Description of Your Advisory Firm
Promus Asset Management, LLC (“PAM”) is an Illinois limited liability company formed in July
2012. PAM is wholly owned by Promus Holdings, LLC (“Promus Holdings”), whose principal
owner is the Code Family Partnership, LP.
Promus Access GP, LLC (“PAGP”), a relying adviser under PAM, is a Delaware limited liability
company formed in November 2013. PAGP is wholly owned by PAM. Promus Realty Partners,
LLC (“PRP”), a relying adviser under PAM, is a Delaware limited liability company formed in
May 2014. PRP is wholly owned by PAM. Promus Equity Partners, LLC (“PEP”), a relying
adviser under PAM, is a Delaware limited liability company formed in July 2010. PEP is wholly
owned by PAM.
The entities generally operate together, with PAM providing the day-to-day investment advisory
services. In this Brochure, any reference to “Promus” or “Firm” includes PAM, PAGP, PRP and
PEP, unless the context requires otherwise.
Description of Advisory Services Offered
Promus provides investment advisory services exclusively to privately offered investment funds
(each a “Fund,” and collectively “Funds”), including funds of private equity funds, private equity
funds, and real estate funds. The Funds are organized as domestic limited partnerships or limited
liability companies. Promus serves as the general partner, manager or investment adviser (or in a
similar capacity) to the Funds, and provides advice and assistance to such Funds in accordance
with the Fund’s governing documents or investment management agreement, as applicable. A
Fund’s governing documents generally provide that the Fund may be dissolved upon Promus’s
dissolution, withdrawal from the Fund or resignation as the general partner, manager or investment
adviser.
The services provided by Promus
are provided to the Funds, and are generally not tailored to the
needs of individual investors in the Funds. Investors in the Funds participate in the overall
investment program for the applicable Fund and generally may not impose restrictions on
investing.
The Funds typically raise specific capital commitments that may be called over time; however,
certain Funds may call capital commitments in full at the time of subscription.
Interests in the Funds are offered on a private placement basis. The interests are not registered
under the Securities Act of 1933, as amended (the “Securities Act”) or under state securities laws,
and rely on exemptions contained in the Securities Act and in state securities laws for transactions
not involving a public offering. The Funds are also exempt from registration under the Investment
Company Act of 1940, as amended (the “Investment Company Act”). Prior to investing in a Fund,
each investor must complete a subscription agreement.
Promus is also affiliated with Promus Capital, LLC, a separately registered investment adviser that
provides advisory services to family offices and high net worth individuals. Registration with the
SEC or any state regulatory authority does not imply a certain level of skill or training. For more
information on Promus and its affiliates, please see Item 10.
Promus does not currently manage any separate accounts, but it may do so in the future.
Client Assets Under Management
As of December 31, 2023, Promus manages approximately $2,438,560,292 in regulatory assets
under management on a discretionary basis. Of this amount, PAM, PAGP, PRP and PEP manage
approximately $660,858,890, $435,670,747, $220,431,239 and $1,121,599,417, respectively.
Promus does not currently advise any assets on a non-discretionary basis.