Symphony Technology Group, LLC (the “Management Company”) and its affiliates
(collectively, “Symphony”) is a private investment management firm that focuses on managing
private investment funds. The Management Company, a Delaware limited liability company and
an investment adviser registered with the U.S. Securities and Exchange Commission (the “SEC”),
commenced operations in 2002. As of December 31, 2022, the Management Company managed
approximately $431,288,855 in client assets on a discretionary basis.
STG III GP, L.P. (“General Partner III”), a Delaware limited partnership formed in 2007,
is the general partner of STG III, L.P. and STG III-A, L.P. (collectively, “Fund III”). STG IV GP
(Cayman), L.P. (“General Partner IV AIV”), a Cayman Islands exempted limited partnership
formed in 2018, is the general partner of STG IV (Cayman), L.P. and STG IV-A (Cayman), L.P.
(collectively, “Fund IV AIV”). STG IV GP, L.P. (“General Partner IV”), a Delaware limited
partnership formed in 2011, is the general partner of STG IV, L.P. and STG IV-A, L.P.
(collectively with Fund IV AIV, “Fund IV”). STG ST GP, L.P. (“STG ST GP”), a Delaware
limited partnership formed in 2020, is the general partner of STG ST, L.P. (“STG ST” and together
with Fund III, Fund IV and any other parallel or alternative investment vehicle formed in
connection with the foregoing, collectively, the “Funds” and each a “Fund”).
Each of General Partner III, General Partner IV and General Partner IV AIV, and STG ST
GP (each, a “General Partner” and collectively, the “General Partners”) is subject to the Advisers
Act pursuant to and in reliance upon the Management Company’s registration in accordance with
SEC guidance. This Brochure also describes the business practices of the General Partners, which
collectively operate as a single advisory business together with the Management Company.
Each General Partner has the authority to make all investment decisions on behalf of the
applicable Fund. Pursuant to each Fund’s agreement of limited partnership (each, a “Partnership
Agreement”, and together with a Fund’s memorandum, the “Governing Documents”) and to
management agreements (each, a “Management Agreement”) between the Management
Company, each General Partner and each Fund, each General Partner has delegated day-to-day
advisory responsibility for each Fund to the Management Company.
The Management Company and the General Partners (each, an “Adviser” and collectively,
the “Advisers”) provide investment supervisory services to their clients, which currently consist
of the Funds (and together with any future private investment fund to which the Advisers provide
investment advisory services, including employee or co-investment vehicles, parallel funds or
alternative investment vehicles, the “Private Investment Funds”). Each Fund is a private equity
fund and invests through negotiated transactions in operating entities, generally referred to herein
as “portfolio companies.” The Advisers’ investment advisory services to the Funds consist of
identifying and evaluating investment opportunities, negotiating investments, managing and
monitoring investments and achieving dispositions for such investments. Investments are made
predominantly in non-public companies, although investments in public companies are permitted.
When investing in portfolio companies, the senior principals (the “Principals”) or other personnel
of the Advisers generally serve on such portfolio companies’ respective
boards of directors or
otherwise act to influence control over management of portfolio companies held by a Fund.
The advisory services provided by the Management Company and the General Partners for
the Funds are detailed in each Fund’s private placement memorandum, management agreement
and/or Partnership Agreement and are further described below under “Methods of Analysis,
Investment Strategies and Risk of Loss.” Investors in a Private Investment Fund (generally
referred to herein as “investors” or “limited partners”) participate in such Private Investment
Fund’s overall investment program but may be excused from a particular investment due to legal,
regulatory or other applicable constraints; for the avoidance of doubt, such arrangements generally
do not and will not create an adviser-client relationship between the Advisers and any investor.
Each Fund or its General Partner generally enter into side letters or other similar agreements (“Side
Letters”) with certain investors that have the effect of establishing rights under, altering or
supplementing the applicable Partnership Agreement, including providing informational rights,
addressing regulatory matters or varying fees and carried interest, with respect to such investors.
Additionally, from time to time and as permitted by the relevant Partnership Agreement,
the Advisers expect to provide (or agree to provide) investments or co-investment opportunities
(including the opportunity to participate in co-investment vehicles) to certain current or
prospective investors or other persons, including other sponsors, market participants, finders,
consultants and other service providers, the Adviser’s personnel and/or certain other persons associated
with the Adviser and/or its affiliates. Such co-investments typically involve investment and disposal
of interests in the applicable portfolio company at the same time and on the same terms (although
co-investors are generally subject to different economic terms) as the Fund making the investment.
However, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle
(including a co-investing Fund) is permitted to purchase a portion of an investment from one or
more Funds after such Funds have consummated their investment in the portfolio company (also
known as a post-closing sell-down or transfer).
The Management Company’s principal owner is Dr. Romesh Wadhwani.
STG Partners Affiliation
STG Partners LLC (“STG Partners”) was founded in 2017 and serves as the investment
manager of several private investment funds and co-investment vehicles (collectively, the “STG
Funds”). STG Partners was formed to succeed the Management Company and is led by William
Chisholm.
Affiliates of STG Partners serve as general partners or managing members of the STG
Funds (collectively, the “STG General Partners”). Each STG General Partner is subject to the
Advisers Act pursuant to and in reliance upon STG Partners’ registration in accordance with SEC
guidance.
The Management Company, STG Partners and the STG General Partners have different
ownership, but have significant overlap with regard to advisory personnel, investment strategy and
processes. The Management Company receives services from employees of STG Partners, who
also provide services to STG Partners, the STG Funds and their portfolio companies. Additionally,
one or more STG Funds potentially will invest in portfolio companies that are the same as, or
similar to, portfolio companies invested in by the Funds.