Siris was founded in November 2010 by Frank Baker, Peter Berger and Jeffrey Hendren (the
“Principals”), who have worked together for more than twenty-three years. The Principals
are, indirectly, the principal owners of Siris Capital Group, LLC.
Siris provides investment management services to investment funds that are offered to
qualified investors in the United States and elsewhere on a private placement basis.
Currently, Siris provides investment management services to the funds listed in the table
below (each, a “Fund,” and, together with any future private investment fund to which Siris
or its affiliates provide investment advisory services, the “Funds”). Each Fund’s general
partner (each, a “General Partner” and together, the “General Partners”) and the owners of
such General Partner (each, a “General Partner Owner”) are also indicated in the table. The
Principals directly or indirectly jointly control and principally own each General Partner
Owner.
Fund General Partner General Partner Owner
Siris Partners II, L.P. Siris Partners GP II, LLC Managing Member: Siris
Partners Carry Vehicle, L.P.
Other Member: Siris
Partners Feeder, L.P.
Siris Partners II Parallel, L.P. Siris Partners GP II, LLC Managing Member: Siris
Partners Carry Vehicle, L.P.
Other Member: Siris
Partners Feeder, L.P.
Siris Partners II Co-
Investment, L.P. (the “Co-
Invest Fund”)
Siris Partners GP II, LLC Managing Member: Siris
Partners Carry Vehicle, L.P.
Other Member: Siris
Partners Feeder, L.P.
Siris Partners II (Cayman)
Main I LP
Siris Partners II (Cayman)
GP I LP
GP: Siris Partners II
(Cayman) GP Holdco I LP
LP: Siris Partners Carry
Siris Partners II (Cayman)
Parallel I LP
Siris Partners II (Cayman)
GP I LP
GP: Siris Partners II
(Cayman) GP Holdco I LP
LP: Siris Partners Carry
Siris Partners III, L.P. Siris Partners GP III, L.P. GP: Siris GP HoldCo III, LLC
LP: Siris Partners Carry
LP: Siris Employees Carry
Vehicle III, L.P.
Siris Partners III Parallel,
L.P.
Siris Partners GP III, L.P. GP: Siris GP HoldCo III, LLC
LP: Siris Partners Carry
Vehicle, L.P.
LP: Siris Employees Carry
Vehicle III, L.P.
Siris Partners III (Cayman)
Main I L.P.
Siris Partners III (Cayman)
GP I L.P.
GP: Siris Partners III
(Cayman) GP I, Ltd.
LP: Siris Partners Carry
Vehicle, L.P.
LP: Siris Employees Carry
Vehicle (Cayman) III, L.P.
Siris Partners III (Cayman)
Parallel I L.P.
Siris Partners III (Cayman)
GP I L.P.
GP: Siris Partners III
(Cayman) GP I, Ltd.
LP: Siris Partners Carry
LP: Siris Employees Carry
Vehicle (Cayman) III, L.P.
Siris Partners IV, L.P. Siris Partners GP IV, L.P. GP: Siris GP HoldCo IV, LLC
LP: Siris Partners Carry
LP: Siris Employees Carry
Vehicle IV, L.P.
Siris Partners IV Parallel,
L.P.
Siris Partners GP IV, L.P. GP: Siris GP HoldCo IV, LLC
LP: Siris Partners Carry
LP: Siris Employees Carry
Vehicle IV, L.P.
Siris Partners IV (Cayman)
Main, L.P.
Siris Partners IV (Cayman)
GP, L.P.
GP: Siris Partners IV
(Cayman) GP, Ltd.
LP: Siris Partners Carry
Vehicle, L.P.
LP: Siris Employees Carry
Vehicle (Cayman) IV, L.P.
Siris Partners IV (Cayman)
Parallel, L.P.
Siris Partners IV (Cayman)
GP, L.P.
GP: Siris Partners IV
(Cayman) GP, Ltd.
LP: Siris Partners Carry
Vehicle, L.P.
LP: Siris Employees Carry
Vehicle (Cayman) IV, L.P.
Siris has full discretionary authority with respect to investment decisions for the Funds, and
its advice is made in accordance with the investment objectives and guidelines set forth in
each Fund’s offering memorandum.
This Brochure does not constitute an offer to sell or solicitation of an offer to buy any
securities. Persons reviewing this Brochure should not construe this as an
offer to sell or
solicitation of an offer to buy the securities of any of the Funds described herein. Any such
offer or solicitation will be made only by means of a confidential private placement
memorandum.
As more fully described in each Fund’s private placement memorandum, Siris’ investment
objective is to make investments principally in equity or equity-related securities or, in
certain circumstances, debt investments in a variety of industries. Siris is not limited in the
industries in which it can invest, but intends to focus on investment opportunities in the
technology, telecommunications and technology-enabled business services sectors.
Siris’ core investment strategy is to (i) understand fundamental market and/or technology
transitions and the specific sectors that are impacted by these paradigm shifts, (ii) identify
value businesses within these sectors that are in transitional stages, (iii) target mature,
leading technology companies that have the potential to unlock growth vectors for long-term
strategic positioning, (iv) structure a transaction around a disciplined purchase price and
innovative structures that seek to optimize returns and minimize risk, (v) develop and
implement a specific business plan to execute strategic value creation initiatives post
acquisition, and (vi) successfully exit these investments in a manner designed to optimize
returns. Siris’ operations-intensive strategy integrates a group of senior operating
executives, consultants, advisors and other professionals in similar roles (“Operating
Professionals”), who work closely with the Siris investment team in sourcing, diligencing and
implementing post-acquisition operating improvements at target companies. In this context,
“Operating Professionals” means operating executives and other similar consultants
(regardless of title, including “Executive Partners”, “Executive Advisors” or “Operating
Executives”).
Please see Item 8 for a more detailed description of Siris’ investment strategies.
The descriptions set forth in this Brochure of specific advisory services that Siris offers to
the Funds should not be understood to limit in any way Siris’ investment activities. Siris is
permitted to offer any advisory services, engage in any investment strategy and make any
investment that Siris considers appropriate, subject to each Fund’s investment objectives
and guidelines. The investment strategies Siris pursues are speculative and entail substantial
risks. Investors should be prepared to bear a substantial loss of capital. There can be no
assurance that the investment objectives of any Fund will be achieved.
Siris’ advisory services for the Funds are detailed in the applicable limited partnership
agreements or other governing agreements of the Funds (each, a “Partnership Agreement”
and, together with any investment management agreements, relevant private placement
memoranda or other offering documents, the “Governing Documents”), and are further
described below under “Methods of Analysis, Investment Strategies and Risk of Loss.”
Investors in the Funds (generally referred to herein as “investors” 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; such arrangements
generally do not and will not create an adviser-client relationship between Siris and any
investor. Certain Funds and/or the General Partners have entered into side letters or other
similar agreements (“Side Letters”) with certain investors that have the effect of establishing
different and preferential rights (including economic or other terms) under, or altering or
supplementing the terms of, the relevant Governing Documents with respect to such
investors.
As of December 31, 2023, Siris manages approximately $7,264,345,445 in assets on a
discretionary basis.