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Adviser Profile

As of Date 03/29/2024
Adviser Type - Large advisory firm
Number of Employees 26 13.04%
of those in investment advisory functions 15 15.38%
Registration SEC, Approved, 5/2/2022
Other registrations (2)
Former registrations

RECOGNIZE PARTNERS LP

AUM* 1,438,552,467 8.64%
of that, discretionary 1,438,552,467 8.64%
Private Fund GAV* 1,438,552,467 8.64%
Avg Account Size 479,517,489 8.64%
SMA’s No
Private Funds 3
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
1B 1B 1B 844M 633M 422M 211M
2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count3 GAV$1,438,552,467

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Brochure Summary

Overview

Recognize, a Delaware limited partnership and a registered investment adviser, and its affiliated investment advisers provide investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere. Recognize provides investment advisory services to private investment funds (each, a “Fund,” and collectively, together with any future private investment fund to which Recognize and/or its affiliates provide investment advisory services, the “Funds”). To the extent Recognize provides services to one or more Funds, it establishes general partner entities or equivalent governing entities that are affiliated with Recognize (each, a “General Partner” and collectively, together with any future affiliated general partner entities, the “General Partners”). Each General Partner is subject to the Advisers Act pursuant to Recognize’s registration in accordance with SEC guidance. References herein to Recognize include the General Partners, unless the context requires otherwise. This Brochure also describes the business practices of the General Partners, which operate as a single advisory business together with Recognize. The Funds are private equity funds and invest through negotiated transactions in operating entities, generally referred to herein as “portfolio companies.” Recognize’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments. Although investments are made predominantly in non-public companies, investments in public companies are permitted. Where such investments consist of portfolio companies, the senior principals or other personnel of Recognize or its affiliates generally serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies in which the Funds have invested. Recognize’s advisory services to the Funds are detailed in the relevant private placement memoranda or other offering documents (each, a “Memorandum”), limited partnership or other operating agreements of the Funds (each, a “Partnership Agreement” and, together with any relevant Memorandum, the “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in the Funds (generally referred to herein as “investors” or “limited partners”) participate in the overall investment program for the applicable Fund, but in certain circumstances are excused from a particular investment due to legal, regulatory, tax or other agreed-upon circumstances pursuant
to the Governing Documents; for the avoidance of doubt, such arrangements generally do not and will not create an adviser-client relationship between Recognize and any investor. The Funds or the General Partners generally enter into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic or other terms) of, the Governing Documents with respect to such investors. Additionally, as permitted by the Governing Documents, Recognize expects to provide (or agrees to provide) investment or co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain investors or other persons, including other sponsors, market participants, finders, consultants, executives, founders, and other service providers, portfolio company management or personnel, Recognize personnel and/or certain other persons associated with Recognize and/or its affiliates. Such co-investments typically involve investment and disposal of interests in the applicable portfolio company at substantially the same time and on substantially the same terms as the Fund making the investment. However, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund) purchases a portion of an investment from one or more Funds after such Funds have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer), which generally will have been funded through Fund investor capital contributions and/or use of a Fund credit facility. Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment, but in certain instances could be well after the Fund’s initial purchase. Where appropriate, and in Recognize’s sole discretion, Recognize reserves the right to charge interest on the purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price under certain conditions), and to seek reimbursement to the relevant Fund for related costs. However, to the extent any such amounts are not so charged or reimbursed (including charges or reimbursements required pursuant to applicable law), they generally will be borne by the relevant Fund. As of December 31, 2023, Recognize managed $1,438,552,467 in client assets on a discretionary basis. Recognize Partners GP LLC acts as the general partner of Recognize. Recognize is controlled by Francisco D’Souza, Charles Phillips, and David Wasserman (collectively, the “Principals”), each a Co-Founder and Founding Managing Partner of Recognize.