Our Firm
Starr Private Equity Partners, LLC (“Starr PEP” or the “Firm”) is a Delaware limited liability
company that was formed in May 2018. Starr PEP is wholly-owned by C.V. Starr & Co., Inc., a
private holding company with a substantial portfolio of global investments. C.V. Starr Ownership
Co., LLC (“Starr Ownership”) is the sole principal owner of C.V. Starr & Co., Inc.’s voting
securities and is controlled by its board of managers as disclosed in Schedule B of Starr PEP’s
Form ADV Part 1A. Members of Starr Ownership’s board of managers do not direct the
management, policies or investment advisory activities of Starr PEP.
Nature of Our Clients
Starr PEP together (where the context permits) with its affiliates provide non-discretionary
investment advisory services to clients including pooled investment vehicles (the “Funds”, or
individually a “Fund”). Such affiliates may be formed from time to time for tax, regulatory or
other purposes in connection with the organization of the Funds or may serve as general partners
or managing members of the Funds. Starr PEP currently provides non-discretionary investment
advice to C. V. Starr & Co., Inc. and C. V. Starr & Co., Inc. Trust (collectively, “C. V. Starr”),
and to Starr International Company, Inc. and its subsidiaries (collectively, “Starr International”,
and, together with C.V. Starr, “Starr”), which may be through the Funds (Starr together with the
Funds, “Clients”). Investors in the Funds (“Investors”) include Starr and may include ultra-high
net worth family offices and ultra-high net worth individuals. Starr PEP also provides investment
management services to the Funds formed in connection with an investment in a specific portfolio
company, companies, or a specific private equity fund or funds.
Types of Advisory Services Offered
Starr PEP recommends, on a non-discretionary basis, investments in other private equity funds and
co-investments to its Clients. For investments in other private equity funds, Starr PEP identifies
fund managers (“Managers”) who are raising capital and/or whose investment strategies align with
Starr PEP. For both co-investments and investments in other private equity funds, the Starr PEP
deal team prepares an Investment Committee recommendation outlining the merits and concerns
of the potential investment as well as what the team learned in the due diligence process. Clients
then assess those recommendations and make independent decisions whether to invest in a
particular transaction. Starr PEP structures and negotiates the transaction on behalf of its clients.
After an investment is made, Starr PEP monitors the investment by speaking
with Managers and
management of the company, as well as analyzing financial statements and quarterly reports.
Additionally, Starr PEP typically attends the annual meetings of its Mangers and tracks the
financial performance of the underlying funds and direct investments. For some private equity
fund investments, a Starr PEP investment professional will be a member of the advisory board.
On a quarterly basis, Starr PEP conducts a valuation of its direct investment portfolio.
For investments where Starr PEP may cause a sale or exit transaction for Starr, Starr PEP forms
investment recommendations for Starr, and Starr then assesses those recommendations and makes
independent decisions whether to sell or exit the transaction.
The Funds invest in portfolio companies and portfolio funds through privately negotiated
investment instruments, and may involve unregistered equity securities and/or debt securities.
Portfolio companies and portfolio funds may be leveraged. When prudent and consistent with
the investment objectives and restrictions of its clients, Starr PEP may also make other types of
investments, including, but not limited to, investments to hedge illiquid long equity exposure,
foreign currency exposure, interest rate exposure, or other investment risks.
Starr PEP may also monitor and provide investment advice to Starr with respect to Starr’s
diversified investment portfolios, which may include marketable and privately-issued equity
securities, taxable and tax-exempt fixed income securities, registered investment companies, direct
real estate investments and investments in alternative investment funds (including hedge funds,
private equity funds, private debt funds and real estate funds).
In providing services to each Fund, Starr PEP formulates the investment objective for each Fund,
directs and manages the investment and reinvestment of each Fund’s assets, and provides periodic
reports to investors in each Fund. Investment advice is provided directly to each Fund and not
individually to the Investors in the Fund. Starr PEP manages the assets of each Fund in accordance
with the terms of the governing documents applicable to each Fund.
Starr PEP also provides administrative services to Starr for which Starr PEP tracks and reports on
certain other investments made by Starr. Starr PEP does not provide any investment advice with
regards to these investments (“Assets under Administration”).
Wrap Fee Programs
Starr PEP does not participate in wrap fee programs.
Assets Under Management
As of December 31, 2023, Starr PEP had regulatory assets under management of
$3,808,009,604.32 on a non-discretionary basis.