Levine Leichtman Capital Partners, LLC (“LLCP”), a California limited liability company and a registered investment adviser, and its affiliated investment advisers provide investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere and to managed accounts.1 LLCP is the successor to Levine Leichtman Capital Partners, Inc., which commenced operations in 1984. LLCP’s clients include the following: Structured Private Equity Funds:
• Levine Leichtman Capital Partners IV, L.P. (“LLCP IV”) and its parallel investment vehicle2 (collectively, “LLCP IV Funds”)
• Levine Leichtman Capital Partners V, L.P. (“LLCP V”) and its parallel and alternative investment vehicles3 (collectively, “LLCP V Funds”)
• Levine Leichtman Capital Partners VI, L.P. (“LLCP VI”) and its parallel and alternative investment vehicles and feeder vehicle4 (collectively, “LLCP VI Funds”)
• Levine Leichtman Capital Partners VII, L.P. and its parallel and alternative investment vehicle and feeder vehicles5 (collectively, “LLCP VII Funds”, and together with the LLCP IV Funds, the LLCP V Funds, and the LLCP VI Funds, the “Structured Private Equity Series Funds”)
• Levine Leichtman Small Business Fund, L.P. (“Small Business Fund”)
• Levine Leichtman Capital Partners Europe, L.P. (“Europe Fund”) 1 Solely for purposes of this Brochure, references to a “Fund” or “Funds” shall include any client of LLCP or its affiliated investment advisers, (including, where context requires, a managed account), but shall not include, unless context requires, a sub-managed account. 2 LLCP IV’s parallel investment vehicle is Levine Leichtman Capital Partners IV-Amicus Fund, L.P. 3 LLCP V’s parallel and alternative investment vehicles are Levine Leichtman Capital Partners V Amicus Fund, L.P., Levine Leichtman Capital Partners V International Fund, L.P., Levine Leichtman Capital Partners V AIV, L.P. and Levine Leichtman Capital Partners V Amicus Fund AIV, L.P. 4 LLCP VI’s parallel and alternative investment vehicles are Levine Leichtman Capital Partners VI Amicus Fund, L.P., Levine Leichtman Capital Partners VI-A, L.P., Levine Leichtman Capital Partners VI AIV, L.P., Levine Leichtman Capital Partners VI Amicus Fund AIV, L.P. and Levine Leichtman Capital Partners VI-A AIV, L.P. LLCP VI’s feeder vehicle is LLCP VI-A LR Partnership, L.P., which is a feeder fund for Levine Leichtman Capital Partners VI-A, L.P. 5 LLCP VII’s parallel and alternative investment vehicle is Levine Leichtman Capital Partners VII-A, L.P. LLCP VII’s feeder vehicles are LLCP VII Individual Feeder, L.P. and LLCP VII-A Individual Feeder, L.P.
• LLCP Lower Middle Market Fund, L.P. (“LMM II”) and its parallel investment vehicle6 (collectively, “LMM II Funds”)
• LLCP Lower Middle Market Fund III, L.P. (“LMM III”) and its parallel investment vehicle7 (collectively, “LMM III Funds” and together with the LMM II Funds, the “LMM Funds”)
• Levine Leichtman Capital Partners Europe II SCSp (“Europe II Fund”) Private Capital Solutions Funds:
• Levine Leichtman Capital Partners Private Capital Solutions, L.P. (“LLCP PCS”) and its parallel investment vehicle8 (collectively, “LLCP PCS Funds”) Co-Invest Funds:
• LLCP Co-Investment Fund, L.P. (“LLCP Co-Invest”) and its parallel and alternative investment vehicles9 (collectively, “Co-Invest Fund”)10 Other Funds:
• LLCP-A Investment Partnership, L.P. and its related entities The following general partner and/or adviser entities are affiliated with LLCP: Structured Private Equity Fund Advisers:
• LLCP Partners IV GP, LLC
• LLCP Partners V GP, LLC
• LLCP Partners VI GP, L.P.
• LLCP Partners VII GP, L.P.
• LLCP Small Business GP, LLC
• LLCP Europe GP, L.P. 6 LMM’s parallel investment vehicle is LMM Parallel Fund, L.P. 7 LMM III’s parallel investment vehicle is LLCP Lower Middle Market

Fund III-A, L.P. 8 LLCP PCS’s parallel investment vehicle is Private Capital Solutions Parallel Fund, L.L.C. 9 LLCP Co-Invest’s parallel and alternative investment vehicles are LLCP Co-Investment Parallel Fund, L.P., LLCP Co-Investment Fund AIV, L.P. and LLCP Co-Investment Parallel Fund AIV, L.P. 10 LLCP VI-A LR Partnership, L.P. also includes a co-investment component. See footnote 5.
• LLCP LMM GP, LLC
• LLCP LMM III GP, L.P.
• LLCP Partners Europe II GP, S.à r.l.
• LLCP Partners Europe II GP, L.P. Private Capital Solutions Fund Advisers
• LLCP PCS GP, LLC Co-Invest Fund Adviser
• LLCP Co-Investment GP, L.P. Other Fund Adviser
• LLCP-A GP, LLC Except where specified, references to an “Adviser” in this Brochure refer to any of the general partner and/or adviser entities described above, along with any future affiliated general partners and/or adviser entities, and references to the “Firm” collectively refer to all Advisers, together with LLCP, and their affiliated entities. Each Adviser is subject to the Advisers Act pursuant to LLCP’s registration in accordance with SEC guidance.11 This Brochure also describes the business practices of each of the Advisers, which operate as a single advisory business together with LLCP. The Funds are private equity and/or debt funds and principally invest through negotiated transactions in operating entities, generally referred to herein as “portfolio companies.” The Firm’s investment advisory services to the Funds consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments. Investments are made predominantly in non-public companies, although investments in public companies are permitted. Where such investments consist of portfolio companies, the senior principals or other personnel of LLCP or its affiliates generally serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management of portfolio companies in which the Funds have invested. The Firm’s advisory services to the Funds are detailed in the relevant private placement memoranda or other offering documents (each, a “Memorandum”), investment management agreements, limited partnership or other operating agreements or governing documents of the Funds (each a “partnership agreement” and, together with any relevant Memorandum, the 11 The Advisers are also affiliated with Levine Leichtman Strategic Capital, LLC (“LLSC”), which is separately registered with the SEC under the Advisers Act, and more information regarding LLSC can be found on its Form ADV Part 2A. “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” Investors in Funds (generally referred to herein as “investors,” “partners” or “limited partners”) participate in the overall investment program for the applicable Fund, but in certain circumstances are excused from a particular investment due to legal, regulatory or other agreed-upon circumstances pursuant to the relevant partnership agreement; for the avoidance of doubt, such arrangements generally do not and will not create an adviser-client relationship between LLCP and any investor. The Funds or their respective general partners have entered into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights (including economic or other terms) under, or altering or supplementing the terms of, the relevant partnership agreement with respect to such investors. Certain Funds, such as the Co-Invest Fund, are structured to facilitate investments by co-investors alongside certain other Funds. As permitted by the Governing Documents, the Firm further has the authority to allocate some or all of an investment opportunity to committed or agreed co-invest funds, or vehicles or other accounts managed or sub-managed by the Firm, including accounts sub-managed by LLSC, to existing or prospective limited partners of its clients, and to other co-investors selected by the Firm, including portfolio company management or personnel, lenders and other strategic or other parties selected on a case-by-case basis. The Firm expects that it will occasionally charge a management fee to, or receive carried interest from, such co-investment vehicles and accounts. As of December 31, 2023, the Firm (excluding amounts managed by LLSC) managed $9,562,507,488 in client assets on a discretionary basis. LLCP is controlled by Arthur E. Levine and Lauren B. Leichtman.