9AT: FERMAT CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	03/26/2026
Registration	SEC, Approved, 01/27/2006
ADV Location	WESTPORT, CT, United States
Contact Info	203 xxxxxxx
Websites

AUM^*	11,140,188,586 2%
of that, discretionary	10,051,918,329 6%
Number of Employees	47 27%
of those in investment advisory functions	15 15%
Private Fund GAV^*	201,922,109 156%
Avg Account Size	856,937,584 2%
SMA’s	Yes
Private Funds	3 3

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles
- Insurance companies
- Sovereign wealth funds and foreign official institutions

Advisory Activities

- 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 SUMITOMO MITSUI DS ASSET MANAGEMENT COMPANY, LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM177.7b	#Funds-
Adviser SKY HARBOR 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-	AUM3.9b	#Funds-
Adviser MORGAN STANLEY INVESTMENT MANAGEMENT LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.0b	Total Private Fund GAV2.0b	AUM174.5b	#Funds9
Adviser NIPPON VALUE INVESTORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund197.2m	Total Private Fund GAV197.2m	AUM591.3m	#Funds1
Adviser CIBC GLOBAL ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund156.4b	Total Private Fund GAV156.4b	AUM162.8b	#Funds156
Adviser HERMES INVESTMENT MANAGEMENT LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM24.8b	#Funds-
Adviser TRUSTON ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM13.7b	#Funds-
Adviser JPMORGAN ASSET MANAGEMENT (UK) LIMITED	Hedge Fund219.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund5.6b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund11.2b	Total Private Fund GAV16.9b	AUM484.1b	#Funds14
Adviser BOSERA ASSET MANAGEMENT (INTERNATIONAL) CO., LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM17.3b	#Funds-
Adviser T. ROWE PRICE JAPAN, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM24.1b	#Funds-

Brochure Summary

Overview

FCM provides investment management services on a discretionary basis to separately managed account portfolios and pooled investment vehicles (“Funds”). FCM also provides non- discretionary investment management services to select separately managed accounts. FCM specializes in two separate asset classes. First, FCM invests in Insurance Linked Securities (“ILS”) and other insurance related risks. FCM seeks to build and manage long portfolios of ILS for its ILS clients, primarily through the purchase of catastrophe bonds and direct private ILS investments. Second, FCM invests in trade finance/receivables (“TF”). FCM seeks to build and manage long portfolios of short-term trade receivables for its TF clients through the direct purchase of receivables or investments backed by receivables. For separately managed accounts, FCM manages the assets based on the investment and

risk guidelines of each client as set forth in individually negotiated investment advisory agreements. For Funds, FCM manages the assets in accordance with the terms of the governing documents applicable to each Fund. FCM does not offer or participate in wrap fee programs. FCM was founded in August 2001 and registered as an investment adviser in January 2006. The Company is owned by Dr. John Seo and Nelson Seo. As of December 31, 2023, FCM managed (i) approximately USD 9,450.8 million in Regulatory Assets Under Management (“RAUM”) on a discretionary basis on behalf of 11 ILS clients and 1 TF client and (ii) approximately USD 1,503.4 million in RAUM on a non-discretionary basis on behalf of 1 ILS client and 1 TF client. RAUM is a defined term of the SEC that reflects cash and securities managed for clients as well as all assets of “private funds” as the SEC defines that term.

FERMAT CAPITAL MANAGEMENT, LLC

FERMAT CAPITAL MANAGEMENT, LLC

Adviser Profile

Details

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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FERMAT CAPITAL MANAGEMENT, LLC FERMAT CAPITAL MANAGEMENT, LLC

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview

FERMAT CAPITAL MANAGEMENT, LLC

FERMAT CAPITAL MANAGEMENT, LLC