9AT: LIZARD INVESTORS LLC

other names

LIZARD INVESTORS LLC

Adviser Profile

As of Date	03/06/2025
ADV Location	CHICAGO, IL, United States
Adviser Type - Large advisory firm
Number of Employees	3 -25%
of those in investment advisory functions	3 -25%
Registration	SEC, Approved, 07/11/2008

AUM^*	223,100,000 -25%
of that, discretionary	223,100,000 -25%
Private Fund GAV^*	20,552,000 -30%
Avg Account Size	37,183,333 -50%
SMA’s	Yes
Private Funds	2 1
Contact Info	(31 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Pension and profit sharing plans

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count2	GAV$20,552,000

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 RESOLUTE GLOBAL PARTNERS, LTD.	Hedge Fund315.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV315.4m	AUM315.4m	#Funds1
Adviser SIENA CAPITAL PARTNERS GP, LLC	Hedge Fund368.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV368.2m	AUM368.2m	#Funds1
Adviser ENGINE NO.1 LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM299.9m	#Funds-
Adviser FOREST HILL CAPITAL, LLC	Hedge Fund66.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV66.5m	AUM146.7m	#Funds1
Adviser ARISTIDES CAPITAL LLC	Hedge Fund472.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV472.8m	AUM472.8m	#Funds5
Adviser BHZ CAPITAL MANAGEMENT, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM153.0m	#Funds-
Adviser PILGRIM GLOBAL ADVISORS LLC	Hedge Fund784.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund167.7m	Total Private Fund GAV951.9m	AUM951.9m	#Funds2
Adviser WAYCROSS PARTNERS, LLC	Hedge Fund127.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV127.4m	AUM865.5m	#Funds3
Adviser EDGE FOCUS CAPITAL MANAGEMENT, LLC	Hedge Fund446.4m	Liquidity Fund-	Private Equity Fund50.0k	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV446.5m	AUM497.8m	#Funds4
Adviser CORNWALL CAPITAL MANAGEMENT LP	Hedge Fund132.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV132.7m	AUM132.7m	#Funds5

Brochure Summary

Overview

Lizard Investors LLC (“Lizard” or the “Investment Manager”), a Delaware limited liability company founded by Leah Zell, was incorporated in October 2007 and has been registered with the SEC since July 11, 2008. We have been providing investment advisory services since January 2009. Effective January 1, 2023, following a purchase transaction, Lizard became primarily an employee-owned firm. Lizard is now majority-owned by Jonathan Moog, Chief Investment Officer and Portfolio Manager. Entities controlled by Leah Zell continue to own a small portion of the entity. Prior to the purchase transaction, we were previously owned by Pengana Capital Group Limited and entities controlled by Leah Zell. The following paragraphs describe our services and fees. Refer to the description of each investment advisory service listed below for information on how we tailor our advisory services to your individual needs. As used in this brochure, the words "we," "our," and "us" refer to Lizard Investors LLC and the words "you," "your," and "client" refer to you as either a client or prospective client of our firm. Lizard provides discretionary investment advisory services to private investment funds ( the “Funds”) and to separately managed accounts offered through non-affiliated third-party investment advisers (“SMAs” and together with the “Funds”, the “Clients”). Our investment advice is tailored to meet our Clients'

needs and investment objectives. Sub-advisory services are offered per the terms and conditions of a written agreement with the primary investment adviser. These primary advisers are responsible for maintaining the initial and ongoing day-to-day relationship with the underlying client, including initial and ongoing determination of client suitability for Lizard's designated investment strategies. Our obligation shall be limited to management of the allocated assets consistent with the objective and/or strategy designated by the primary adviser. Lizard’s investors in the Funds may include individuals (including high net worth individuals), family and multi-family offices, foundations and institutions. SMAs are offered to institutional clients. Lizard invests mainly in common stocks of small- to mid-cap companies typically domiciled and generally doing business outside the United States subject to our Clients’ investment objectives. In addition, in the future, Lizard may provide investment management and/or advisory services to other clients (including individual accounts, other pooled investment vehicles and Lizard’s own account), including those which follow an investment program substantially similar to, or different from, that of the current Clients. As of December 31, 2023, Lizard had $268,004,850 in regulatory assets under management, all of which are managed on a discretionary basis.

LIZARD INVESTORS LLC

Adviser Profile

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Brochure Summary

Overview