9AT: PETROCAP, LLC

other names

PETROCAP, LLC

Adviser Profile

As of Date	03/28/2025
ADV Location	DALLAS, TX, United States
Adviser Type - Large advisory firm
Number of Employees	15 -6%
of those in investment advisory functions	6 -25%
Registration	SEC, Approved, 03/28/2014

AUM^*	807,503,385 -12%
of that, discretionary	807,503,385 -7%
Private Fund GAV^*	808,385,847
Avg Account Size	134,583,898 -7%
SMA’s	No
Private Funds	7 1
Contact Info	214 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count4	GAV$563,124,669
Fund TypeReal Estate Fund	Count3	GAV$245,261,178

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser LONE STAR FUNDS	Hedge Fund23.7b	Liquidity Fund-	Private Equity Fund11.6b	Real Estate Fund2.9b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV38.1b	AUM37.4b	#Funds43
Adviser MSD PARTNERS, L.P.	Hedge Fund6.8b	Liquidity Fund-	Private Equity Fund2.4b	Real Estate Fund7.8b	Securitized Asset Fund623.8m	Venture Capital Fund-	Other Fund-	Total Private Fund GAV17.6b	AUM23.1b	#Funds76
Adviser RED DOOR WEALTH MANAGEMENT, LLC	Hedge Fund44.9m	Liquidity Fund-	Private Equity Fund71.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund4.4m	Total Private Fund GAV120.6m	AUM2.5b	#Funds6
Adviser SWS PARTNERS, LLC	Hedge Fund1.4m	Liquidity Fund-	Private Equity Fund8.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.5m	AUM359.7m	#Funds7
Adviser SEPIO CAPITAL, LP	Hedge Fund33.0m	Liquidity Fund-	Private Equity Fund175.4m	Real Estate Fund73.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV281.8m	AUM4.5b	#Funds14
Adviser TIEDEMANN ADVISORS, LLC	Hedge Fund3.3b	Liquidity Fund-	Private Equity Fund387.9m	Real Estate Fund205.4m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund420.7m	Total Private Fund GAV4.3b	AUM29.0b	#Funds31
Adviser METLIFE INVESTMENT MANAGEMENT, LLC	Hedge Fund366.9m	Liquidity Fund-	Private Equity Fund2.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.2b	Total Private Fund GAV5.1b	AUM508.9b	#Funds24
Adviser FIRST TRUST CAPITAL MANAGEMENT L.P.	Hedge Fund632.1m	Liquidity Fund-	Private Equity Fund1.4b	Real Estate Fund276.9m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund163.8m	Total Private Fund GAV2.5b	AUM8.2b	#Funds41
Adviser PARTNERS CAPITAL INVESTMENT GROUP, LLP	Hedge Fund9.8b	Liquidity Fund-	Private Equity Fund7.4b	Real Estate Fund14.9m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund198.5m	Total Private Fund GAV17.4b	AUM41.5b	#Funds90
Adviser PERMIT CAPITAL, LLC	Hedge Fund548.7m	Liquidity Fund-	Private Equity Fund29.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV578.5m	AUM551.0m	#Funds18

Brochure Summary

Overview

PetroCap is a Delaware limited liability company with a principal place of business in Dallas, Texas. The Firm provides discretionary investment advisory services to pooled investment vehicles that specializes in investments in the oil and gas and solar sectors. This Form ADV Part 2A applies to PetroCap and its relying adviser, Aplomado. PetroCap is the investment adviser to PetroCap Partners II, L.P., and PetroCap Partners III, L.P. (the “PetroCap Funds”) and a related co-investment entity, Four Rivers Co-Invest, L.P. (“Four Rivers”). Aplomado is the investment adviser to Aplomado Partners I-A, LP (Fund 1-A”), Aplomado Partners I-B, LP (“Fund 1-B”), and Aplomado Partners Holding I, LLC (collectively, the “Aplomado Funds”, and together with the PetroCap Funds and Four Rivers, the “Funds”). OWNERSHIP PetroCap was formed in 2014 and its principal owners are William Britain, Marc Manzo, and David Hopson. TYPES OF ADVISORY SERVICES The Funds are currently the sole advisory clients of the Company. The PetroCap Funds generally invest in stand-alone oil and natural gas projects with a focus on the

“upstream” or exploration and production (E&P) segment of the domestic oil and natural gas industry. Four Rivers generally invests in an upstream and midstream oil and gas project in the San Juan Basin. The Aplomado Fund generally invests in solar royalties through the acquisition of land and lease payment rights under photovoltaic (PV) solar farms that are in current operation as well as those in the development phase. TAILORING SERVICES The Company provides investment advice directly to the Funds and does not tailor its services individually to the investors. The Company invests in a manner which is consistent with the stated investment objectives as detailed in the private placement memorandum and limited partnership agreement (the “governing documents”) of the Funds. WRAP FEE PROGRAMS The Company does not participate in wrap fee programs. REGULATORY ASSETS UNDER MANAGEMENT As of December 31, 2023, the Company managed approximately $914 million in regulatory assets under management, on a discretionary basis. The Company does not manage any client assets on a non-discretionary basis.

PETROCAP, LLC

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