Goldner Hawn is a private equity firm formed in March 2018 under the laws of the State of Delaware as a Limited Partnership. Headquartered in Minneapolis, Minnesota, the firm was founded by Jason Brass, Chadwick Cornell, Joseph Heinen, Timothy Johnson, and Peter Settle (each a “Founding Partner” and collectively, the “Founding Partners”). The Founding Partners worked together for many years and average over two decades of private equity experience. Mr. Brass, Mr. Heinen, Mr. Johnson, and Mr. Settle worked together from 2004 to December 2021, while Mr. Cornell joined the team in 2013. In January 2024, Andrew Tomashek, who joined the firm in 2012, became a Partner and owner of Goldner Hawn. Messrs. Brass, Cornell, Heinen, and Tomashek (each a “Partner” and collectively, the “Partners”) are the current owners of Goldner Hawn. Mr. Johnson divested his ownership interest in Goldner Hawn effective December 2021 as part of his transition to retirement and, as of December 31, 2023, is no longer affiliated with the Adviser. The Partners are also shareholders of Goldner Hawn Johnson & Morrison Incorporated (“GHJM”), a Minnesota corporation, which manages Trailhead Fund Limited Partnership, a Delaware limited partnership (“Fund VI”). Fund VI was a Small Business Investment Company (“SBIC”) licensed by the United States Small Business Administration but following the realization of its remaining investment in January 2024, Fund VI surrendered its SBIC license. GHJM will continue to manage Fund VI through final distribution of escrows and winding down activities. GHJM was established in 1989. Goldner Hawn serves as an investment manager and provides investment advisory services to private investment partnerships. Currently, this includes Goldner Hawn Fund VII, L.P. (“Fund VII”) and Goldner Hawn Fund VIII, L.P. (“Fund VIII”) (together, Fund VII and Fund VIII and any related vehicles are referred to herein as the “Funds” and individually, but indistinguishably as a “Fund”). Both Fund VII and Fund VIII are Delaware limited partnerships. The Funds were organized for the primary purpose of seeking to make control-oriented private equity investments in lower-middle market companies based in the United States. The Funds’ investments are expected to be diversified across a number of industries, such as food manufacturing and distribution, transportation and logistics, outsourced business service providers, and manufacturing of industrial and consumer products.

Within these sectors, the Funds generally seek to partner with business owners and management teams to develop a shared vision and drive value creation. Goldner Hawn’s advisory services for the Funds are detailed in the applicable offering memoranda, management agreements, and partnership agreements (collectively, the “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Goldner Hawn GP, LLC (“Fund VII GP”), a Delaware limited liability company, serves as the general partner of Fund VII. Goldner Hawn GP VIII, L.P., a Delaware limited partnership, serves as the general partner of Fund VIII (“Fund VIII GP”) (together, Fund VII GP, Fund VIII GP, and any future affiliated general partner entities are referred to as the “General Partners” and individually, but indistinguishably as a “General Partner”). Both General Partners are affiliated advisers of Goldner Hawn and are included in Goldner Hawn’s Form ADV Part 1. This brochure also describes the business practices of the General Partners, which operate as a single advisory business together with Goldner Hawn. For further information regarding these entities, see “Other Financial Industry Activities and Affiliations” below. As of December 31, 2023, Goldner Hawn manages $803,806,005 on a discretionary basis. In providing services to the Funds, Goldner Hawn executes the investment objective, directs and manages the investment of the Funds’ assets, and provides periodic reports to investors in the Funds. Investment advice is provided directly to the Funds and not individually to the Funds’ investors. Goldner Hawn manages the assets of the Funds in accordance with the terms of the applicable Governing Documents, which are generally established at the time of the formation of a Fund. Investors are not permitted to direct investments by a Fund, and except in limited circumstances, investors are not permitted to withdraw from a Fund prior to completion of the Fund’s winding up. Investor 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 in the Funds are offered and sold exclusively to investors satisfying the applicable eligibility and suitability requirements either in private transactions within the United States or in offshore jurisdictions.