9AT: ARDEA INVESTMENT MANAGEMENT

ARDEA INVESTMENT MANAGEMENT

other names

ARDEA INVESTMENT MANAGEMENT
ASSET MANAGER
ARDEA INVESTMENT MANAGEMENT PTY LIMITED

Adviser Profile

As of Date	09/26/2025
ADV Location	SYDNEY, NSW, Australia
Adviser Type - Large advisory firm - Outside the United States
Number of Employees	32 -26%
of those in investment advisory functions	26 8%
Registration	SEC, Approved, 03/19/2021

AUM^*	6,295,389,602 -58%
of that, discretionary	6,295,389,602 -58%
Private Fund GAV^*	0
Avg Account Size	572,308,146 -16%
SMA’s	Yes
Private Funds	0
Contact Info	61 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- State or municipal government entities
- Insurance companies
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

Reported AUM

17B 15B 12B 10B 7B 5B 2B

2021 2022

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Founded in 2008, Ardea Investment Management Pty Limited (“Ardea” or the “Firm”) is one of Australia’s largest fixed income managers. Located in Sydney, the Firm is primarily employee owned, with Fidante Partners (“Fidante”) maintaining a strategic position. The Firm is regulated by the Australian Securities and Investment Commission as well as being registered with the U.S. Securities and Exchange Commission (“SEC”) as an investment adviser. The Firm is a long term, fundamentally driven, value investor with a focus on liquidity and diversification. Advisory Services Ardea provides investment advisory services on a discretionary basis to offshore pooled investment vehicles (the “Offshore Funds”) and non-US separately managed accounts (the “SMAs”). Ardea also acts as a sub-adviser to one open- end investment company registered under the Investment Company Act of 1940 (the “US Client”). An unaffiliated manager serves as the investment adviser of the US Client. The Offshore Funds and SMAs, together with the US Client, are referred herein each as a “client” and collectively as the Firm’s “clients.” Certain personnel of a non-U.S. affiliate of the Firm provide investment advice and other services to the

US Client, pursuant to a participating affiliate agreement. This affiliate, Ardea Investment Management (UK) Limited, is deemed to be a “Participating Affiliate” of the Firm and such personnel are deemed to be “Associated Persons” of the Firm. The Participating Affiliate is not separately registered as an investment adviser in reliance on an SEC No-Action Letter (Uniao de Bancos de Brasileiros S.A., pub. avail. July 28, 1992) and related SEC guidance. The investment objective and strategy for each client is fully described in the relevant offering document or investment management agreement. Ardea’s investment advisory services are provided directly to the Offshore Funds and US Client and are not tailored to any individual underlying investors of these clients. The Firm manages the SMAs in accordance with negotiated guidelines and restrictions regarding investments and other investment criteria. These guidelines and restrictions are reflected in the investment management agreement between the Firm and the SMA. The US Client is currently the only client in which US investors may invest. The total amount of assets managed on a discretionary basis is approximately $15,022,536,212. The Firm does not manage any assets on a non-discretionary basis.