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Adviser Profile

As of Date 07/16/2024
Adviser Type - Large advisory firm
Number of Employees 9
of those in investment advisory functions 9
Registration SEC, Approved, 7/26/2018
Other registrations (1)
AUM* 618,732,666 -12.61%
of that, discretionary 618,732,666 -12.61%
Private Fund GAV* 618,732,666 -12.23%
Avg Account Size 68,748,074 -12.61%
SMA’s No
Private Funds 9
Contact Info 212 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

Recent News

Reported AUM

Discretionary
Non-discretionary
712M 611M 509M 407M 305M 204M 102M
2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count9 GAV$618,732,666

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Brochure Summary

Overview

A. Describe your advisory firm, including how long you have been in business. Identify your principal owner(s). Soundcore Capital Partners, LLC (“Soundcore”), together with its funds’ general partners, relying adviser and affiliates, unless otherwise specified (“Soundcore” or the “Firm”), a Delaware limited liability company, is a private equity firm based in New York City. Founded in early 2015 to make control equity investments and buyouts of attractive lower middle market North American (U.S. or Canada) headquartered businesses, Soundcore’s thesis-driven, buy-and-build investment strategy focuses primarily on what Soundcore believes to be healthy businesses with recurring revenues and high margins in the business services, specialty distribution and value-added manufacturing sectors. Soundcore serves as the investment adviser for and provides discretionary investment advisory services to both special purpose vehicles created to invest in a portfolio company (“Pre-Fund Investments”) and to private funds (unless the context otherwise denotes, collectively, the “Funds”). Soundcore is not making new investments at this time and is in the process of winding down the Funds. For more information about the Funds, please see Soundcore’s Form ADV Part 1, Schedule D, Section 7.B.(1). The relying adviser, Soundcore Capital Partners Management, LLC, provides investment advisory services to the Pre-Fund Investments and the registrant, Soundcore Capital Partners, LLC, provides investment advisory services to the Funds. Each Fund is affiliated with a general partner (“General Partner”) with authority to make investment decisions on behalf of the Funds. These General Partners are deemed registered under the Investment Advisers Act of 1940, as amended (“Advisers Act”), pursuant to Soundcore’s registration in accordance with SEC guidance. The applicable General Partner retains investment discretion and limited partners in the Funds do not participate in the control or management of the Funds. While the General Partners maintain ultimate authority over the respective Funds, Soundcore has been designated the role of investment adviser. For more information about the General Partners, please see Soundcore’s Form ADV Part 1, Schedule D, Section 7.A. Principal Owners/Ownership Structure Soundcore is owned by Managing Partners Jarrett Turner and Feliks Zarotsky. For more information about Soundcore’s owners and executive officers, please see Soundcore’s Form ADV Part 1, Schedule A and Schedule R. B. Describe the types of advisory services you offer. If you hold yourself out as 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. Soundcore provides investment advisory services as a private equity fund manager to its Funds. The Funds invest through privately negotiated transactions in operating companies, referred to as “portfolio companies”, in the business services, specialty distribution and value-added manufacturing sectors. Each portfolio company has its own independent management team responsible for managing its day-to-day operations, although the senior principals or other personnel and/or third parties appointed by Soundcore will generally serve on the portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies held by the Funds. In addition, in some cases, Soundcore more directly influences the day-to-day management of portfolio companies by recruiting and installing certain individuals in various leadership roles, such as chief executive officer, chief operating officer, chief financial officer or other roles. Upon the purchase of each investment, for administrative efficiency purposes
Soundcore installs (i) its Chief Financial Officer in the role of interim chief financial officer of each portfolio company and (ii) a member of the Soundcore team as de facto “president”, “secretary” or “treasurer” of the portfolio company, which such title typically remains with the Soundcore individual for the duration of Soundcore’s ownership. Neither Soundcore nor the Chief Financial Officer are paid for such services. Soundcore’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investment, managing and monitoring investments and achieving dispositions of investments. Investments are made predominantly in nonpublic companies, although investments in public companies are permitted in certain instances. Currently, Soundcore’s investment advisory services focus on managing the portfolio companies to disposition. C. Explain whether (and, if so, how) you tailor your advisory services to the individual needs of clients. Explain whether clients may impose restrictions on investing in certain securities or types of securities. Soundcore does not tailor its advisory services to the individual needs of limited partners in its Funds; the Firm’s investment advice and authority for each Fund is tailored to the investment objectives of that Fund. These objectives are described in and governed by the private placement memorandum, limited partnership agreement, investment advisory agreements, side letter agreements and other governing documents of the relevant Fund (collectively, “Governing Documents”). With the exception of the Pre-Fund Investments, the Firm does not seek or require limited partner approval regarding each investment decision. With the exception of the Pre-Fund Investments, limited partners generally cannot impose restrictions on investing in certain securities or types of securities, other than through side letter agreements. Limited partners in the Funds, but not the Pre-Fund Investments, participate in the overall investment program for the applicable Fund and generally cannot be excused from a particular investment except in certain circumstances pursuant to the terms of the applicable Governing Documents. One Pre- Fund limited partner has negotiated certain veto rights with respect to the Pre-Fund Investments in which it has invested. In accordance with industry practice, Soundcore has entered into side letters or similar agreements with certain limited partners who make substantial commitments of capital or were early-stage limited partners in the Funds, or for other reasons in the sole discretion of Soundcore, in each case that have the effect of establishing rights (including preferential economic terms) under, or altering or supplementing, a Fund’s Governing Documents. Such side letters are negotiated at the time of the relevant limited partner’s commitment, and once invested in a Fund, with the exception of the Pre- Fund Investments, limited partners generally cannot impose additional investment guidelines or restrictions on such Fund. There can be no assurance that the side letter rights granted to one or more limited partners will not in certain cases disadvantage other limited partners. D. If you participate in wrap fee programs by providing portfolio management services, (1) describe the differences, if any, between how you manage wrap fee accounts and how you manage other accounts, and (2) explain that you receive a portion of the wrap fee for your services. Soundcore does not participate in wrap fee programs. E. If you manage client assets, disclose the amount of client assets you manage 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 December 31, 2023, Soundcore managed $618,732,666 in Fund regulatory assets under management, all managed on a discretionary basis. Soundcore does not manage any investments on a non-discretionary basis.