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Adviser Profile

As of Date 03/29/2024
Adviser Type - Large advisory firm
Number of Employees 21 5.00%
of those in investment advisory functions 14 7.69%
Registration SEC, Approved, 3/28/2012
AUM* 1,130,485,867 -15.43%
of that, discretionary 1,130,485,867 -15.43%
Private Fund GAV* 1,130,485,867 -15.43%
Avg Account Size 188,414,311 12.76%
SMA’s No
Private Funds 6 2
Contact Info 312 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
1B 1B 955M 764M 573M 382M 191M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count6 GAV$1,130,485,867

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Brochure Summary

Overview

Prairie Management Company, L.P., a Delaware limited partnership and a registered investment adviser (the “Management Company,” and collectively with its affiliated investment advisory entities and other organizations, “Prairie Capital” or “Prairie”), is a private investment management firm that provides investment advisory services to investment funds that invest in certain assets and are privately offered to qualified investors in the United States and elsewhere. Prairie Capital commenced operations in July 1997 and the Management Company commenced operations in December 2003. The following general partner entities are affiliated with the Management Company (collectively, with the Management Company, the “Advisers”):  Daniels & King Capital V, L.L.C. (“GP V”);  Daniels & King Capital VI, L.L.C. (“GP VI”); and  Prairie VII GP, LLC (“GP VII,” and collectively, together with GP V and GP VI, and any future affiliated general partner entities, the “General Partners”). The Advisers’ clients include the following (each, a “Partnership,” and collectively, together with any future private investment fund to which the Advisers and/or their affiliates provide investment advisory services, the “Partnerships”):  Prairie Capital V, L.P. (“PC V LP”);  Prairie Capital V QP, L.P. (“PC V QP,” and together with PC V LP, “PC V”);  Prairie Capital VI, L.P. (“PC VI LP”);  Prairie Capital VI QP, L.P. (“PC VI QP,” and together with PC VI LP, “PC VI”);  Prairie Capital VII, L.P. (“PC VII LP”); and  Prairie Capital VII QP, L.P. (“PC VII QP,” and together with PC VII LP, “PC VII”). The General Partners each serve as general partner to one or more Partnerships and have the authority to make the investment decisions for the Partnerships to which they provide advisory services. The Management Company provides the day to day advisory services for the Partnerships pursuant to a management services agreement. Each General Partner is subject to the Advisers Act pursuant to the Management Company’s registration in accordance with SEC guidance. This Brochure describes the business practices of the Advisers, which operate as a single advisory business and are under common control. References contained in this Brochure to the strategy and operations of a General Partner should be read to include the activities of the Management Company and other Prairie affiliates that collectively engage in the investment process and ongoing management of the Partnerships’ portfolio companies. The Partnerships are private equity funds and are expected to 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. Where such investments consist of portfolio companies, the senior principals or other personnel of the Advisers or their affiliates generally serve on a portfolio company’s board of directors or otherwise act to influence control or management of portfolio companies in which the Partnerships have invested. The Advisers’ advisory services to the Partnerships are further described in the relevant private placement memoranda or other offering documents (each,
a “Memorandum”) and limited partnership agreements or other operating agreements of the Partnerships (each, a “Partnership Agreement” and, together with any relevant Memorandum, the “Governing Documents”), as well as below under “Methods of Analysis, Investment Strategies and Risk of Loss” and “Investment Discretion.” Investors in each Partnership (generally referred to herein as “investors” or “limited partners”) participate in the overall investment program of such Partnership, 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 the Advisers and any investor. The Partnerships or the General Partners generally enter into side letters or similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights (including rights to economic or other terms) under, or altering or supplementing the terms of the relevant Governing Documents with respect to such investors. Additionally, as permitted by the Governing Documents, Advisers expect 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. Such co-investments typically involve investment and disposal of interests 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 (including a co-investing Partnership) purchases a portion of an investment from one or more Partnerships after such Partnerships have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer), which generally will have been funded through Partnership investor capital contributions and/or use of a Partnership credit facility. Any such purchase from a Partnership by a co-invest vehicle generally would occur shortly after the Partnership’s completion of the investment to avoid any changes in valuation of the investment, but in certain instances could be well after the Partnership’s initial purchase. Where appropriate, and in the Advisers’ sole discretion, the Advisers reserve the right 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, the Management Company managed approximately $1,130,485,867 in client assets on a discretionary basis. Prairie Management GP, LLC and Daniels & King Management GP, L.L.C. are the general partners of the Management Company. The Management Company is principally owned by Nathan J. Good, Patrick J. Jensen, Christopher T. Killackey, Sean M. McNally, C. Bryan Daniels and Stephen V. King.