9AT: HERONETTA MANAGEMENT, L.P.

other names

HERONETTA MANAGEMENT, L.P.

Adviser Profile

As of Date	03/31/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	5
of those in investment advisory functions	3
Registration	SEC, Approved, 03/30/2012

AUM^*	324,063,202 20%
of that, discretionary	324,063,202 20%
Private Fund GAV^*	92,994,342 28%
Avg Account Size	10,802,107 24%
% High Net Worth	93.33% 0%
SMA’s	Yes
Private Funds	1
Contact Info	212 xxxxxxx
Websites

Client Types

- High net worth individuals
- Pooled investment vehicles
- Insurance companies

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count1	GAV$92,994,342

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 WEIK CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund48.7m	Total Private Fund GAV48.7m	AUM305.2m	#Funds2
Adviser FINANCE OF AMERICA 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-	AUM500.0k	#Funds-
Adviser AON ADVANTAGE FUNDS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM148.7m	#Funds-
Adviser P10 ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund296.5m	Total Private Fund GAV296.5m	AUM297.6m	#Funds3
Adviser TAYLOR FRIGON CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund75.3m	Total Private Fund GAV75.3m	AUM299.1m	#Funds1
Adviser BEAR MOUNTAIN CAPITAL INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund11.7m	Total Private Fund GAV11.7m	AUM309.7m	#Funds1
Adviser CARGILE INVESTMENT MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM383.0m	#Funds-
Adviser OPPENHEIMERFUNDS INC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund253.9m	Total Private Fund GAV253.9m	AUM253.9m	#Funds1
Adviser MEMPHIS CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund289.6m	Total Private Fund GAV289.6m	AUM289.6m	#Funds2
Adviser ARCO GLOBAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund266.9m	Total Private Fund GAV266.9m	AUM266.9m	#Funds1

Brochure Summary

Overview

Heronetta Management, L.P. (“Heronetta”), an investment advisory firm headquartered in New York, NY, was established in December 2007 by Henry R. Breck, who owns the majority of the firm. Heronetta manages assets for high-net-worth individuals and associated trusts, family offices, and insurance companies (“Investors”) employing a tax-advantaged income investment strategy centered on actively managed energy-related midstream infrastructure, Master Limited Partnerships and C-Corporations (collectively “MLPs”), which are publicly-traded vehicles. (Also see Section 8 for additional details of the strategy). Heronetta’s management has over 50 years of personal investment experience in the asset class, along with decades of industry experience in both oil and gas and investment management. Heronetta invests a substantial

amount of its liquid net worth in this same sector and strategy. Heronetta also advises a separate account portfolio of relatively high-yielding diversified Canadian listed securities. Heronetta serves as the investment manager for the Heron Income Fund, L.P., a pooled vehicle (“HIF” or the “Fund”). An affiliate of Heronetta serves as the general partner to the Fund. Heronetta also advises separately managed accounts for individuals, institutions and family. The Fund, along with the managed accounts, are Heronetta’s clients (the “Clients”). Heronetta may accommodate investors that have investment parameters and objectives and wish to impose restrictions not compatible with the Fund by opening a separately managed account. As of December 31, 2023, Heronetta managed $265,835,137 on a discretionary basis.

HERONETTA MANAGEMENT, L.P.

Adviser Profile

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Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

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Private Funds Structure

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Brochure Summary

Overview