9AT: ELEMENTUM ADVISORS, LLC

other names

ELEMENTUM ADVISORS, LLC
ELEMENTUM (BERMUDA) LTD. ("RELYING ADVISER")

Adviser Profile

As of Date	06/10/2025
ADV Location	CHICAGO, IL, United States
Adviser Type - Large advisory firm
Number of Employees	42 -16%
of those in investment advisory functions	15 -12%
Registration	SEC, Approved, 09/30/2009

AUM^*	3,746,598,623 -5%
of that, discretionary	3,746,598,623 -5%
Private Fund GAV^*	1,858,594,710 0%
Avg Account Size	156,108,276 -33%
SMA’s	Yes
Private Funds	27 12
Contact Info	312 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Pension and profit sharing plans
- Other investment advisers
- Sovereign wealth funds and foreign official institutions

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	Count27	GAV$1,858,594,710

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 BRAVE WARRIOR ADVISORS, LLC	Hedge Fund239.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV239.7m	AUM5.4b	#Funds5
Adviser MFN PARTNERS MANAGEMENT, LP	Hedge Fund9.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV9.1b	AUM9.1b	#Funds1
Adviser SACHEM HEAD CAPITAL MANAGEMENT LP	Hedge Fund4.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.1b	AUM4.1b	#Funds12
Adviser SENVEST MANAGEMENT, LLC	Hedge Fund4.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.4b	AUM4.4b	#Funds7
Adviser FUNDAMENTAL ADVISORS LP	Hedge Fund4.1b	Liquidity Fund-	Private Equity Fund183.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.3b	AUM4.1b	#Funds17
Adviser ENCOMPASS CAPITAL ADVISORS LLC	Hedge Fund3.9b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.9b	AUM4.8b	#Funds7
Adviser RUBRIC CAPITAL MANAGEMENT LP	Hedge Fund6.2b	Liquidity Fund-	Private Equity Fund20.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.3b	AUM7.1b	#Funds8
Adviser S.B. VALUE PARTNERS, L.P.	Hedge Fund39.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV39.8m	AUM5.0b	#Funds3
Adviser ATALANTA SOSNOFF CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.5b	#Funds-
Adviser COPELAND CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.9b	#Funds-

Brochure Summary

Overview

Elementum Advisors, LLC (“Elementum” or “We”) is an independent alternative investment manager providing discretionary investment management services to a broad range of institutional clients, including U.S. and non-U.S. unregistered private investment companies (the “fund(s)”). We specialize in collateralized natural event insurance and reinsurance investments and manage client portfolios across a range of objectives within the risk-linked investments (“RLI”) asset class with varying degrees of diversification, risk, liquidity, hedging and leverage. Based in Chicago, Illinois, Elementum was launched in December 2009 by founding partners Anthony Rettino and John DeCaro, and managing partner, Michael France. Its Relying Adviser, Elementum (Bermuda) Ltd. (“Elementum Bermuda”), was launched in November 2011 and is engaged by Elementum as a sub-adviser. Elementum and Elementum Bermuda are each wholly owned by Elementum Holdings, LP. Elementum Holdings, LP is principally owned by the two founding partners and WM Capital Holdings Ltd., a wholly owned subsidiary of White Mountains Insurance Group, Ltd., a third-party investor. We regularly agree to certain investment restrictions and guidelines as requested by a client and agreed upon in the client’s investment management agreement with us. We do not participate in class actions for clients. From time to

time, we have opportunities for third parties or a limited sub-set of clients to co-invest along with our clients. We generally receive compensation in connection with structuring or advising such co- investment opportunities. These opportunities may be made available to third parties or certain clients wishing to make additional investments in such opportunities only to the extent that any desired allocations have already been made to our existing client portfolios. Elementum may provide consulting or other services from time to time to third parties, so long as the provision of such services is not inconsistent with our fiduciary duties to our clients. In addition to those expenses described in Item 5 below, expenses incurred in connection with the evaluation of investment opportunities, including legal fees as well as counterparty due diligence and investment related travel costs incurred by Elementum or its agents, will typically be charged to our clients, notwithstanding that such opportunities may also be evaluated for the supplemental or co-investment opportunities. This outcome is necessitated because supplemental or co-invest opportunities are “opt-in” for third parties and certain clients who have no obligations to make such investments. Regulatory Assets under management as of December 31, 2023 Discretionary: $ 4,140,924,488 Non-Discretionary: $0

ELEMENTUM ADVISORS, LLC

Adviser Profile

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