A. General Description of Advisory Firm Freeport Financial Partners LLC is a Chicago-based investment advisory firm founded in September 2012 by Matthew Gerdes, Joshua Howie, Stephen Papalas and Joseph Walker (the “Founders”). Freeport Financial Partners LLC was formed by the Founders to take on the business of Freeport Financial LLC, which was divested to the Founders by Stark Investments in August 2012. Prior to the divestiture, since 2005, the Founders originated, underwrote and managed middle market loans on behalf of Freeport Financial LLC. Freeport Financial Partners LLC is registered as an “investment adviser” under the Investment Advisers Act of 1940, as amended. Freeport Financial Partners LLC is owned as an indirect subsidiary of Moelis Asset Management LP (formerly known as Moelis & Company Holdings LP). Freeport Financial Partners LLC provides investment advisory services to Freeport Financial SBIC Fund LP, a Delaware limited partnership, Freeport First Lien Loan Fund III LP, a Delaware limited partnership, Freeport First Lien Loan Fund III-B LP, a Delaware limited partnership, Freeport First Lien Loan Fund III (Offshore) LP, a Cayman Islands limited partnership, Freeport First Lien Loan Fund III-B (Offshore) LP, a Cayman Islands limited partnership, Freeport First Lien Loan Fund IV LP, a Delaware limited partnership, Freeport Financial IV Lux S.C.Sp., a Luxembourg special limited partnership, Freeport First Lien Loan Fund IV-B (OFFSHORE) LP, a Cayman Islands limited partnership, Freeport First Lien Loan Fund V LP, a Delaware limited partnership, Freeport. Financial Partners 1912 Fund LP, a Delaware limited partnership, Freeport Stepstone CC LP, a Delaware limited partnership, Freeport First Lien Loan Fund V-B (OFFSHORE), a Cayman Islands limited partnership, Freeport Financial V Lux S.C.Sp, a Luxembourg special limited partnership, Freeport First Lien Loan Fund VI LP, a Delaware limited partnership, Swiss Capital FPT Private Debt Fund L.P., a Cayman Islands limited partnership, Swiss Capital Secondary Private Debt Funds SPC, a Cayman Islands exempted company, and Freeport US Direct Lending 2019 LP, a Cayman Islands exempted limited partnership. Our business focuses on advising clients in making investments primarily in senior secured loans to middle market borrowers backed by private equity firms. As used in this brochure:
• “Freeport,” “we,” “us” and “our” refer to Freeport Financial Partners LLC and its investment advisory business;
• the “Moelis broker-dealer” refers to Moelis & Company LLC;
• the “Freeport Funds” refer to Freeport Financial SBIC Fund LP, a Delaware limited partnership; Freeport First Lien Loan Fund III LP, a Delaware limited partnership, Freeport First Lien Loan Fund III-B LP, a Delaware limited partnership, Freeport First Lien Loan Fund III (Offshore) LP, a Cayman Islands limited partnership; Freeport First Lien Loan Fund III-B (Offshore) LP, a Cayman Islands limited partnership; Freeport Financial IV Lux S.C.Sp., a Luxembourg special limited partnership; Freeport First Lien Loan Fund IV LP, a Delaware limited partnership Freeport First Lien Loan Fund IV-B (OFFSHORE), a Cayman Islands limited partnership; Freeport First Lien Loan Fund V LP, a Delaware limited partnership; Freeport First Lien Loan Fund V-B (OFFSHORE) LP, a Cayman Islands limited partnership, Freeport Financial V Lux S.C.Sp, a Luxembourg special limited partnership, Freeport Stepstone CC LP, a Delaware limited partnership, Freeport Financial Partners 1912 Fund LP, a Delaware limited partnership and Freeport First Lien Loan Fund VI LP, a Delaware limited partnership.
• The “Onshore Funds” refer to Freeport Financial SBIC Fund LP (the “SBIC Fund”), a Delaware limited partnership; Freeport First Lien Loan Fund III LP, a Delaware limited partnership, Freeport First Lien Loan Fund III-B LP; Freeport First Lien Loan Fund IV LP, a Delaware limited partnership; Freeport First Lien Loan Fund V LP, a Delaware limited partnership; Freeport Stepstone CC LP, a Delaware limited partnership, Freeport Financial Partners 1912 Fund LP, a Delaware limited partnership and Freeport First Lien Loan Fund VI LP, a Delaware limited partnership. The “Offshore Funds” refer to Freeport First Lien Loan Fund III (Offshore) LP and Freeport First Lien Loan Fund III-B (Offshore) LP, a Cayman Islands limited partnership; Freeport Financial IV Lux S.C.Sp., a Luxembourg special limited partnership (the “Lux Fund”), Freeport Fund

IV-B (OFFSHORE), a Cayman Islands limited partnership, Freeport Financial V Lux S.C.Sp, a Luxembourg special limited partnership and Freeport Fund V-B (OFFSHORE), a Cayman Islands limited partnership;
• The “Offshore Cayman Funds” refer to Freeport First Lien Loan Fund III (Offshore) LP and Freeport First Lien Loan Fund III-B (Offshore) LP, a Cayman Islands limited partnership; Freeport Fund IV-B (OFFSHORE), a Cayman Islands limited partnership and Freeport Fund V-B (OFFSHORE), a Cayman Islands limited partnership;
• the “Principals” collectively refer to Matthew Gerdes, Joshua Howie, Stephen Papalas and Joseph Walker;
• the “SC FPT Fund” refers to Swiss Capital FPT Private Debt Fund L.P., a Cayman Islands limited partnership;
• the “SC Secondary Fund” refers to Swiss Capital Secondary Private Funds SPC, a Cayman Islands exempted company ; and
• the “USDL Fund” refers to Freeport US Direct Lending 2019 LP, a Cayman Islands exempted limited partnership (collectively the SC FPT Fund, the SC Secondary Fund, the USDL Fund and the Freeport Funds shall be referred to as the “Funds” and the SC FPT Fund and SC Secondary Fund shall be referred to as the “SC Funds”). B. Description of Advisory Services We provide investment advice to the Funds regarding the origination, underwriting, selection, monitoring and realization of each investment held therein. Generally, we provide assistance to: the General Partner of each Freeport Fund; Swiss Capital Invest Holding (Dublin) Limited, (the “Manager”) who manages the SC Funds; and FFP US Direct Lending 2019 GP Ltd (the “USDL Manager”, the general partner of the USDL Fund with respect to strategic planning, identifying potential investments, screening and referring potential investments to the Funds, recommending strategies for exit from investments, executing the investments, monitoring the performance of investments, providing economic and investment analysis with respect to investments, preparing valuations and reports in accordance with the Freeport Funds Agreements and the SC Funds/ USDL Fund investment advisory agreements. We also work with the portfolio companies directly under the direction of the General Partner of the Freeport Funds to monitor portfolio company performance. The relationship between us and the Funds is governed by the Investment Advisers Act of 1940, as amended, as well as the governing documents of each of the Funds and the terms of investment advisory agreement concluded between us and each of the Funds. Interests in the Funds are privately offered only to qualified purchasers, typically institutional investors (for example, banks, family offices, public and private pension funds) and eligible high-net-worth individuals. The Funds will primarily invest in middle-market loans issued to borrowers typically located in the United States and exhibiting revenues between $25 million and $100 million. The Funds’ investments will primarily consist of floating-rate senior secured loans issued to borrowers backed by private equity firms that the Principals have underwritten and believe to be top-tier firms. Some of the senior secured loans the Funds will issue may be “one-stop financings” – meaning such a loan will take the place of both the senior and mezzanine component of a senior/mezzanine capital structure but will still enjoy all of the protections associated with a senior secured loan. The Funds may provide mezzanine financing alone, provide fixed-rate senior loans or make equity investments in very limited instances. The investment advice we provide to the Funds is limited to the middle-market loan investment program described immediately above and conducted by the Funds. C. Availability of Tailored Services for Individual Clients Our advisory services are tailored to the investment strategies of each of the Funds. Investment restrictions are imposed in the governing agreements for the Funds, as specifically negotiated with investors. The Firm also has side letters with certain investors, typically providing for enhanced reporting and co-investment opportunities as well as certain fee reductions and excuse rights. D. Wrap Fee Programs This item is not applicable as we do not participate in any wrap fee programs. E. Client Assets Under Management As of December 2022, we were managing $3,372,543,237 of Regulatory Assets Under Management on a discretionary basis in the Funds.