Overview
BHMS Investments, LP (“BHMS” or “the Firm”) is a Westport, CT based private equity investment
firm focused on the North American lower middle-market. Founded in 2010, BHMS is owned by
Managing Partners Kevin L. Angelis and Robert L. Salamon. The Firm employs eight professionals
primarily based in Westport, CT, with three employees working remotely.
The Firm, through wholly-owned subsidiaries, (collectively with BHMS, the “Investment
Managers”)1 provide investment advisory services to private investment funds (collectively, the
“Funds”), including co-investment vehicles that invest alongside other Funds in certain investments.
The Funds are privately-offered, pooled investment vehicles that are exempt from registration under
the Investment Company Act of 1940. The Funds are typically structured as limited partnerships,
and an affiliate of the Firm serves as the general partner of each Fund (the “General Partners”).
1 BHMS provides advisory services through one or more wholly owned subsidiary investment management entities. For
ease of reference, such entities are collectively referred to herein as the “Investment Managers.”
Funds may also be structured as limited liability companies or other entities, with an affiliate of the
Firm serving as the manager, managing member, or other management role analogous to a general
partner, manager, or managing member. Investment advisory services provided by the Investment
Managers
to the Funds are provided directly to each Fund and not individually to the limited
partners or analogous investors of a Fund (generally referred to in this document as investors). The
Investment Managers serves as the investment adviser with discretionary authority to implement
investment decisions for each Fund to which it provides investment advisory services. The
Investment Managers’ investment decisions and advice with respect to its clients are in accordance
with the investment objectives and restrictions set forth in the limited partnership agreement or other
applicable governing documents of each Fund (the “Governing Documents”) and, where applicable,
any side letters that a Fund executes with such Fund’s investors. The Investment Managers and the
General Partners to the Funds also provide administrative and management services to the Funds.
As of December 31, 2023, the Firm managed $664,787,611 in regulatory assets under management,
which is managed on a discretionary basis.
The descriptions of the Funds in this brochure, including the type of investments made, the
investment strategies utilized, the fees charged to investors, the expenses incurred by investors, the
risk factors, and the conflicts of interests that may arise in management of the Funds, or in the
selection of investments are qualified in their entirety by reference to each of the Fund’s Governing
Documents provided to investors.