Northlight Capital Partners LLC (“NCP” or the “Advisor”), a Delaware limited liability company, is an investment management firm based in Connecticut that commenced operations in early 2013. For purposes of this brochure, NCP means Northlight Capital Partners LLC together with its affiliates serving as general partners and managers of the Clients (defined below). Hillspoint Partners LLC (“HPP”), a Delaware limited liability company, is the sole member and manager of NCP, and Michael B. Gerig is HPP’s principal owner. NCP provides investment advisory services to various pooled investment vehicles (the “Funds”) and co-investment vehicles where other investors make investments alongside the Funds (the “Co-Investment Vehicles,” together with the Funds the “Clients”). The Clients are exempt from registration under the Investment Company Act of 1940, and their securities are not registered under the Securities Act of 1933. NCP’s investment activities focus primarily on opportunistic credit and/or equity investments in stressed/distressed real estate-related opportunities. Each Fund’s investment strategy is described in more detail in a confidential private placement memorandum, a limited partnership agreement, and other governing documents applicable to such Fund and the Co-Investment Vehicles are generally governed by their operating agreements (such documents as applicable for each Client are referred to as “Governing Documents”). NCP generally has full discretionary

authority with respect to investment decisions for the Funds. NCP invests each Fund’s portfolio in compliance with the investment objectives, guidelines and restrictions set forth in the applicable Fund’s Governing Documents. NCP does not tailor its investment advice to meet the investment needs of any individual investors in the Funds. However, in accordance with common industry practice, a Fund or its general partner may from time to time enter into a “side letter” or similar agreement with an investor pursuant to which such Fund or its general partner grants the investor specific rights, benefits or privileges that are not generally made available to all investors. See “Item 8 - Methods of Analysis, Investment Strategies and Risk of Loss” below for additional information. For the Co-Investment Vehicles, NCP does not generally have full discretion to make investment decisions. Instead, the investors in such Co-Investment Vehicles retain discretion to make the initial commitment and/or investment decision, and subsequent to that initial decision NCP is generally responsible for managing the co-investment, subject to the applicable Governing Documents. NCP does not participate in wrap fee programs. As of December 31, 2023, NCP had regulatory assets under management of approximately $463,732,010, of which $213,856,034 was managed on a discretionary basis and $249,875,976 was managed on a non-discretionary basis.