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Adviser Profile

As of Date 03/29/2024
Adviser Type - Large advisory firm
Number of Employees 32 18.52%
of those in investment advisory functions 32 18.52%
Registration SEC, Approved, 3/28/2012
AUM* 9,414,930,097 97.79%
of that, discretionary 9,414,930,097 97.79%
Private Fund GAV* 9,414,930,097 97.79%
Avg Account Size 523,051,672 31.86%
SMA’s No
Private Funds 18 6
Contact Info 212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

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

Recent News

Reported AUM

Discretionary
Non-discretionary
5B 4B 4B 3B 2B 1B 743M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count18 GAV$9,414,930,097

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Brochure Summary

Overview

Altaris, LLC is a private investment management firm, including several investment advisory entities and other organizations affiliated with the Management Company (collectively, “Altaris”). The Management Company, a Delaware limited liability company and a registered investment adviser, and its affiliated investment advisers provide investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere. The Management Company commenced operations in January 2007. The following are the affiliated advisers of the Management Company (collectively, with the Management Company, the “Advisers”):
• AHP II GP, L.P. (“GP II”);
• AHP III GP, L.P. (“GP III”);
• AHP Constellation GP, L.P. (“Constellation GP”);
• AHP IV GP, L.P. (“GP IV”);
• AHP Constellation IV GP, L.P. (“Constellation IV GP”);
• AHP V GP, L.P. (“GP V”);
• AHP VI GP, L.P. (“GP VI”);
• Altaris Partners, LLC (“Altaris Partners,” and collectively with GP II, GP III, Constellation GP, GP IV, Constellation IV GP, GP V and GP VI, the “General Partners”);
• AHP VI Manager, L.P. (“Manager VI”);
• AHP V Manager, L.P. (“Manager V”); and
• AHP IV Manager, L.P. (“Manager IV,” and together with Manager V, Manager VI and the Management Company, the “Management Entities”). The Advisers’ clients include the following:
• Altaris Health Partners II, L.P. (“Fund II”);
• Altaris Health Partners III, L.P. (“Fund III”);
• Altaris Constellation Partners, L.P. (“Constellation”);
• Altaris Health Partners IV, L.P. (“Fund IV”);
• Altaris Constellation Partners IV, L.P. (“Constellation IV”);
• Altaris Health Partners V, L.P. and Altaris Health Partners V-A, L.P. (together, “Fund V”);
• Altaris Health Partners VI, L.P. and Altaris Health Partners VI-A, L.P. (together, “Fund VI”);
• Altaris Padagis Co-Invest, L.P. (“Co-Invest”);
• Altaris Padagis Co-Invest-A, L.P. (“Co-Invest-A”);
• Altaris V-4041, L.P. (“V-4041”);
• Altaris V-4042, L.P. (“V-4042”); and
• Altaris V-5082, L.P. (“V-5082”);
• Altaris VI T-Co-invest, L.P. (“T-Co-invest”);
• A5083, L.P. (“A5083”);
• A4048, L.P. (“A4048”);
• Altaris VI-4042, L.P. (“VI-4042”), and collectively with Fund II, Fund III, Constellation, Fund IV, Constellation IV, Fund V, Fund VI, Co-Invest, Co-Invest-A, V-4041, V- 4042, V-5082, T-Co-invest, A5083 and A4048, collectively with any future private investment fund to which Altaris or its affiliates provide investment advisory services, the “Partnerships”). The General Partners each serve as general partner to one or more Partnerships or other pooled investment vehicles and have the authority to make the investment decisions for the Partnerships to which they provide advisory services. The Management Entities provide day to day advisory services for the Partnerships. Each of the General Partners, Manager IV, Manager V and Manager VI is subject to the Advisers Act pursuant to the Management Company’s registration in accordance with SEC guidance. This Brochure also describes the business practices of the General Partners, Manager IV, Manager V and Manager VI, which operate as a single The Partnerships invest through negotiated transactions in operating entities, generally referred to herein as “portfolio companies.” The Advisers’ investment advisory services to the Partnerships consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving
dispositions for such investments. Although investments are made predominantly in non-public companies, investments in public companies are permitted, subject to certain limitations in the limited partnership or other operating agreement of each Partnership (each, a “Partnership Agreement”). Where such investments consist of portfolio companies, the senior principals or other personnel of the Advisers or their affiliates generally serve on such portfolio company’s board of directors or otherwise act to influence control over management of portfolio companies in which the Partnerships have invested. The Advisers’ advisory services to the Partnerships are detailed in the applicable private placement memoranda and other offering documents (each, a “Memorandum”) and Partnership Agreements and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss” and “Investment Discretion.” Investors in the Partnerships participate in the overall investment program for the applicable Partnership, but may be excused from a particular investment due to legal, regulatory or other applicable agreed-upon circumstances pursuant to the applicable Partnership Agreement. The Partnerships or the Advisers may enter into side letters or similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights (including economic or other terms) under, or altering or supplementing the terms of, the relevant Partnership Agreement with respect to such investors. Additionally, the Advisers are permitted to provide (or agree to provide) investment or co- investment opportunities (including the opportunity to participate in co-invest vehicles) to certain current or prospective investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, portfolio company management or personnel, Adviser personnel and/or certain other persons associated with the Advisers and/or their affiliates (to the extent not prohibited by the applicable Partnership Agreement), including opportunities to participate in co-invest vehicles that will invest in certain portfolio companies alongside a Partnership. Such co-investment opportunities typically involve investment and disposal of investments in the applicable portfolio company at the same time and on the same terms as the Partnership making the investment. However, for strategic and other reasons, a co-investor or co- invest vehicle may purchase a portion of an investment from a Partnership. Any such purchase from a Partnership by a co-investor or co-invest vehicle generally would occur shortly after the Partnership’s completion of the investment to avoid any changes in valuation of the investment. Where appropriate, and in the relevant Adviser’s sole discretion, an Adviser is authorized to charge interest on the purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price under certain conditions), and to seek reimbursement to the relevant Partnership for related costs. However, to the extent such amounts are not so charged or reimbursed (including charges or reimbursements required pursuant to applicable law), they generally will be borne by the relevant Partnership. As of December 31, 2023, Altaris managed $9,414,930,097 in client assets on a discretionary basis. TYSON Partners, L.P., a Delaware limited partnership (“TYSON”), is the sole member of the Management Company. The general partner of TYSON is Altaris Partners, LLC which is principally owned by George E. Aitken-Davies and Daniel G. Tully.