Sandton Capital Partners, L.P. (“Sandton” or the “Firm”), a Delaware limited partnership, was founded in
June 2010 by Rael Nurick and Thomas Wood. Rael Nurick and Thomas Wood are the principal owners of
Sandton.
Sandton is a private investment fund manager focused on special situation investments. Sandton provides
its services to privately offered domestic and offshore investment vehicles, some of which are co-
investment vehicles (the “Funds” or “clients”), pursuant to investment management agreements (“IMAs”)
under which Sandton is granted investment discretion subject to the policies and restrictions imposed by
the relevant IMAs and limited partnership agreements (each, an “LPA”) for such Funds.
Historically, Sandton has not begun investing on behalf of a Fund until its predecessor Fund has invested
substantially all its capital. As a result, Sandton typically does not need to address allocation decisions as
between or among the Funds, other than co-investment vehicles, as discussed below. Although it has
occurred very infrequently in the past, Sandton may be required to make allocation determination decisions
between Funds with respect to certain “follow on” investments. If such “follow on” investment consists of
an additional purchase of an instrument held by an existing Fund from a different seller, such purchase
opportunity will generally be allocated to the Fund that is currently in its investment period. However, if
such “follow on” investment takes the form of a cash infusion into a company or issuer that is the subject
of debt or equity held by an existing Fund, then
such “follow on” investment will be allocated to the Fund
that initially made such investment, subject to the Fund’s capacity for such investment. Sandton is
responsible for sourcing and identifying new investments. Pursuant to certain of the Funds’ governing
documents, if an investment that is a viable opportunity for a Fund exceeds a certain size, it is submitted to
the Fund’s advisory committee (“Advisory Committee”) for additional review. When a potential
investment exceeds the Fund’s capacity for such investment, such investment may be considered as a
potential co-investment opportunity. When an eligible co-investment opportunity arises, the Firm will
typically offer the opportunity to participate to certain investors in its discretion through a collective
investment vehicle. Historically, co-investors have included (i) investors in the Fund for which that
opportunity was originally sourced, (ii) certain key large investors in the relevant Fund, (iii) the investors
who provided seed capital (the “Seed Investors”) to the Firm at the time of its founding. (See Items 10.C.
and 11.A.)
The Firm tailors its advisory services to each Fund or co-investment vehicle it manages in accordance with
the terms of the relevant offering memorandum or mandate for such co-investment vehicle, as applicable.
Sandton does not participate in, nor does it sponsor, wrap fee programs.
As of December 31, 2023, Sandton managed approximately $1,422,259,616 in regulatory assets under
management on a discretionary basis. Sandton does not manage client assets on a non-discretionary basis.