FIRM DESCRIPTION
Condire Management, LP, a Texas limited partnership and private investment advisory firm (“Condire” or “we,” “us,”
or “our”), is the management company associated with Condire Investors, LLC (“Condire Investors”), the General
Partner of the funds Condire advises. Condire Investors was organized in 2012 to be the general partner in several
funds directed by Ryan Schedler and Brad Shisler (the “Condire Principals”), and was formerly a wholly owned
subsidiary of CPMG, Inc. (“CPMG”, a registered investment adviser). Effective December 31, 2020, the Condire
Principals concluded their employment with CPMG and assumed control of Condire and Condire Investors as part of
a transition plan agreement between us and CPMG. As of January 1, 2021, we operate independent of CPMG.
We provide investment management services with respect to affiliated private pooled investment vehicles and
generally have full discretionary authority with respect to investment decisions. Our investment advisory services are
provided in accordance with the investment objectives and guidelines set forth in the applicable offering, governing
and/or account documents, and the information in this brochure is qualified in its entirety by the information set forth
in such documents.
PRINCIPAL OWNERS
The controlling members of Condire are Ryan E. Schedler and Bradley J. Shisler.
TYPES OF ADVISORY SERVICES
We serve as investment manager to the following affiliated private pooled investment vehicles: Condire Resource
Partners, LP, a Texas limited partnership (the “Domestic Fund”), Condire Resource Offshore Partners, Ltd., a Cayman
Islands exempted company (the “Offshore Fund” and, together with the Domestic Fund, the “Feeder Funds”), Condire
Resource Master Partnership, LP, a Cayman Islands exempted limited partnership (the “Master
Fund” and, together
with the Feeder Funds, collectively, the “CRP Funds”), as well as, Condire Alpha Partners, LP, a Texas limited
partnership (“Condire Alpha”). In addition, we serve as investment manager to Silver Teal, LP, a Texas limited
partnership (“Silver Teal (together with CRP Funds and Condire Alpha, the “Funds” and each a “Fund”). One of our
affiliates serves as the general partner of the Domestic Fund, the Master Fund, Condire Alpha and Silver Teal. Each
of the Feeder Funds invests all or substantially all of its assets in, and conducts its investment activities through, the
Master Fund. Accordingly, the Master Fund serves as a centralized investment vehicle for the Feeder Funds and an
investment in a Feeder Fund is an indirect investment in the Master Fund.
We serve as investment manager with respect to each of the Funds and are responsible for investing and re-investing
the assets of each Fund in securities, financial instruments and/or other assets in accordance with the investment
objectives, policies and guidelines set forth in the applicable offering memoranda and/or governing documents. See
Item 8 below.
We provide investment advice to the Funds in accordance with the investment objectives, policies and guidelines set
forth in the offering and governing documents, and not in accordance with the individual needs or objectives of any
particular investor in the Funds. Investors generally are not permitted to impose restrictions or limitations on the
management of the Funds.
ASSETS UNDER MANAGEMENT
Condire had approximately $1,237,949,965 in regulatory assets under management as of December 31, 2023. This
amount consisted of $1,126,838,746 in CRP Funds, $60,738,260 in Condire Alpha and $50,372,959 within Silver
Teal. All regulatory assets under management are managed on a discretionary basis.