A. General Description of Advisory Firm. The Adviser is a limited partnership organized in September 2012 under the laws of the state of Delaware. Its general partner is Zimmer Partners GP, LLC, a limited liability company also organized in September 2012 under the laws of the state of Delaware (the “Adviser General Partner”). The Adviser General Partner owns 1% of the interests in Zimmer and Stuart J. Zimmer indirectly owns 99% of the interests of Zimmer. Stuart Zimmer indirectly owns the Adviser General Partner, which has ultimate responsibility for the management, operations and the investment decisions made by the Adviser. As of the date of this Brochure, Zimmer Frankel Property Group LLC, a limited liability company organized on December 6, 2019, under the laws of the state of Delaware, is no longer a relying adviser. Clients previously managed by Zimmer Frankel Property Croup LLC are currently managed by the Adviser. B. Description of Advisory Services. The Adviser provides investment supervisory and management services on a discretionary basis to clients, which are commingled private investment funds (each, a “Fund” and collectively, the “Funds”) intended for institutional investors and other sophisticated investors. As of the date of this Brochure, the Adviser provides investment supervisory and management services on a discretionary basis to the following Funds: The Utility Funds (collectively referred to herein as the “Utility Funds”)
• ZP Master Utility Fund, Ltd., a Cayman Islands exempted company
• ZP Offshore Utility Fund, Ltd., a Cayman Islands exempted company
• ZP Utility Fund, L.P., a Delaware limited partnership. ZP Utility GP, LLC, an affiliate of the Adviser, serves as the general partner to ZP Utility Fund, L.P.
• ZP Utility Insurance, L.P. a Delaware limited partnership. ZP Utility Insurance GP, LLC, an affiliate of the Adviser, serves as the general partner to ZP Utility Insurance Fund, L.P. The Infrastructure Funds (collectively referred to herein as the “Infrastructure Funds”)
• Zimmer Infrastructure Fund, L.P. (F/K/A ZP Energy Fund, L.P.), a Delaware limited partnership. Zimmer Infrastructure GP, LLC (F/K/A ZP Energy GP, LLC), an affiliate of the Adviser, serves as the general partner to Zimmer Infrastructure Fund, L.P.
• Zimmer Master Infrastructure Fund, L.P. (F/K/A ZP Master Energy Fund, L.P.), a Cayman Islands exempted limited partnership. Zimmer Offshore Infrastructure GP, LLC (F/K/A ZP Offshore Energy GP, LLC), an affiliate of the Adviser, serves as the general partner to Zimmer Master Infrastructure Fund, L.P.
• Zimmer Offshore Infrastructure Fund, Ltd. (F/K/A ZP Offshore Energy Fund, Ltd.), a Cayman Islands

exempted company. The MidCap Funds (collectively referred to herein as the “MidCap Funds”)
• ZP MidCap Fund, L.P., a Delaware limited partnership. ZP MidCap GP, LLC, an affiliate of the Adviser, serves as the general partner to ZP MidCap Fund, L.P.
• ZP Master MidCap Fund, L.P., a Cayman Islands exempted limited partnership
• ZP Offshore MidCap Fund, Ltd., a Cayman Islands exempted company The Triple Net Fund (referred to herein as the “Triple Net Fund”)
• Sequentis Triple Net Fund, LP, a Delaware limited partnership. Sequentis Triple Net Fund GP, LLC an affiliate of the Adviser, serves as the general partner to Sequentis Triple Net Aggregator, LP. The general investment objectives of the Utility, Infrastructure and MidCap Funds are focused, although not exclusively, on electric and gas utilities, integrated utilities, water utilities, telecommunication companies, renewable and independent power producers, midstream infrastructure companies, master limited partnerships (“MLPs”), exploration and production companies, oilfield services companies, and more broadly in energy and infrastructure-related industries (such as chemicals, materials, transportation infrastructure and real estate equities). The Infrastructure Funds employ the same fundamental research and analysis as the Utility Funds and invest in a similar universe of companies but utilize different investment criteria. Although the Infrastructure Funds and the Utility Funds have the same investment team and investment process, the Infrastructure Funds’ investments are expected to have a longer investment horizon and greater individual position concentration, and the Infrastructure Funds will generally maintain fewer total positions than the Utility Funds. The MidCap Funds employ the same fundamental research and analysis as the Utility Funds and invest in similar sectors but invest in small to mid-cap companies and smaller IPOs, as described in the offering materials for the MidCap Funds. The Triple Net Fund serves as a vehicle to facilitate an investment in RGMZ Venture REIT LLC, a Delaware limited liability company. C. Tailoring of Advisory Services. The Adviser’s investment decisions and advice with respect to each client are subject to each client’s investment objectives and guidelines, as set forth in its offering documents. D. Wrap Fee Programs. The Adviser does not participate in wrap fee programs. E. Assets Under Management. As of December 31, 2023, the Adviser managed approximately $6,842,318,663, which is the aggregate regulatory assets under management, on a discretionary basis. The Adviser does not manage any assets on a non-discretionary basis.