AEA Investors LP, collectively with its affiliates and predecessor companies, has been sponsoring
and managing private investment funds and providing investment advice since 1968. AEA
Investors LP is a privately held limited partnership controlled by AEA Management LLC, a limited
liability company, the managing members of which are John L. Garcia and Brian R. Hoesterey.
AEA Investors LP currently carries out its investment advisory business through the following
subsidiaries and/or affiliates: AEA QP Advisers LLC, AEA Advisers LLC, AEA Investors SBF
LP, AEA Debt Management LP and AEA Growth Management LP (each an “Adviser” and
collectively the “Advisers” or “AEA”). This brochure serves as the brochure for all of the Advisers.
AEA Advisers LLC, AEA Investors LP, AEA Debt Management LP, and AEA Growth
Management LP are all relying advisers with respect to AEA QP Advisers LLC.1
The Advisers manage and provide investment advice to closed-end private investment vehicles,
including special opportunity and/or continuation vehicles, that are exempt from registration under
the Investment Company Act of 1940, as amended, and whose securities are not registered under
the Securities Act of 1933, as amended (each such vehicle, a “Fund” or “Client”). The investment
advice includes investigating, identifying and evaluating investment opportunities; structuring,
negotiating, monitoring and managing investments of the Funds; and disposing of the investments
of the Funds. The Funds invest pursuant to and in accordance with the investment criteria and
limitations set forth in each Fund’s governing documents. The investments generally are not made
in publicly traded securities and are commonly referred to as “private equity” or “private debt”
investments. The Advisers provide advice to each Fund and do not tailor their advisory services
to the individual needs of the investors in each Fund. The Funds (or the general partners thereof)
generally enter into side letters with certain investors which have the effect of establishing rights
under, or altering or supplementing the terms of, the relevant governing documents with respect
to such investor.
The Advisers’ private equity investment vehicles are focused on the larger middle market (the
“AEA Middle Market Private Equity Programs”), the smaller middle market (the “AEA Small
Business Programs”) and growth-stage companies (the “AEA Growth Equity Program,” and
collectively with the AEA Middle Market Private Equity Programs and AEA Small Business
Programs, the “Private Equity Programs”). The Private Equity Programs focus primarily, but
not exclusively, on the following sectors: (1) value-added industrials, (2) consumer, (3) services
relating primarily to these and other business sectors and (4) in the case of growth equity, tech-
1 Includes general partners of Clients and certain non-US affiliates, which are treated as Advisers under SEC
guidance: AEA Growth Equity Partners LP, AEA Growth Funding GP LLC, AEA Investors (Asia) Limited, AEA
Investors (Germany) GmbH, AEA Investors (UK) LLP, AEA Investors 2006 PF LLC, AEA Investors Executive
Partners VI LLC, AEA Investors Executive Partners VII LLC, AEA Investors Executive Partners VIII LLC, AEA
Investors Partners 2006 L.P., AEA Investors Partners EF II LP, AEA Investors Partners Europe L.P., AEA Investors
Partners V LP, AEA Investors Partners VI LP, AEA Investors Partners VII LP, AEA Investors Partners VIII LP, AEA
Investors PF V LP, AEA Investors SBF II Partners LP, AEA Investors SBF III Partners LP, AEA Investors SBF IV
Partners LP, AEA Investors SBF V Partners LP, AEA Mezzanine Partners II LP, AEA Mezzanine Partners III LP,
AEA Mezzanine Partners IV LP, AEA Middle Market Debt III GP LP, AEA Middle Market Debt IV GP LP, AEA
Middle Market Debt V GP LP, AEA Partners Asia LP, AEA Partners EXC CF LP, AEA Partners SBP CF LP,
Amateras AEA SCF Partners LP.
enabled software and healthcare services companies. Each of the Private Equity Programs is
comprised of one or more Funds. The AEA Private Equity Programs are comprised of the
following Funds:
- AEA Investors 2006 Fund L.P. (and its related parallel vehicles), AEA Investors Fund V
LP (and its parallel vehicles), AEA Investors Fund VI LP (and its parallel vehicles), AEA
Investors Fund
VII LP (and its parallel vehicles), AEA Investors Fund VIII LP (and its
parallel vehicles), and AEA EXC CF LP.
- The AEA Small Business Programs are comprised of the following Funds: AEA Investors
Small Business Fund II LP, AEA Investors Small Business Fund III LP, AEA Investors
SBF IV LP, AEA Investors SBF V LP (and its parallel vehicle), and AEA SBP CF LP.
- The AEA Growth Equity Program is comprised of AEA Growth Equity Fund LP (and its
parallel vehicle).
The Advisers’ private debt funds invest primarily, but not exclusively, in mezzanine debt
investments (the “Mezz Funds”) and senior debt investments (the “Senior Debt Funds” and
together with the Mezz Funds, the “Debt Funds” or the “AEA Debt Programs”) in non-public
companies. Each of the AEA Debt Programs is comprised of one or more Funds.
- The Mezz Funds include AEA Mezzanine Fund II LP (and its parallel vehicle), AEA
Mezzanine Fund III LP and AEA Mezzanine Fund IV LP.
- The Senior Debt Funds include AEA Middle Market Debt Fund III LP, AEA Middle
Market Debt Fund IV LP, and AEA Middle Market Debt Fund V LP.
The Advisers expect in the future to advise other funds in addition to those listed herein. For
example, in 2024, AEA expects to expand its focus to capital solutions (primarily debt and equity
co-invest) in a joint venture with Amateras Capital and is currently making seeding investments.
Adviser personnel may also serve on the boards of directors or similar governing bodies of the
underlying portfolio company investments of the Funds.
Additionally, as permitted by a Fund’s governing documents, the Advisers expect to provide (or
agree to provide) co-investment opportunities (including the opportunity to participate in co-invest
vehicles) to certain current or prospective investors or other persons, including other sponsors,
market participants, finders, consultants and other service providers, and portfolio company
management or personnel. Such co-investments typically involve investment and disposal of
interests in the applicable portfolio company at the same time and on 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 the Advisers’ sole discretion, the Advisers
reserve 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.
The provision of information about the above referenced Funds shall in no event be considered to
be an offer of interests in a Fund nor shall it be an offer of, or agreement to provide, advisory
services directly to any recipient. Rather, this brochure is designed solely to provide information
about AEA for the purpose of compliance with certain obligations under the Investment Advisers
Act of 1940, as amended (the “Advisers Act”). Potential investors are provided with relevant
organizational documents and private placement memoranda further describing terms, key risks
and conflicts associated with a particular Client prior to investing and encouraged to review such
documents carefully.
As of December 31, 2023, the Advisers had total assets under management (including uncalled
capital commitments) of approximately $19,131,623,983, all of which was managed on a
discretionary basis.