Overview
Description of Registrant - Item 4.A
C&C, a Delaware limited partnership and a registered investment adviser, is managed by an
experienced private investment team focused on building leading middle-market healthcare
businesses in partnership with experienced management teams. For nearly three decades
across ten funds, Bryan Cressey has pursued investment opportunities within the rapidly
growing healthcare industry. The principal owners of C&C are Bryan C. Cressey and Peter S.
Ehrich. C&C has been in business since June 2008.
Advisory Services Offered - Item 4.B
C&C renders discretionary investment management services to privately offered funds
(individually, a “Fund” and, collectively, the “Funds”) that are open for investment by
financially sophisticated institutional and high net worth investors. The Funds generally focus
on investments in the healthcare industry.
Tailored Services - Item 4.C
The services rendered by C&C to each Fund are dependent on the investment objectives of the
respective Fund and are set forth in the private offering memoranda, limited partnership
agreement, investment advisory agreement, side letters or other similar agreements negotiated
with investors in the Fund (“Side Letters”) and other governing documents
of the relevant
Fund (collectively, the “Governing Documents”). C&C’s investment advice and investment
authority is tailored and limited to that which is permitted under each Fund’s Governing
Documents.
Investors in the 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 Governing Documents; for the avoidance of doubt,
such arrangements generally do not and will not create an adviser-client relationship between
C&C and any investor. The Funds or the relevant general partners of the Funds generally enter
into Side Letters with certain investors that have the effect of establishing rights under, or
altering or supplementing the terms (including economic or other terms) of, the Governing
Documents with respect to such investors.
Wrap Fee Programs - Item 4.D
Given the nature of its advisory services, C&C does not participate in wrap fee programs.
Client Assets Registrant Manages - Item 4.E
As of December 31, 2023, C&C managed committed client assets of $3,437,000,000 on a
discretionary basis and $0 on a non-discretionary basis.