Resilience Management is a private investment management firm, including several
registered investment advisory entities and other organizations affiliated with Resilience
Management (collectively, “Resilience”), that manages approximately $563.5 million in private
fund assets. Resilience commenced operations in July 2001.
Resilience Management (formerly known as “Resilience Management, Inc.,” “Resurgence
Capital Management, Inc.” and “FRM Management, Inc.”), a registered investment adviser,
provides advisory personnel and services to the following private investment funds (collectively,
the “Resilience Funds”):
• The Resilience Fund II, L.P., of which Resilience Capital Partners II, L.L.C. (“RCP
II”) is the general partner; The Resilience Fund II Annex, L.P. (the “Resilience IIA
Fund” and, together with The Resilience Fund II, L.P., the “Resilience II Fund”),
of which Resilience Capital Partners II Annex, L.L.C. (“RCP IIA”) is the general
partner;
• The Resilience Fund III, L.P., of which Resilience Capital Partners III, L.L.C.
(“RCP III”) is the general partner; The Resilience Fund III (PF), L.P. (the
“Resilience III (PF) Fund” and, together with The Resilience Fund III, L.P., the
“Resilience III Fund”), of which RCP III is the general partner;
• The Resilience Fund IV, L.P., of which Resilience Capital Partners IV, L.P. (“RCP
IV” and, together with LAR GP (defined below), RCP II, RCP II FO (defined
below), RCP IIA, and RCP III the “General Partners”) is the general partner; and
The Resilience Fund IV-A, L.P. (the “Resilience IV-A Fund” and, together with
The Resilience Fund IV, L.P., the “Resilience IV Fund”); and
• LAR Resilience, LP (“LAR Resilience”), of which LAR Resilience GP, LLC
(“LAR GP”) is the general partner.
The Resilience Funds are private equity funds that invest through negotiated transactions
in operating entities, generally referred to herein as “portfolio companies.” Resilience’s
investment advisory services to the Resilience Funds consist of identifying and evaluating
investment opportunities, negotiating 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. From time to time, where
such investments consist of portfolio companies, the senior principals or other personnel of
Resilience or its affiliates generally serve on such portfolio companies’ respective boards of
directors or otherwise act to influence control over management of portfolio companies held by
the Resilience Funds.
Additionally, Resilience Management provides advisory personnel and services to the
following co-investment vehicles (together, the “Resilience Co-Investment Funds”), each of
which were formed to invest side-by-side with one or more Resilience Funds:
• Resilience Flight Options, L.L.C.;
• Resilience Nextant Aircraft, L.L.C.;
• Resilience SIMCOM Holdings, LLC;
• Resilience OneSky, LLC and Resilience OneSky A, LLC, of which Resilience
Capital Partners II FO, LLC (“RCP II FO”) serves as the managing member;
• Resilience Stonebriar Investors, LLC and Resilience
Stonebriar Investors A, LLC,
of which RCP II FO serves as the manager; and
• Resilience Tuvoli, LLC.
From time to time, Resilience provides (or agrees to provide) certain investors or other
persons co-investment opportunities, including the opportunity to participate in co-investment
vehicles such as the Resilience Co-Investment Funds, that will invest in certain portfolio
companies alongside a Resilience Fund. Such co-investments typically involve investment and
disposal of investments in the applicable portfolio company at the same time and on the same
terms as a Resilience Fund making the investment. However, from time to time, for strategic and
other reasons, a co-investment vehicle (including a Resilience Co-Investment Fund) purchases a
portion of an investment from a Resilience Fund after such Resilience Fund has consummated its
investment in the portfolio company (also known as a post-closing sell-down or transfer), which
generally will have been funded through Resilience Fund investor capital contributions and/or use
of a Resilience Fund credit facility. Any such purchase from a Resilience Fund by a co-investment
vehicle generally occurs shortly after the Resilience Fund’s completion of the investment to avoid
any changes in valuation of the investment, and the co-investment vehicle may be charged interest
on the purchase to compensate the relevant Resilience Fund for the holding period. However, to
the extent such amounts are not so charged or reimbursed, they generally will be borne by the
relevant Resilience Fund.
Resilience Management commenced operations in July 2001. Each General Partner is
subject to the Advisers Act pursuant to Resilience Management’s registration in accordance with
SEC guidance. This Brochure also describes the business practices of the General Partners, which
operate as a single advisory business with Resilience Management.
Resilience’s advisory services for the Resilience Funds are detailed in the applicable
private placement memorandum or other offering documents (including the supplements thereto,
each, a “Memorandum”) and the limited partnership or operating agreement of the applicable
Resilience Fund (each, a “Partnership Agreement” and, as applicable, together with any relevant
Memorandum, the “Governing Documents”) and are further described below under “M
ETHODS
OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS
.” The limited partners or members, as
applicable, of the Resilience Funds (the “Limited Partners”) participate in the overall investment
program for such Resilience Fund, but may be excused from a particular investment due to legal,
tax, regulatory or other agreed upon circumstances pursuant to the relevant Governing Documents.
The Resilience Fund, Resilience or the General Partners have entered into side letters or other
similar agreements with certain Limited Partners that have the effect of establishing rights under,
or altering or supplementing the terms (including economic or other terms) of, the applicable
Resilience Fund’s Governing Documents with respect to such Limited Partners.
As of December 31, 2023, Resilience managed approximately $563.5 million in client
assets on a discretionary basis. Resilience is ultimately controlled by Steven H. Rosen and Bassem
A. Mansour (the “Managing Partners”).