9AT: AC INVESTMENT MANAGEMENT LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 06/22/2006
ADV Location	NEW YORK, NY, United States
Contact Info	(21 xxxxxxx
Websites

AUM^*	250,967,301 -11%
of that, discretionary	250,967,301 -11%
Number of Employees	8 -20%
of those in investment advisory functions	3 -25%
Private Fund GAV^*	283,921,819 5%
Avg Account Size	62,741,825 412%
SMA’s	No
Private Funds	4

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Selection of other advisers

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

	Count	GAV
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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 JGB CAPITAL MANAGEMENT L.P.	Hedge Fund393.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV393.1m	AUM421.0m	#Funds6
Adviser HORIKO CAPITAL MANAGEMENT LLC	Hedge Fund248.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV248.9m	AUM475.1m	#Funds2
Adviser QSEMBLE CAPITAL MANAGEMENT, LP	Hedge Fund1.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.5b	AUM2.0b	#Funds3
Adviser 8 KNOTS MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM2.0b	#Funds-
Adviser PALOGIC VALUE MANAGEMENT, L.P.	Hedge Fund141.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV141.9m	AUM405.5m	#Funds4
Adviser MEDINA VALUE PARTNERS, LLC	Hedge Fund428.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV428.9m	AUM717.2m	#Funds4
Adviser OGBORNE CAPITAL MANAGEMENT, LLC.	Hedge Fund410.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV410.0m	AUM410.0m	#Funds3
Adviser SOVIERO ASSET MANAGEMENT, LP	Hedge Fund267.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV267.7m	AUM267.7m	#Funds3
Adviser ISAM FUNDS (UK) LIMITED	Hedge Fund739.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV739.0m	AUM2.3b	#Funds4
Adviser ISAM FUNDS (USA) LLC	Hedge Fund739.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV739.0m	AUM2.3b	#Funds1

Brochure Summary

Overview

ACIM has been in business since February 2006 and started advising its first client in April 2006. ACIM offers the services described below to several private investment funds (each a “Fund” and collectively referred to as the “Funds”). The firm is principally owned in the majority by Ms. Daphne W. Scalamandre (“Scalamandre”). As of March 27, 2024, ACIM managed discretionary client assets valued at approximately $282,044,638 and manages no non-discretionary assets.
ACIM is filing a single Form ADV in reliance on the position expressed in the letter of the SEC staff to the American Bar Association, Business Law Section, dated January 18, 2012, regarding the Investment Advisers Act of 1940 – Section 203(a) and 208(d). Also included in this filing in reliance on this letter: Aurelian Capital GP, LLC the general partner of AGR Master, LP; Aurelian Holdings, LLC the general partner of Aurelian Plus, LLC; AC Energy Partners, LLC the general partner of AC Energy, LLC; and AC FTR, LLC the general partner of AC Energy, LLC.
Typically, ACIM provides investment advice to Funds formed as “master-feeder” structures which have a foreign entity (a Cayman Island exempt company) that “feeds” into a domestic entity (either a limited partnership or limited liability company) with the same investment strategy. These

Funds serve as multi- manager portfolios for investors. The Funds are “Qualified Purchasers” as such definition is set forth in Section 3(c)(7) of the Investment Company Act of 1940, which generally requires investors to have a net worth greater than $5,000,000. ACIM typically invests its client assets in investment vehicles trading in physical commodities and their related financial instruments, with a lesser emphasis on the equities and debt of companies. On an incidental basis, ACIM makes venture capital investments in sectors unrelated to physical commodities and their related financial instruments where ACIM has identified a venture capital portfolio company investment (each a “Portfolio Company and collectively the “Portfolio Companies”) in which it may get involved in an active transformation with the belief that such involvement may generate a high level of return on investment. Investments are made through private funds or accounts managed by third-party managers and may also be made directly. ACIM does not tailor its advisory services or investment objectives or strategies to the requests or needs of individual Fund investors. Investors are not permitted to restrict the Fund’s investments. For a more detailed description of ACIM’s strategies and associated risks, please see the section titled Method of Analysis, Investment Strategies and Risk of Loss.

Adviser Profile

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Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

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Employees

Private Funds Structure

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