General Information
Indie Asset Partners, LLC (“IAP”) is a Registered Investment Adviser with the U.S. Securities
and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. IAP was
formed in 2010. The principal owners are Grady J. Gaynor and Kevin M. Alerding.
IAP provides financial planning, portfolio management, family office, and retirement plan
advisory services to its clients. IAP is also the adviser to multiple affiliated private funds
which are recommended to clients, as appropriate.
As of December 31, 2023, IAP managed $734,283,413 on a discretionary basis,
$57,927,760on a non-discretionary basis and had assets under advisement of $63,924,830.
SERVICES PROVIDED
At the outset of each client relationship, IAP representatives spend time with the client, ask
questions, discuss the client’s investment experience and financial circumstances, and
review options for the client. Based on its reviews, IAP generally develops with each client:
• a financial outline for the client based on the client’s financial circumstances, goals,
and risk tolerance level (the “Financial Profile” or “Profile”); and
• the client’s investment objectives and guidelines (the “Investment Plan” or “Plan”).
The Financial Profile is a reflection of the client’s current financial picture and consideration
of the client’s goals. The Investment Plan outlines the types of investments IAP will make or
recommend on behalf of the client to meet those goals. The Profile and the Plan are discussed
regularly with each client but are not necessarily written documents.
Financial Planning
IAP offers financial planning services to those clients in need of such service in conjunction
with portfolio management services. IAP’s financial planning services normally address
areas such as general cash flow planning, retirement planning, and insurance analysis. The
goal of this service is to assess the financial circumstances of the client in order to more
effectively develop the client’s Investment Plan. Financial planning is not offered as a stand-
alone service or for a separate fee but is typically provided in conjunction with the
management of the portfolio.
Private Fund Management – Affiliated Funds
IAP is affiliated with certain private funds organized as limited partnerships or limited
liability companies
because IAP is the investment adviser and/or there is common
ownership and/or control between IAP and the general partners or managers of those
investment funds (“Affiliated Funds”). IAP serves as investment adviser for the following
Affiliated Funds: Indie Diversified Asset Fund, L.P. (“IDAF”), Indie Diversified Income Fund,
LLC (“IDIF”), Indie Diversified Income Fund II, LLC (“IDIF II”), Indie Diversified Absolute
Return Fund, LLC (“IDARF”), New Ventures aS Solutions, LLC (“NVAS”), and Vantage Multi-
Strategy Fund L.P. (“VMS”). IDAF and IDARF are winding down and are no longer offered to
new investors. The Affiliated Funds invest in private investments, including Affiliated Funds,
private funds managed by third parties (“Nonaffiliated Funds”), and other types of private
investment vehicles (collectively “Alternative Investments”). Alternative Investments may
also be held in other client accounts. The investment strategies and important disclosures
of the Affiliated Funds are outlined in the Funds’ Private Offering Memorandums which are
provided to all investors and should be reviewed carefully. Please see Item 10 – Other
Financial Industry Activities and Affiliations below for more information about conflicts
of interest related to IAP’s common ownership and/or control between IAP and the general
partners or managers of the Affiliated Funds.
• IDIF
IDIF is a fund of funds hedge fund that is exempt from registration under the
Investment Company Act of 1940, as amended, pursuant to Section 3(c)(1). IDIF
seeks to generate annual income, annualized over the life of the fund through
investments in U.S. and non-U.S. pooled investment vehicles invested in, including
but not limited to, collateralized loan obligations, triple net leases, real estate, real
estate loans, real estate preferred instruments, and drug royalties. IDIF also invests
directly in real estate or other direct investments as appropriate. IDIF is invested in
a pooled investment vehicle which is invested in a private equity investment that is
the sole investment of NVAS, an Affiliated Fund. Please see the disclosures regarding
NVAS below for a description of the conflicts of interest applicable to this investment.
Additionally, IDIF invests in multiple series of VMS, an Affiliated Fund. Please see