9AT: CPMG, INC.

other names

CPMG, INC.
CONDIRE INVESTORS, LLC ("SPECIAL PURPOSE GENERAL PARTNER")
WHITE IBIS GP, LLC ("SPECIAL PURPOSE GENERAL PARTNER")
REDBIRD LIFE SCIENCES, INC. ("SPECIAL PURPOSE GENERAL PARTNER")
MOORHEN, LLC ("SPECIAL PURPOSE GENERAL PARTNER")

Adviser Profile

As of Date	03/30/2026
Registration	SEC, Approved, 12/14/2005
Other registrations (1)	Texas, Terminated, 01/04/2006
ADV Location	DALLAS, TX, United States
Contact Info	214 xxxxxxx

AUM^*	855,773,000 -18%
of that, discretionary	855,773,000 -18%
Private Fund GAV^*	1,056,710,529 1%
Avg Account Size	32,914,346 -18%
SMA’s	Yes
Private Funds	31 5

Adviser Type

- Large advisory firm

Number of Employees 7 17%

of those in investment advisory functions 2

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

SEC Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count26	GAV$1,056,710,529
Fund TypeOther Private Fund	Count5	GAV$

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 DELTA-V CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.3b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund78.9m	Other Fund532.9m	Total Private Fund GAV2.0b	AUM1.6b	#Funds36
Adviser DC CAPITAL PARTNERS MANAGEMENT, L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.3b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.3b	AUM1.5b	#Funds4
Adviser ENLIGHTENMENT CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.6b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.6b	AUM2.1b	#Funds18
Adviser EMERALD HILL CAPITAL PARTNERS HOLDINGS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund476.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV476.0m	AUM476.0m	#Funds2
Adviser GRP ROYALTY HOLDINGS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM99.0m	#Funds-
Adviser LONG RIDGE EQUITY PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.1b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.1b	AUM2.1b	#Funds14
Adviser 22C CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.5b	AUM1.5b	#Funds14
Adviser SERVE CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.5b	AUM2.5b	#Funds17
Adviser E2P	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.9b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.9b	AUM1.9b	#Funds10
Adviser CAI MANAGER LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.2b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.2b	AUM2.2b	#Funds19

Brochure Summary

Overview

CPMG, Inc., a Texas corporation and private investment advisory firm (“we,” “us,” “our” or “CPMG”), was formed in 2005. When CPMG was formed it assumed the advisory business of Cardinal Investment Company, Inc., a Texas corporation and private investment advisory firm which was formed in 1972. We provide investment management and other services to various private pooled investment vehicles and a separately managed account with respect to investments in securities and other financial instruments. We have full discretionary authority with respect to investment decisions, and our investment advice is provided in accordance with the investment objectives and guidelines set forth in the applicable offering, governing and/or account documents. The information set forth in this brochure is qualified in its entirety by the applicable offering, governing and/or account documents. R. Kent McGaughy, Jr. and Antal R. Desai are our shareholders. Funds We serve as investment manager to various private pooled investment vehicles organized as Texas limited partnerships, including Bearded Reedling, LP, (“Bearded Reedling”), Bullfinch, LP, (“Bullfinch”), Canary Partners, LP (“Canary”), Cerulean Warbler, LP (“Cerulean Warbler”), Cotinga, LP (“Cotinga”), Garganey, LP (“Garganey”), Ibisbill, L.P. (“Ibisbill”), Kestrel Fund, L.P. (“Kestrel”), Oriole, LP (“Oriole”), Petrel Fund, L.P. (“Petrel”), Snowy Owl, LP,

(“Snowy Owl”), Whimbrel Partners, LP (“Whimbrel”), White Tailed Ptarmigan, LP (“Ptarmigan”), and Willet Fund, L.P. (“Willet”). In addition, we serve as investment manager to various private investment vehicles, including Barred Owl Partners, L.P. (“Barred Owl”), Crested Crane, L.P. (“Crested Crane”), Elepaio Partners, LP (“Elepaio”), Gallopavo, LP (“Gallopavo”), Killdeer Fund, L.P. (“Killdeer”), Mallard Fund, L.P. (“Mallard”), Nighthawk Partners, LP (“Nighthawk”), Roadrunner Fund, L.P. (“Roadrunner”), and Yellow Warbler, L.P. (“Yellow Warbler,” and together with Barred Owl, Crested Crane, Elepaio, Gallopavo, Killdeer, Mallard, Nighthawk, and Roadrunner, the “Institutional Funds,” and the Institutional Funds together with Bearded Reedling, Bullfinch, Canary, Cerulean Warbler, Cotinga, Ibisbill, Garganey, Kestrel, Petrel, Oriole, Ptarmigan, Snowy Owl, Whimbrel, and Willet, the “Funds”). The Institutional Funds have been established as private investment vehicles primarily for the benefit of one or more institutional investors and their affiliates. We serve as investment manager with respect to each of the Funds and are responsible for investing and re-investing the assets of each Fund in securities, financial instruments and/or other assets in accordance with the investment objectives, policies and guidelines set forth in the applicable offering memoranda and/or governing documents. See

CPMG, INC.

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview