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Adviser Profile

As of Date 03/29/2024
Adviser Type - Large advisory firm
Number of Employees 13
of those in investment advisory functions 10
Registration SEC, Approved, 7/7/2015
Other registrations (1)
AUM* 567,350,000 12.19%
of that, discretionary 567,350,000 12.19%
Private Fund GAV* 559,687,000 12.53%
Avg Account Size 94,558,333 12.19%
SMA’s Yes
Private Funds 6
Contact Info 781 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Other

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
506M 433M 361M 289M 217M 144M 72M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count6 GAV$559,687,000

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Brochure Summary

Overview

Identify your principal owner(s). Hastings Equity Partners, LLC (the “Hastings”) is a Delaware limited liability company founded in 2004. Hastings is headquartered in Massachusetts. The principal owner of Hastings is Edward (Ted) Patton. Hastings is led by Ted Patton and Joseph Conlon (the “Managing Directors”). Hastings is a private asset management firm investing in U.S. lower middle market companies with a focus on business services, manufacturing, and industrial industries. Hastings provides discretionary investment advisory services to private investment funds (each, a “Fund,” or collectively, the “Funds”) and co-investment vehicles (each, a “Co-Investment Vehicle,” or collectively, the “Co-Investment Vehicles” and together with the Funds, the “Clients”). Typically, affiliates of Hastings serve as the respective general partners of the Funds and Co-Investment Vehicle. Each of the affiliated general partners (“Advisory Affiliates”) is a related person of Hastings and under common control with Hastings. Each Advisory Affiliate retains management authority over the business and affairs of the Fund and Co-Investment Vehicle for which it serves as general partner but delegates its investment discretion to Hastings. It should be noted that Hastings does not receive any management fees or performance allocation directly from the Co-Investment Vehicle. However, each Co-Investment Vehicle (as defined below) is considered a Client for purposes of this Brochure. specializing in a particular type of advisory service, such as financial planning, quantitative analysis, or market timing, explain the nature of that service in greater detail. If you provide investment advice only with respect to limited types of investments, explain the type of investment advice you offer, and disclose that your advice is limited to those types of investments. Hastings provides discretionary investment advisory services to its Clients. Such services consist of investigating, identifying, and evaluating investment opportunities, structuring, negotiating, and making investments on behalf of the Clients, managing and monitoring the performance of such investments, and disposing of such investments. The Clients invest in private company securities (“Portfolio Companies”). individual needs of clients. Explain whether clients may impose restrictions on investing in certain securities or types of securities. Hastings does not tailor its advisory services to the individual needs of investors (“Investors”) in the Funds or Co-Investment Vehicle, nor does it accept
Investor- imposed investment restrictions. Hastings’ investment decisions and advice with respect to each Client are subject to each Client’s investment objectives and guidelines. Hastings has broad and flexible investment authority with respect to Clients. All relevant information about the Clients, including the terms and investment objectives and strategies applicable to the Client, are set forth in the confidential private offering memorandum, limited partnership agreement (if applicable), and subscription agreement (the “Governing Documents”), which each Investor is required to receive and/or execute prior to being accepted as an Investor in a Fund or Co-Investment Vehicle. An Advisory Affiliate has entered into “side letters” or similar agreements with certain investors pursuant to which the Advisory Affiliate grants the investor specific rights, benefits, or privileges that are not made available to investors generally. An Advisory Affiliate may enter into additional “side letters” or similar agreements in the future. services, (1) describe the differences, if any, between how you manage wrap fee Funds and how you manage other Funds, and (2) explain that you receive a portion of the wrap fee for your services. Hastings does not participate in wrap fee programs. on a discretionary basis and the amount of client assets you manage on a non- discretionary basis. Disclose the date “as of” which you calculated the amounts. As of the date of this Brochure, Hastings provides advisory and asset management services to Hastings Equity Fund III, L.P. (“Fund III”), Hastings Equity Fund IV (comprised of Hastings Equity Fund IV-A, L.P. and Hastings Equity Fund IV-B, L.P.) (collectively, “Fund IV”) and Hastings Equity Fund V (comprised of Hastings Equity Fund V, L.P and Hastings Equity Fund V-B, L.P.) (collectively, “Fund V”). Hastings advises a co-investment vehicle, Hastings Affiliates 2013, LLC, which was formed to make equity and equity related investments on a side-by-side basis with Fund III. Hastings also advises a separately managed account that is treated as a Fund of one. Fund III is classified as a 3(c)(1) fund and Fund IV and Fund V are classified as 3(c)(7) funds, all of which are exempt from registration from the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the securities of the Funds are not registered under the Securities Act of 1933, as amended (the “Securities Act”). As of December 31, 2023, Hastings had approximately $567,350,000 of discretionary regulatory assets under management.