Overview
For purposes of this brochure, the “Adviser” means Castanea Partners, Inc., a Delaware
corporation, together (where the context permits) with its affiliated general partners of the Funds
(as defined below) and other affiliates that provide advisory services to and/or receive advisory
fees from the Funds. Such affiliates are under common control with Castanea Partners, Inc. These
affiliates were formed to serve as general partners and/or managing members of the Funds (in such
capacities, the “General Partners”).
The Adviser provides investment supervisory services to investment vehicles (the “Funds”) that
are exempt from registration under the Investment Company Act of 1940, as amended (the “1940
Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the
“Securities Act”).
The Funds make primarily long-term private equity and equity-related investments, as well as
investments in debt instruments. In accordance with the Funds’ respective investment objectives,
investments are generally made in companies doing business primarily in industry sectors
primarily focused on publishing and information content, branded consumer products, education,
human resource services, specialty retail and marketing information services. The Adviser’s
advisory services consist of investigating, identifying and evaluating investment opportunities,
structuring, negotiating and making investments on
behalf of the Funds, managing and monitoring
the performance of such investments and disposing of such investments. The Adviser serves as
the investment adviser or General Partner to the Funds in order to provide such services.
The Adviser provides investment supervisory services to each Fund in accordance with the limited
partnership agreement (or analogous organizational document) of such Fund or separate
investment and advisory, investment management or portfolio management agreements (each, an
“Advisory Agreement”).
Investment advice is provided directly to the Funds, subject to the discretion and control of the
applicable General Partner, and not individually to the investors in the Funds. Services are
provided to the Funds in accordance with the Advisory Agreements with the Funds and/or
organizational documents of the applicable Fund. Investment restrictions for the Funds, if any,
are generally established in the organizational or offering documents of the applicable Fund,
Advisory Agreements and/or side letter agreements negotiated with investors in the applicable
Fund (such documents collectively, a Fund’s “Organizational Documents”).
The principal owners of Castanea Partners, Inc. are Brian J. Knez and Robert A. Smith. The
Adviser has been in business since 2001. As of December 31, 2023, the Adviser manages a total
of $423,000,000 of client assets, all of which is managed on a discretionary basis.