9AT: 424 CAPITAL, LLC

other names

424 CAPITAL, LLC
BROOK CAPITAL PARTNERS, LLC
BROOK CAPITAL PARTNERS

Adviser Profile

As of Date	03/28/2025
ADV Location	WAKEFIELD, MA, United States
Adviser Type - Large advisory firm
Number of Employees	20 11%
of those in investment advisory functions	16 14%
Registration	SEC, Approved, 08/03/2022
Other registrations (2)	SEC, ERA - Withdrawn, 06/30/2022 Massachusetts, ERA - Withdrawn, 06/30/2022
Former registrations	424 CAPITAL, LLC

AUM^*	396,669,303 91%
of that, discretionary	396,669,303 91%
Private Fund GAV^*	444,506,067 49%
Avg Account Size	44,074,367 113%
SMA’s	No
Private Funds	9 1
Contact Info	781 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count7	GAV$405,638,133
Fund TypeVenture Capital Fund	Count1	GAV$
Fund TypeOther Private Fund	Count1	GAV$38,867,934

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser PINEGROVE VENTURE PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund17.3b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund2.2b	Other Fund1.5b	Total Private Fund GAV23.1b	AUM11.7b	#Funds91
Adviser AQUILINE HOLDINGS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM9.6b	#Funds-
Adviser CORE CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.2b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund18.6m	Other Fund57.7m	Total Private Fund GAV1.3b	AUM1.3b	#Funds9
Adviser VEDANTA MANAGEMENT, LP	Hedge Fund11.5m	Liquidity Fund-	Private Equity Fund439.2m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund18.3m	Other Fund5.7m	Total Private Fund GAV493.0m	AUM358.6m	#Funds17
Adviser INTREPID INVESTMENT MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund286.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund20.7m	Other Fund-	Total Private Fund GAV327.4m	AUM306.7m	#Funds11
Adviser VANTERRA CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund336.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund103.0m	Other Fund-	Total Private Fund GAV542.4m	AUM439.4m	#Funds12
Adviser HEALTH CATALYST CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund348.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund10.0m	Other Fund103.8m	Total Private Fund GAV471.8m	AUM348.0m	#Funds8
Adviser REV1 VENTURES	Hedge Fund-	Liquidity Fund-	Private Equity Fund102.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund23.0m	Other Fund-	Total Private Fund GAV148.4m	AUM-	#Funds11
Adviser COVEMARK INVESTMENT MANAGER LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund16.8m	Real Estate Fund1.3m	Securitized Asset Fund-	Venture Capital Fund29.0m	Other Fund-	Total Private Fund GAV76.1m	AUM-	#Funds18
Adviser BEHRENS INVESTMENT GROUP MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund44.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund13.4m	Other Fund-	Total Private Fund GAV70.9m	AUM-	#Funds4

Brochure Summary

Overview

Firm Overview 424 Capital, LLC (“424”) is an asset management firm providing services to private pooled investment vehicles. 424 Capital, LLC was originally founded under the name of its predecessor in 1998 as Brook Venture Management, Inc (“BVM, Inc”). In 2019, 424 Capital LLC completed an organizational spin-out and became an independent firm. 424 Capital LLC is headquartered in Wakefield, Massachusetts and is registered as an investment adviser in accordance with SEC guidance under the Investment Advisers Act of 1940, as amended. 424 Capital, LLC and Brook Venture Management, Inc (collectively the “Adviser” or “Firm”) are under common control and operate as a single advisory business. Firm Ownership 424 Capital, LLC is owned by Principals/Managing Partners Walter Beinecke, Brennan Mulcahey, and Kyle Stanbro (“Managing Partners”). Brook Venture Management, Inc is owned by Principal Walter Beinecke. Firm Offerings The Adviser provides discretionary portfolio management services to private pooled investment vehicles (the “Private Investment Funds”) in accordance with the investment guidelines set forth in each Private Investment Fund’s

applicable limited partnership agreements, investment management agreements, operating agreements, offering memoranda, and other such agreements (the “Governing Documents”). The Firm is responsible for the investment decisions and performance of the Private Investment Funds. The Firm does not tailor its investment advice to the needs of investors in the Private Investment Funds. Investors are required to meet certain suitability requirements, such as being an “Accredited Investor”, a “Qualified Client” and/or a “Qualified Purchaser” as defined under federal laws. Investors interested in a Private Investment Fund should refer to the Private Investment Fund’s Governing Documents for important information regarding the Private Investment Fund’s investment objectives, risks, fees, and additional disclosures for a complete understanding of the terms and conditions for investing in the relevant Private Investment Fund. Wrap-Fee Program The Adviser does not participate in any wrap fee programs. Assets Under Management As of December 31, 2023, the Adviser had $297,918,744 of regulatory assets under management. All assets are managed on a discretionary basis.

424 CAPITAL, LLC

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Brochure Summary

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