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Adviser Profile

As of Date 04/01/2024
Adviser Type - Large advisory firm
Number of Employees 20 5.26%
of those in investment advisory functions 14 7.69%
Registration SEC, Approved, 03/17/2005
AUM* 852,395,109 -14.99%
of that, discretionary 852,395,109 -14.99%
Private Fund GAV* 611,664,779 -47.82%
Avg Account Size 56,826,341 -9.32%
SMA’s No
Private Funds 15 1
Contact Info 612 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Selection of other advisers

Compensation Arrangments

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

Recent News

Reported AUM

Discretionary
Non-discretionary
1B 943M 786M 629M 471M 314M 157M
2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count1 GAV$40,094,401
Fund TypeVenture Capital Fund Count7 GAV$386,458,306
Fund TypeOther Private Fund Count7 GAV$185,112,072

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Brochure Summary

Overview

North Sky Capital, LLC is a Delaware limited liability company and is an investment adviser that registered with the SEC on January 14, 2005. North Sky Capital was founded in 2000 as the private equity fund of funds team within Piper Jaffray (now known as Piper Sandler). The entire business was spun out in 2010 and became fully independent. North Sky Capital is 100% independently owned and managed by its members. Scott Barrington and Daniel Zouber invested growth capital in North Sky Capital, LLC in 2023. There are no changes to the management of North Sky Capital as a result of this investment. Scott Barrington remains the Managing Member of North Sky Capital. North Sky Capital is 100% employee owned. North Sky Capital focuses on private equity by making investments for funds of funds in professionally managed venture capital, buyout, ESG / impact and infrastructure funds and direct funds in portfolio companies across the venture capital, buyout, ESG / impact and infrastructure sectors. North Sky Capital supplies investment management and portfolio supervisory services to private equity funds of funds and direct funds sponsored by North Sky Capital. North Sky Capital-sponsored funds of funds and direct funds are referred to in this brochure as the “North Sky Capital Funds.” North Sky Capital’s general investment strategy with respect to the North Sky Capital- sponsored funds of funds is to seek to construct diversified private equity portfolios through the selection and purchase of limited partnership interests in professionally managed private equity funds. We acquire fund investments for client portfolios principally through direct subscriptions to private equity partnerships (and/or other limited liability vehicles) and/or privately negotiated transactions in the secondary market. North Sky Capital’s general investment strategy with respect to the North Sky Capital- sponsored direct funds is to seek to construct diversified private equity portfolios through the selection and purchase of securities in portfolio companies across the venture capital, buyout, ESG / impact and infrastructure sectors. We acquire fund investments for direct fund client portfolios principally through direct (equity or debt) investments in portfolio companies. North Sky Capital’s Sustainable Infrastructure Funds invest in a diversified portfolio of clean energy infrastructure projects and entities related thereto, including the developers of such projects. North Sky Capital tailors its advisory services to the specific investment objectives and restrictions of each North Sky Capital Fund pursuant to the applicable investment guidelines and restrictions set forth in the relevant confidential private placement memorandum, limited partnership agreement, investment management agreement and other governing documents pertaining to such North Sky Capital Fund (collectively, the “Governing Documents”). Investors and prospective investors in each North Sky Capital Fund should refer to the Governing Documents of the applicable North Sky Capital Fund for complete information on the general investment objectives, investment restrictions and material risks associated with such North Sky Capital Fund. North Sky Capital manages all assets on a discretionary basis in accordance with the terms and conditions of each North Sky Capital Fund’s Governing Documents. As of September 30, 2023, the amount of assets North Sky Capital manages on a discretionary basis is $852,395,109. THE NORTH SKY CAPITAL FUNDS The North Sky Capital Funds are pooled investment vehicles typically organized as limited partnerships. We offer interests in the North Sky Capital Funds to potential investors (known as “limited partners”) who wish to participate
in private equity by making an investment in a professionally managed private equity fund of funds and/or direct funds. North Sky Capital or a related person of North Sky Capital generally acts as the general partner of each North Sky Capital Fund. In addition, North Sky Capital is retained directly by the North Sky Capital Fund to act as the North Sky Capital Fund’s discretionary investment manager. The specific terms and conditions applicable to the North Sky Capital Fund, as well as the North Sky Capital Fund’s investment focus, investment guidelines, and investment restrictions, if any, are described in the North Sky Capital Fund’s Governing Documents. The general investment guidelines and restrictions applicable to any particular North Sky Capital Fund are negotiated and fixed at the time that the particular North Sky Capital Fund is formed. In accordance with common industry practice, the general partner of a North Sky Capital Fund has the authority to enter into and has entered into “side letters” or side agreements with certain investors in a North Sky Capital Fund whereby the general partner (an affiliate of North Sky Capital) grants the applicable investor specific rights, benefits, or privileges not set forth in the Governing Documents, including economic benefits. Such investor specific rights, benefits or privileges in certain instances are not made available to all investors generally and can and have been granted without notice to other investors. North Sky Capital manages three distinct North Sky Capital Fund families: the North Sky Capital Fund of Funds (the “North Sky Capital Fund of Funds”); the North Sky Capital Direct Funds (the “North Sky Capital Direct Funds”); and the North Sky Capital Sustainable Infrastructure Funds (the “North Sky Capital Sustainable Infrastructure Funds”). Certain North Sky Funds (e.g. Clean Growth Fund III and North Sky Private Equity Partners V) use both a fund of funds approach as well as make direct investments. The North Sky Capital Fund of Funds The North Sky Capital Fund of Funds consist of venture, buyout and ESG / impact pooled investment vehicles designed to provide professionally managed participation in strategically selected venture, buyout, and ESG / impact funds for investors seeking a diversified portfolio of private equity investments within a particular sector. The North Sky Capital Fund of Funds seek to build portfolios with a high degree of diversification within the particular North Sky Capital Fund of Fund’s industry of focus, as well as geography, stage, vintage year, style and size of portfolio investment, with the goal of constructing a core diversified private equity portfolio. The North Sky Capital Direct Funds The North Sky Capital Direct Funds make direct investments or co-investments in opportunities sourced from portfolio investment funds of the North Sky Capital Fund of Funds and are designed for investors that are seeking a portfolio of private equity investments primarily in ESG / impact and venture portfolio companies. The North Sky Capital Sustainable Infrastructure Funds The North Sky Capital Sustainable Infrastructure Funds are organized to accommodate the requirements of investors seeking a core, diversified, energy infrastructure project portfolio that makes (i) investments in pooled investment vehicles that make direct or indirect investments in energy infrastructure projects on a primary or a secondary basis and (ii) co- investments in opportunities sourced from such pooled investment vehicles; (iii) direct investments into infrastructure projects and (iv) opportunistic direct or indirect investments in operating companies through primary or secondary market purchases.