SSC is an independent private investment firm founded in 2016 and formed under the laws of the 
State of Delaware as a limited liability company.  SSC is primarily owned and controlled by David 
Fredston,  the  Managing  Partner.  Bruno  Adoric  serves  as  SSC’s  Chief  Compliance  Officer. 
References  to  the  “Investment  Committee”  retain  the  meaning  and  identification  found  in  the 
applicable private placement memorandums for the respective private funds managed by SSC. 
SSC serves as an investment manager and provides discretionary advisory services to a number of 
pooled investment vehicles, including investment funds privately offered to qualified investors in 
the United States and elsewhere (each, a “Fund,” and together with any future pooled investment 
vehicles to which SSC or its affiliates provide investment advisory services, the “Funds”).  
Each Fund is governed by a limited partnership agreement, limited liability company agreement, 
or  similar  document  (as  applicable)  that  sets  forth  the  specific  investment  guidelines  and 
restrictions  applicable  to  such  Fund  (each,  a  “Partnership  Agreement”).  In  addition,  Investors 
(defined  below)  in  each  Fund  are  provided  with  confidential  private  placement  memoranda  or 
other offering documents (each, a “Memorandum,” and together with the applicable Partnership 
Agreement, the “Governing Documents”) prior to their investment, which also contain information 
regarding  the  intended  investment  program  for  such  Fund.    See  also  “Methods  of  Analysis, 
Investment Strategies and Risk of Loss” below. 
The Funds make investments primarily in industrial, energy, and basic materials sectors in North 
America.  SSC  is  an  operationally  intensive  firm  that  targets  companies  in  growth  industries  at 
value multiples. SSC’s primary focus is on proprietary transactions and founder-led businesses 
that  have  not  been  professionalized;  where  SSC’s  operational  expertise  can  create  meaningful 
value. Companies SSC Funds invest in are defined herein as “Portfolio Companies.”  From time 
to time, the senior principals or other personnel of SSC or its affiliates generally serve on such 
Portfolio  Companies’  respective  boards  of  directors  or  otherwise  act  to  influence  control  over 
management of Portfolio Companies in which the Funds have invested. 
Affiliates  of  SSC  serve  as  the  general  partner,  manager  and/or  managing  member  (or  similar 
capacities) of each Fund (each, a “General Partner,” and together, the “General Partners”). Each 
of the General Partners is subject to the Advisers Act pursuant to SSC’s registration in accordance 
with SEC guidance. This Brochure also describes the business practices of the General Partners, 
which operate as a single advisory business together with SSC. As such, references to SSC in this 
Brochure should also be considered to include references to the General Partners as appropriate. 
In providing services to the Funds, SSC formulates each Fund’s investment objective, and directs 
and  manages  the  investment  and  reinvestment  of  each  Fund’s  assets.    Investment  advice  is 
provided  directly  to  the  Funds  and  not  individually  to  the  limited  partners,  members,  or 
shareholders  of  the  Funds  (the  “Investors”).    SSC  generally  has  broad  and  flexible  investment 
authority with respect to the investment portfolios that it manages for the Funds, subject to the 
investment guidelines and restrictions set forth in the applicable Governing Documents.   
SSC  neither  tailors  its  advisory  services  to  the  individual  needs  of  Investors  in  the  Funds,  nor 
accepts Investor-imposed investment restrictions; provided that an Investor may be excused from 
a particular investment due to legal,
                                        
                                        
                                             regulatory or other agreed-upon circumstances pursuant to the 
relevant  Partnership  Agreement.  The  Funds  generally  invest  on  a  long-term  basis.    Except  in 
limited circumstances, Investors are not permitted to withdraw from a Fund prior to such Fund’s 
dissolution. 
In certain cases, the Funds or the General Partners have entered into side letter agreements (“Side 
Letters”)  with  certain  Investors  in  a  Fund  that  have  the  effect  of  establishing  rights  under,  or 
supplementing or altering the terms of, the applicable Governing Documents (including without 
limitation,  “most  favored  nations”  rights,  economic  terms,  excuse  rights,  transfer  rights, 
transparency  rights,  reporting  rights,  capacity  rights,  and  approval  rights  and  certain  other 
protections, acknowledgments, confirmations and agreements).  Once invested in a Fund, Investors 
generally cannot impose additional investment guidelines or restrictions on such Fund. 
Shares or limited partnership or member interests in the Funds are not registered under the U.S. 
Securities Act of 1933, as amended (the “Securities Act”), and the Funds are not registered under 
the  Investment  Company  Act  of  1940,  as  amended  (the  “Investment  Company  Act”).  
Accordingly,  interests  or  shares  in  the  Funds  are  offered  and  sold  exclusively  to  Investors 
satisfying applicable eligibility and suitability requirements. 
In certain situations and as permitted by the relevant Partnership Agreement, if SSC determines 
that the purchase of an investment in its entirety would be too large or not appropriate for certain 
of the Funds, SSC may offer the opportunity to “co-invest” to certain Investors in the Funds and/or 
third-parties (including other sponsors, market participants, finders, consultants and other service 
providers,  SSC’s  personnel,  members  of  the  operations  group  and  the  SSC  Board  of  Advisors 
and/or certain other persons associated with SSC and/or its affiliates) (collectively “Co-Investment 
Partners”). These co‐investment opportunities may be offered as interests in a limited partnership, 
limited liability company, or other similar entity formed for each investment (a “Co‐Investment 
Entity”). Co-investments typically involve investment and disposal of interests in the applicable 
Portfolio Company at the same time and on the same terms as the Fund making the investment. 
However, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle may 
purchase a portion of an investment from one or more Funds after such Funds have consummated 
their investment in the Portfolio Company (also known as a post-closing sell-down or transfer). 
Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly after 
the  Fund’s  completion  of  the  investment  to  avoid  any  changes  in  valuation  of  the  investment. 
Where  appropriate,  and  in  SSC’s  sole  discretion,  SSC  is  authorized  to  charge  interest  on  the 
purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price 
under  certain  conditions),  and  to  seek  reimbursement  to  the  relevant  Fund  for  related  costs. 
However,  to  the  extent  such  amounts  are  not  so  charged  or  reimbursed,  they  generally  will  be 
borne by the relevant Fund.  Please refer to Item 8 and Item 10 of this Brochure and the Fund’s 
Partnership  Agreement  for  additional  information  with  respect  to  SSC’s  use  of  Co-Investment 
Entities. 
SSC does not participate in wrap fee programs. 
As of December 31, 2023, SSC managed approximately $1,411,855,127 of regulatory assets under 
management  on  behalf  of  the  Funds,  on  a  discretionary  basis.  SSC  only  manages  assets  on  a 
discretionary basis.