A. Description of the Advisory Firm
10th Lane Partners, LP is a limited partnership organized in the state of Delaware. This
firm was formed in June 2008, and the principal owners are Upacala Theresa Mapatuna
and Quinn Dangerfield Morgan.
B. Types of Advisory Services
10th Lane Partners, LP and its wholly-owned subsidiary, Centre Lane Partners, LLC,
(hereinafter “10th Lane Partners,” “the Registrant,” “we,” “us,” “our,”) offers the
following services to advisory clients:
Investment Supervisory Services
10th Lane Partners is the investment manager to select Private Limited Partnerships (the
“Funds”). The Funds are “pooled investment vehicles” and are the clients of 10th Lane
Partners. 10th Lane Partners offers ongoing portfolio management services based on the
goals, objectives, time horizon, and risk tolerance of each Fund. Investment Supervisory
Services include, but are not limited to, the following:
• Investment strategy;
• Asset allocation;
• Asset selection;
• Risk tolerance ; and
• Regular portfolio monitoring
10th Lane Partners intends to create and increase the value of the Funds’ portfolios. 10th
Lane Partners will request discretionary authority from clients in order to select securities
and execute transactions without permission from the client prior to each transaction.
Performance Based Fees
Qualified investors may be charged performance fees based on net profits above a
mutually agreed upon preferred return.
Services Limited to Specific Types of Investments
10th Lane Partners generally limits its investment advice and management to private
equity and private credit investments. 10th Lane Partners may use other securities as well
to help diversify a Fund’s portfolio or facilitate its investment strategy when applicable.
Co-Investment and Special Purpose Vehicles
10th Lane Partners has
formed (and continues to form) and manage co-investment
vehicles (“Co-Investment Vehicles”) that pool funds of related persons, affiliates and/or
third parties to co-invest directly or indirectly as limited partners or equities owners in
entities sponsored, operated and/or managed by 10th Lane Partners. To implement its
investment strategy, a Co‐Investment Vehicle typically acquires minority equity
ownership interests in one or more 10th Lane Partners Affiliated Entities and participates
as an equity owner in all investments made by such 10th Lane Partners Affiliated Entity.
In addition, 10th Lane Partners may form special purpose vehicles (“SPV”) with third
party investors.
The Funds, the SPVs and the Co‐Investment Vehicles are sometimes collectively referred
to herein as the “Funds.”
C. Client Tailored Services and Client Imposed Restrictions
Generally, a related person of 10th Lane Partners serves as the general partner of each Fund
(each, a “General Partner”), and 10th Lane Partners offers a suite of services to each of the
Funds based on the investment objectives of each individual fund. However, specific
investment process decisions are dependent upon each of the Fund’s offering documents,
investment management agreements, and operating agreements (“Governing
Documents”) in place.
Depending on each Funds’ Governing Documents, the Funds’ can impose restrictions in
investing in certain securities or types of securities.
D. Amounts Under Management
10th Lane Partners has the following regulatory assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$3.49 Billion $ - 12/31/2022
For purposes of calculating our regulatory assets under management, we have excluded
the assets and commitments of certain Co-Investment Vehicles and SPVs which are
attributable to other private funds managed by 10th Lane Partners and are included
elsewhere.