Argonaut Private Capital, LP (“Argonaut” or the “Company”) is an investment advisory firm based in
Tulsa, Oklahoma, that was founded in 2016 to manage private equity investments in the industrial
and services sectors. Argonaut targets private equity investment opportunities in the historically
underserved “Middle America” market region. The Company is wholly owned by Steven R. Mitchell.
Prior to founding Argonaut, the investment team that makes up Argonaut operated since 2002 as a
business unit that provided investment advisory services to various businesses, trusts, charitable
foundations and similar vehicles on behalf of the George Kaiser family (the “Family Entities”). In
connection with a business initiative to begin offering investment advisory services to third party
investors, Argonaut was organized and registered with the SEC as an investment adviser under the
Investment Advisers Act of 1940, as amended (the “Advisers Act”) in 2016. In addition to continuing
to manage assets on behalf of the Family Entities, Argonaut sponsors several private equity funds
(together with any future private equity funds sponsored by Argonaut and any alternative
investment vehicles formed to accommodate certain investors in the funds, the “Funds”).
As the investment adviser to each Fund, Argonaut invests the Fund’s assets pursuant to an
investment advisory agreement that the Fund has entered into with the Company, and in accordance
with the Fund’s limited partnership agreement and other governing documents, as the same may be
amended from time to time (the “Fund Governing Documents”). Argonaut tailors its investment
advisory
activities to comply with the investment objectives, guidelines and restrictions set forth in
each Fund’s Governing Documents, but does not tailor its investment advisory activities on behalf of
the Funds to the needs of any individual investors in the Funds.
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 the Fund or its
general partner grants the investor specific rights, benefits or privileges that are not generally made
available to all investors. The terms of such “side letters” or similar agreements are generally not
disclosed to other investors in the Fund, except to investors that have separately negotiated for the
right to review such agreements. See “Item8–MethodsofAnalysis,InvestmentStrategiesandRiskof
Loss” for additional details.
As investment adviser to the Family Entities, Argonaut recommends investments in various private
equity investment opportunities and, if approved, executes and manages such investment
opportunities on behalf of the Family Entities. Argonaut tailors these investment advisory services
to the individual circumstances of each of the Family Entities based on various factors, including,
without limitation, investment objective, available capital, taxes and other considerations.
As of December 31, 2023, Argonaut had approximately $3,464 million in regulatory assets under
management, of which approximately $2,111 million were managed on a discretionary basis and
approximately $1,353 million were managed on a non-discretionary basis.