A. General Description of Advisory Firm.
Westport Capital Partners LLC (“Westport”) is a Connecticut limited liability company formed on
November 18, 2005. Westport or an affiliate of Westport serves as investment manager for (i)
thirty privately offered investment funds listed in the table below, and any parallel or alternative
investment vehicles (individually, each a “Fund” and collectively, the “Funds”); and
(ii) certain individually managed accounts (the “Managed Accounts” and together with the Funds,
the “Clients”). The Clients primarily invest in the direct and indirect fee ownership of real estate
and real estate-related financial assets (including, without limitation, real estate mortgage loans
(senior and subordinated), real estate mezzanine loans, equity and debt securities issued by
companies with significant real estate-related investments or exposure, and syndicated and
bilateral bank debt, structured debt securities and instruments (including CMBS and RMBS) and
other fixed income securities related to real estate).
As indicated in the following table, Westport or an affiliate of Westport is the general partner (the
“General Partner”) or investment manager, as applicable, of each Fund.
Fund General Partner/Investment Manager
Palisades Real Estate, Ltd. Westport is the Investment Manager
Palisades Real Estate (Cayman), L.P. Palisades GP, LLC/Westport
Palisades Real Estate Fund, L.P. Palisades GP, LLC/Westport
WCP Real Estate Fund II, L.P. WCP Real Estate Fund II GP, LLC/WCP Investment
Manager, LLC
WCP Real Estate Fund II(A), L.P. WCP Real Estate Fund II GP, LLC/WCP Investment
Manager, LLC
WCP Real Estate Fund II(B), L.P. WCP Real Estate Fund II(B) GP, LLC/WCP Investment
Manager, LLC
WCP Real Estate Fund III, L.P. WCP Real Estate Fund III GP, LLC/Westport
WCP Real Estate Fund III(A), L.P. WCP Real Estate Fund III GP, LLC/Westport
WCP Real Estate Fund III(B), L.P. WCP Real Estate Fund III(B) GP, LLC/Westport
WCP Real Estate Fund III(BL), LLC WCP Real Estate Fund III(B) GP, LLC
(Class A Member)/Westport
WCP Real Estate Fund III(C), L.P. WCP Real Estate Fund III(B) GP,
WCP Real Estate Fund IV, L.P. WCP Real Estate Fund IV GP,
WCP Real Estate Fund IV (ERISA), L.P. WCP Real Estate Fund IV GP,
WCP Real Estate Fund V, L.P. WCP Real Estate Fund V GP, L.P./Westport
Capital Partners II, L.P.
WCP Special Core Plus Fund, L.P. WCP Special Core Plus Fund GP,
WCP Special Core Plus Fund II, L.P. WCP Special Core Plus Fund II GP,
LLC/Westport
WCP Homebuilder Inventory Solutions, L.P. WCP Homebuilder Inventory Solutions GP,
LLC/Westport Capital Partners II, L.P.
WCP BI Solutions, L.P. WCP Homebuilder Inventory Solutions GP,
LLC/Westport Capital Partners II, L.P.
WCP NewCold I-A, L.P. WCP NewCold I-A GP, LLC/Westport
WCP NewCold II, L.P. WCP NewCold II GP, L.P./Westport Capital Partners II,
L.P.
WCP Fund S, L.P. WCP Fund SJ GP, L.P./Westport Capital Partners II,
L.P.
WCP Fund S-I, L.P. WCP Fund SJ GP, L.P./Westport Capital Partners II,
L.P.
WCP Fund OGI, CV WCP Fund OGI GP, LLC/Westport Capital Partners II,
L.P.
WCP Fund OGI, L.P. WCP FH GP, LLC/Westport Capital Partners II, L.P.
WCP ML Holdings, LLC WCP ML Holdings III, LLC/Westport
WCP RC Feeder, LLC WCP RC MM, LLC/Westport Capital
Partners II, L.P.
WCP SFR Fund, L.P. WCP SFR Fund GP,
LLC/ Westport Capital
Partners II, L.P.
WCP Edgewater, L.P. WCP Edgewater GP, LLC/WCP Investment
Manager II, LLC
WCP Fund J, L.P. WCP Fund SJ GP, L.P./ Westport Capital
Partners II, L.P.
WCP SCP III, L.P. WCP SCP III GP, LLC/Westport
The principals of Westport are Sean F. Armstrong, Jordan S. Socaransky, Peter Aronson, Wm.
Gregory Geiger, Marc J. Porosoff, Steven A. Russell and Howard B. Fife. The senior investment
team of Westport consists of Sean F. Armstrong, Jordan S. Socaransky, Peter Aronson, Wm.
Gregory Geiger and Marc J. Porosoff, who have significant experience in real estate investment,
management, consulting and brokerage services. Westport concentrates on pursuing distressed,
opportunistic and core plus investment opportunities in real estate and real estate-related financial
assets. Please see Item 10 – Other Financial Industry Activities & Affiliations for more
information.
B. Description of Advisory Services
The Funds include the following open-ended funds: Palisades Real Estate, Ltd., Palisades Real
Estate (Cayman), L.P. and Palisades Real Estate Fund, L.P. (collectively, the “Hedge Funds”) as
well as the following closed-ended real estate funds: WCP Real Estate Fund II, L.P., WCP Real
Estate Fund II(A), L.P., WCP Real Estate Fund II(B), L.P., WCP Real Estate Fund III, L.P., WCP
Real Estate Fund III(A), L.P., WCP Real Estate Fund III(B), L.P., WCP Real Estate Fund III(BL),
LLC, WCP Real Estate Fund III(C), L.P., WCP Real Estate Fund IV, L.P., WCP Real Estate Fund
IV (ERISA), L.P., WCP Real Estate Fund V, L.P., WCP Special Core Plus Fund, L.P., WCP
Special Core Plus Fund II, L.P., WCP SCP III, L.P., WCP Edgewater, L.P., WCP Homebuilder
Inventory Solutions, L.P., WCP BI Solutions, L.P., WCP ML Holdings, LLC, WCP RC Feeder,
LLC, WCP NewCold I-A, L.P., WCP NewCold II, L.P., WCP Fund S, L.P., WCP Fund S-I, L.P.,
WCP Fund J, L.P., WCP Fund OGI C.V., WCP Fund OGI, L.P. and WCP SFR Fund, L.P. (the
“Private Equity Funds”). Westport may establish additional Funds in the future.
Westport serves as investment adviser to certain Clients pursuant to certain investment
management agreements (“Advisory Agreements”). As investment adviser to these Clients,
Westport:
1. Identifies investment opportunities for the Clients
2. Participates in the monitoring and evaluation of the Clients’ investments
3. Makes recommendations to the General Partner or Board of Directors of each
Fund and directs the Managed Accounts regarding the purchase and/or sale
of investments
C. Availability of Customized Services for Individual Clients.
Westport tailors its investment advice to the investment objectives and guidelines of each Client.
Westport provides investment advice directly to the Clients. However, with respect to Funds, the
individual needs of Fund investors are not the basis of investment decisions by Westport and Fund
investors do not have authority over or participate in the management of the Funds. Westport does
not participate in any wrap fee programs.
D. Wrap Fee Programs
Westport does not participate in any wrap fee programs.
E. Assets Under Management
As of December 31, 2023, Westport, together with certain of its affiliates, had approximately
$6,521,641,497 in regulatory assets under management (“RAUM”) on a fully discretionary basis.