9AT: H/2 CAPITAL PARTNERS

other names

H/2 CAPITAL PARTNERS
H/2 ASSET FUNDING 2015 MANAGER LLC (RELYING ADVISER)
H/2 TRS MANAGER, LP (RELYING ADVISER)
H/2 TRS II MANAGER LP (RELYING ADVISER)
H/2 TARGETED RETURN II MANAGER LLC (RELYING ADVISER)
H/2 SO MANAGER LP (RELYING ADVISER)
H/2 SO MANAGER IV LP (RELYING ADVISER)
H/2 SO MANAGER III LP (RELYING ADVISER)
H/2 SO MANAGER II LP (RELYING ADVISER)
H/2 INVESTORS MANAGEMENT LP (RELYING ADVISER)
H/2 INVESTORS III MANAGER LP (RELYING ADVISER)
H/2 FINANCIAL MANAGER LLC (RELYING ADVISER)
H/2 CREDIT MANAGER UK LLP
H/2 CREDIT MANAGER LP

Adviser Profile

As of Date	03/28/2025
ADV Location	STAMFORD, CT, United States
Adviser Type - Large advisory firm
Number of Employees	22 -19%
of those in investment advisory functions	12 -25%
Registration	SEC, Approved, 03/26/2012

AUM^*	5,006,666,223 6%
of that, discretionary	5,006,666,223 6%
Private Fund GAV^*	5,668,166,223 -19%
Avg Account Size	834,444,371 6%
SMA’s	No
Private Funds	12 1
Contact Info	203 xxxxxxx

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count11	GAV$5,006,666,223
Fund TypeOther Private Fund	Count1	GAV$661,500,000

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser WHITEHAVEN ASSET MANAGEMENT, LP	Hedge Fund4.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.8b	AUM4.8b	#Funds4
Adviser DEPRINCE, RACE & ZOLLO, INC.	Hedge Fund294.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV294.3m	AUM5.5b	#Funds1
Adviser TOBAM	Hedge Fund51.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV51.8m	AUM1.2b	#Funds3
Adviser TPG PEP ADVISORS, LLC	Hedge Fund2.9b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.9b	AUM2.9b	#Funds7
Adviser DORSAL CAPITAL MANAGEMENT, LP	Hedge Fund6.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.6b	AUM6.6b	#Funds7
Adviser ERGOTELES CAPITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.6b	#Funds-
Adviser CORECOMMODITY MANAGEMENT, LLC	Hedge Fund81.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV81.2m	AUM3.0b	#Funds6
Adviser BRAIDWELL LP	Hedge Fund6.9b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.9b	AUM5.2b	#Funds13
Adviser DAEMON INVESTMENT AND ASSET MANAGEMENT, LLC	Hedge Fund6.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.2b	AUM6.2b	#Funds5
Adviser MANTLE RIDGE LP	Hedge Fund3.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.3b	AUM3.3b	#Funds19

Brochure Summary

Overview

A. General Description of Advisory Firm The Adviser, a Delaware limited partnership, was formed in May 2004 and has its principal offices in Stamford, Connecticut. The general partner of the Adviser is H/2 Credit Manager GP LLC. The managing member and controlling owner of H/2 Credit Manager GP LLC is Spencer B. Haber. The Adviser and its investment advisory affiliates and advisers identified in the Adviser’s Form ADV, Part 1A (each, an “Investment Advisory Affiliate” or a “Relying Adviser” and sometimes collectively with the Adviser, the “Advisers”) provide investment advisory and asset management services to U.S. and non-U.S. pooled investment vehicles operating as private investment funds (each, a “Client” and collectively, the “Clients”) based on their respective investment objectives. B. Description of Advisory Services The Advisers serve as investment advisers to the Clients as set forth in the investment management agreements with the Clients and in each Client’s governing documents. The Advisers provide advice on a discretionary basis to the Clients primarily in respect of investments in private and/or public debt and other fixed income-related investments, in or relating to commercial real estate and related sectors. Please refer to Item 8 for a more detailed description of the Advisers’ investment strategies

as well as the securities, and other instruments, purchased by the Clients under the management of the Advisers. C. Availability of Customized Services for Individual Clients The Advisers’ investment decisions and advice with respect to each Client are subject to each Client’s investment objectives and guidelines, as set forth in its offering documents. In addition, the Advisers have the right to enter and have entered into agreements, such as side letters, with certain underlying investors of the Clients that may provide additional obligations on the Advisers or grant additional rights to the investors than what is provided to other underlying investors of the Clients. Persons reviewing this Form ADV Part 2A should not construe this as an offering to any of the Clients described herein, which will only be made pursuant to the delivery of a private placement memorandum to prospective investors. D. Wrap Fee Programs The Advisers do not participate in wrap fee programs. E. Assets Under Management The regulatory assets under management (including uncalled capital commitments) that the Adviser, its Investment Advisory Affiliates and Relying Advisers managed on a discretionary basis equaled $5,688,617,296 (the “RAUM”), using a December 31, 2023 valuation date for all Clients. As of December 31, 2023, the Advisers do not manage any assets on a non-discretionary basis.

H/2 CAPITAL PARTNERS

Adviser Profile

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

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Brochure Summary

Overview