlineseach investmentcommitteemember’spositionandrole/responsibility.
Name Role / Responsibility Nate Hukill Managing Partner Partner, Piedmont Evergreen
• Strategic direction of CRG
• Day-to-day management and oversight of investments, investor relations and finance Luke Düster CIO and Partner
• Chief Investment Officer (“CIO”)
• Management of the investment team and process
• Portfolio management and investment structuring David Carter Partner
• Head of tools & diagnostics vertical Scott Li Partner
• Head of healthcare services and specialty pharma vertical MoreinformationabouttheseandotherinvestmentpersonnelcanbefoundintheBrochure Supplement (Form ADV Part 2B). Nate Hukill is also the principal manager of the Adviser.
More information regarding

ownership of the Adviser can be found in Form ADV Part 1, ScheduleA.
TheAdvisermay,fromtimetotime,establish,onatransaction-by-transactionbasis,pooled investmentvehiclesthroughwhichcertainpersonsmayinvestalongsideoneormoreFunds in a particular investment opportunity (each such vehicle a “Co-Investment Vehicle”). As a general matter, each such Co-Investment Vehicle exits its investment in the particular investmentopportunityatsubstantiallythesametime(andonsubstantiallythesameterms) astheapplicableFund(s)thatarealsoinvestedinthatinvestmentopportunity.Pleaseseeitem 11 for a discussion of the allocation of co-investment opportunities and certain related conflictsofinterest.
Additionally,theAdviseranditsaffiliatesmayalsoorganizeandserveasgeneralpartneror investmentmanager(orinananalogouscapacity)tocertainother“feeder”vehicles(eachsuch vehicle, a “Feeder Vehicle”) organized to invest exclusively in a Fund and/or alternative investment vehicles (each, an “Alternative Investment Vehicle”) organized to address, for example,specifictax,legal,business,accountingorregulatory-relatedmattersthatmayarise inconnectionwiththetransactionortransactions.
TheAdviser’sadvisoryservicesconsistofinvestigating,identifyingandevaluatinginvestment opportunities,structuring,negotiatingandmakinginvestmentsonbehalfofFunds,managing andmonitoringtheperformanceofsuchinvestmentsanddisposingofsuchinvestments.The Adviser may serve as the investment adviser and the Adviser or an affiliate may serve as generalpartnertotheFundsinordertoprovidesuchservices.
TheAdviserprovidesinvestmentsupervisoryservicestoeachFundpursuanttoinvestment managementorportfoliomanagementagreements(eachan“AdvisoryAgreement”).
The terms of the advisory services to be provided to a Fund, including any restrictions on investments of certain types of securities, are established by the Adviser, as modified by negotiationswithinvestorsintheapplicableFund(generallyreferredtohereinas“investors” or “limited partners”), and set forth in such Advisory Agreement, offering documents, organizational documents, operating agreement and/or other documentation received by eachinvestorpriortotheinvestmentinsuchFund.OnceinvestedinaFund,theinvestors cannotimposerestrictionsonthetypesofsecuritiesinwhichsuchFundmayinvest.
Muchofthedisclosureinthisbrochureisgeneralinnatureand,becausemostoftheAdviser’s clientsareFunds,issubjecttothespecifictermsandconditionsofaFundinvestmentincluded intheFund’sorganizationalandofferingdocuments.Inaddition,investorsintheFundsare generallynotclientsoftheAdviserunlesstheyhaveaseparateadvisoryrelationshipwiththe Adviser.