9AT: SAAS CAPITAL, LLC

other names

SAAS CAPITAL, LLC

Adviser Profile

As of Date	03/31/2025
ADV Location	CINCINNATI, OH, United States
Adviser Type - Large advisory firm
Number of Employees	9 29%
of those in investment advisory functions	6 20%
Registration	SEC, Approved, 08/10/2022
Other registrations (1)	SEC, ERA - Withdrawn, 07/11/2022
Former registrations	SAAS CAPITAL, LLC

AUM^*	183,432,693 5%
of that, discretionary	183,432,693 3%
Private Fund GAV^*	321,022,693 75%
Avg Account Size	20,381,410 -31%
SMA’s	No
Private Funds	11 4
Contact Info	303 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 TypeOther Private Fund	Count11	GAV$321,022,693

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 SEVEN CANYONS ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund48.8m	Total Private Fund GAV48.8m	AUM121.6m	#Funds2
Adviser KESTREL INVESTMENT MANAGEMENT CORP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund15.9m	Total Private Fund GAV15.9m	AUM185.6m	#Funds1
Adviser REVERE CAPITAL MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund96.5m	Total Private Fund GAV96.5m	AUM96.5m	#Funds4
Adviser GMG PRIVATE COUNSEL ULC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM192.6m	#Funds-
Adviser CINTRIFUSE CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund4.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund172.8m	Total Private Fund GAV177.3m	AUM177.3m	#Funds5
Adviser KEMPNER CAPITAL MANAGEMENT, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund80.4m	Total Private Fund GAV80.4m	AUM218.3m	#Funds1
Adviser CANDIDE GROUP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM174.7m	#Funds-
Adviser STOCK FARM PARTNERS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund136.5m	Total Private Fund GAV136.5m	AUM136.5m	#Funds3
Adviser SOLPACIFIC, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund133.8m	Total Private Fund GAV133.8m	AUM133.8m	#Funds3
Adviser MASON CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund83.5m	Total Private Fund GAV83.5m	AUM202.0m	#Funds2

Brochure Summary

Overview

Background and Ownership This Brochure provides information about the business practices of SaaS Capital, LLC (“SaaS Capital” or “Management Company”). SaaS Capital and its affiliated advisers provide investment advisory services to private investment funds (hereinafter referred to individually as a “Fund” or collectively as the “Funds”). SaaS Capital was founded in 2007. A separate entity established by SaaS Capital serves as the general partner to each of the Funds, and each such general partner is included in this Form ADV as a relying adviser. SaaS Capital is owned and controlled by Robert Belcher. Mr. Belcher owns less than 75% and Todd Gardner owns less than 50% of SC GP III, LLC which serves as general partner to SaaS Capital Fund III, LP and SaaS Capital Fund QP Fund III, LP. Mr. Belcher owns less than 75% and Steven Jaffee owns less than 50% of SC GP III(B), LLC which serves

as general partner to SaaS Capital Fund III(B), LP and SaaS Capital Fund QP Fund III(B), LP. Mr. Belcher, Mr. Jaffee, Randall Lucas, and Stephanie Fortener each own less than 25% of SC GP IV, LLC which serves as general partner to SaaS Capital Fund IV and SaaS Capital QP Fund IV. Funds The Funds are all debt funds and managed in accordance with the investment objectives, strategies and guidelines set forth in their respective Private Placement Memorandums (each a “PPM”). This document is not tailored to each individual investor in the Funds and therefore it is up to the investor to consider whether a Fund meets their investment objectives and risk tolerance prior to investing. Assets Under Management As of December 31, 2023, SaaS Capital managed approximately $174,258,068 in total regulatory assets under management, all of which is managed on a discretionary basis.

SAAS CAPITAL, LLC

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Overview