9AT: LEDGER ILS MANAGERS, LLC

LEDGER ILS MANAGERS, LLC

other names

LEDGER ILS MANAGERS, LLC

Adviser Profile

As of Date	12/04/2025
Registration status	Terminated
ADV Location	NEW YORK, NY, United States
Contact Info	510 xxxxxxx

AUM^*	32,069,021 -69%
of that, discretionary	32,069,021 -46%
Private Fund GAV^*	0 -100%
Avg Account Size	32,069,021 -37%
SMA’s	No
Private Funds	0

Adviser Type

- Mid-sized advisory firm

Number of Employees 4

of those in investment advisory functions 2

Client Types

- Other

Advisory Activities

- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

152M 130M 108M 87M 65M 43M 22M

2021 2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Brochure Summary

Overview

Ledger ILS Managers, LLC, a Delaware limited liability company (“ Ledger ” or the “ Adviser ”), formed on July 9, 2021 acts as the investment Advisor to funds (the “ Funds ”) and separately managed accounts (“SMAs”) which may invest in Funds (collectively “Clients”). Ledger is responsible for the investment and management of Client assets, subject to the policies and supervision of the Funds’ Boards of Directors (the “ Board of Directors ,” and each member thereof, a “ Director ”), as applicable. Ledger had $309.4 million in regulatory assets under management as of December 31, 2023. The Adviser is a wholly owned subsidiary of Ledger Investing, Inc. (“ Ledger Investing ”). Ledger Investing is an insurtech company founded in 2016. Ledger Investing has led the expansion of the insurance-linked securities (“ILS”) market to non-catastrophe insurance

risk by building a platform that offers risk transparency and a standardized and efficient structure for connecting risk to capital. In addition to the Adviser, Ledger Investing’s operating affiliates include: (1) Ledger Re SPC, a Cayman Islands exempted segregated portfolio company formed in 2023 that holds a Class B(iii) insurer’s license under the Cayman Islands Insurance Act, 2010 (as amended); (2) Ledger Risk Markets, LLC, a Delaware limited liability company formed in 2023 that holds a producer license to act as a reinsurance intermediary under Section 2106 of the Insurance Law (New York); and (3) Ledger Capital Markets, LLC, a Delaware limited liability company formed in 2017 that is a securities broker-dealer registered with the SEC and member of FINRA and SIPC. Samir Shah is the Chief Executive Officer of Ledger Investing, Ledger Re SPC, and the Adviser.