SKKY Partners, LP, a Delaware limited partnership and a registered investment adviser (the “Adviser”), and its
affiliated investment advisers provide investment advisory services to investment funds privately offered to qualified
investors in the United States and elsewhere. The Adviser commenced operations in September 2022.
The Adviser’s clients include the following (each, a “Fund,” and collectively, together with any future private
investment fund to which the Adviser and/or its affiliates provide investment advisory services, the “Funds”):
SKKY Partners Fund I, LP (the “Main Fund”);
SKKY Partners Fund I-A, LP (the “Blocker Fund” and together with the Main Fund, “Fund I”);
SKKY Sauce SPV I, LP (the “Main Sauce SPV”); and
SKKY Sauce SPV I-A, LP (the “Blocker Sauce SPV” and together with the Main Sauce SPV, the “Sauce
SPV”).
The following general partner entities are affiliated with the Adviser:
SKKY Partners GP I, LP; and
SKKY Sauce GP I, LP;
(each, a “General Partner,” and collectively, together with any future affiliated general partners entities, the “General
Partners,” and together with the Adviser and their affiliated entities “SKKY”).
Each General Partner is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with SEC
guidance. This Brochure also describes the business practices of each General Partner, which operate as a single
advisory business together with the Adviser.
The Funds are private equity funds and invest through negotiated transactions in operating entities, generally referred
to herein as “portfolio companies.” The Adviser’s investment advisory services to the Funds consist of identifying
and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments
and achieving dispositions for such investments. Where such investments consist of portfolio companies, the senior
principals or other personnel of the Adviser 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.
The Adviser’s advisory services to the Funds are detailed in the relevant private placement memoranda or other
offering documents (each, a “Memorandum”) limited partnership or other operating agreements of the Funds (each, a
“Partnership Agreement” and, together with any relevant Memorandum, the “Governing Document”) and are further
described below under “Method of Analysis, Investment Strategies and Risk of Loss.” Investors in the Funds
(generally referred to herein as “investors” or “limited partners”) participate in the overall investment program for the
applicable Fund, but in certain circumstances are excused from a particular investment due to legal, regulatory or other
agreed-upon circumstance pursuant to the Governing Documents; for the avoidance of
doubt, such arrangements
generally do not and will not create an adviser-client relationship between the Adviser and any investor. The Funds
or the General Partners generally enter into side letters or other similar agreements (“Side Letters”) with certain
investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic
or other terms) of, the Governing Documents with respect to such investors.
Additionally, as permitted by the Governing Documents, the Adviser expects to provide (or agree to provide)
investment or co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain
current or prospective investors or other persons, including other sponsors, market participants, finders, consultants
and other service providers, portfolio company management or personnel, Operations Group Members (as defined
below), senior advisors, Adviser personnel and/or certain other persons associated with the Adviser and/or its affiliates
alongside a particular Fund’s transactions. Such 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 (e.g.,
a vehicle formed by the Adviser’s principals to co-invest alongside a particular Fund). Such 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, for strategic and other reasons, a co-investor or co-invest vehicle
(including a co-investing Fund) purchases 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), which
generally will have been funded through Fund investor capital contributions and/or use of a Fund credit facility. 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 an Adviser’s sole
discretion, such Adviser reserves the right to charge interest on the purchase to the co-investors 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 any such amounts are not so charged or reimbursed (including
charges or reimbursements required pursuant to applicable law), they generally will be borne by the relevant Fund.
As of March 1, 2024, SKKY managed $121 million in client assets on a discretionary basis. SKKY Partners
Management GP, LLC, a Delaware limited liability company, acts as the general partner of the Adviser. The Adviser
is primarily controlled by Jay Sammons and Kim Kardashian.