Investcorp Investment Advisers LLC (“IIA LLC” or the “Firm”) is wholly owned by Investcorp International Holdings Inc., which is part of the Investcorp group of companies (“Investcorp Group”). The Investcorp Group effectively operates as a management-controlled group, substantially all of whose assets and operations are owned and controlled by Investcorp S.A., a company domiciled in the Cayman Islands. Certain of the Investcorp Group’s directors and senior executive officers have the ability to indirectly control Investcorp S.A. IIA LLC provides advisory services for Private Equity and Strategic Capital. This Brochure discusses the business practices of IIA LLC only in connection Investcorp Strategic Capital Partners Group (“ISCG”). Please see the Firm’s other Brochure for a discussion of the Firm’s business practices relating to its Private Equity advisory services. N.A. Investcorp LLC (“NAILLC”) and other affiliated entities act as placement agents for ISCG products. Please see Item 10, “Other Financial Industry Activities and Affiliations” for additional information on IIA LLC’s arrangements with its affiliates. IIA LLC does not participate in wrap fee programs. The Firm manages private funds, co- investment vehicles, and managed accounts on a discretionary basis, except as may be limited in the relevant advisory client’s advisory agreement. Overview of Investcorp Strategic Capital Advisory Services Investcorp launched its ISCG business in 2019. As part of its business ISCG provides investment management services to private funds (collectively the “Funds”) that identify, and make strategic investments in, alternative asset managers to private funds, collective investment vehicles and separately managed accounts sponsored, managed or advised by such alternative asset managers (such alternative asset managers, collectively “Portfolio Managers,” such private funds, collective investment vehicles and separately managed accounts,

“Portfolio Funds” and such investments by the Funds in Portfolio Managers and/or Portfolio Funds, “Portfolio Investments”). The Funds are exempt from registration as investment companies under the Investment Company Act of 1940. Certain Funds are pooled funds with multiple investors, while other Funds are set up to enable a single investor to have its assets managed in a manner similar to other Funds. Employees or affiliates of IIA LLC that meet investor qualifications can invest in the Funds. IIA LLC may retain other consultants and advisers as it deems desirable for the performance of its management responsibilities. Certain Funds are organized in a master-feeder structure. Other funds sponsored or managed by IIA LLC, or its affiliates may invest all or a portion of their assets in a master fund on different terms or conditions than those available to the feeder funds. Certain Funds are divided into different classes, sub-classes and/or series of shares in order to reflect different rights, obligations, privileges and other terms, which may include without limitation different trading strategies, priorities in redemption (and/or liquidation), and different fee obligations. Certain Funds may issue additional classes or series of shares from time to time on the same or different terms from existing classes. ISCG manages all Funds in a manner consistent with their advisory agreements, operating agreements and offering documents, including any investment restrictions specified therein. The purchase of interests in the Funds will only be made by investors that meet qualification standards (“Interests”). Assets Under Management IIA LLC’s regulatory assets under management (”RAUM”) in ISCG were $ 1.3 billion as of June 30, 2023, all of which were managed on a discretionary basis. IIA LLC’s total RAUM in ISCG and Private Equity investment products were approximately $4.1 billion as of June 30, 2023, all of which were managed on a discretionary basis.