Overview
ADVISORY BUSINESS
FIRM DESCRIPTION
Water Street Capital, Inc. (“WSC” or “we”) is a Florida corporation formed in 1987, and is located in
Jacksonville, Florida. We are a private investment advisory firm providing investment management
services to private pooled investment vehicles. WS Management, LLLP (“WSM”), an affiliate of WSC, is
a Florida limited liability limited partnership, which acts as the general partner for five domestic funds.
Gilchrist B. Berg is the principal owner and President of WSC and the managing general partner of WSM.
Mr. Berg has ultimate responsibility for the management, operations and investment decisions made by
WSC. WSC has full discretionary authority with respect to investment decisions, and our investment advice
is provided in accordance with the investment objectives and guidelines set forth in the applicable offering
materials and/or governing documents for the various funds.
ADVISORY SERVICES
WSC serves as the advisory management company for five Florida limited partnerships, each a “Fund” and
as a group the “US Funds”. The interests in these U.S. Funds are offered on a private placement basis, and
in compliance
with the exemptions provided by Section 3(c)(1) of the Investment Company Act of 1940 to
persons who are “accredited investors” as defined under the Securities Act of 1933 for one partnership and,
for the other partnerships, in compliance with the exemptions provided by Section 3(c)(7) “qualified
purchasers” (or “knowledgeable employees”) as defined under the Investment Company Act of 1940, and
subject to other conditions, which are set forth in the offering documents for the partnerships.
Our advisory services are provided in accordance with the investment objectives, policies and guidelines
set forth in the applicable offering documents and/or governing documents and are not tailored to the
individual needs of any investor. See Item 8. As private investment vehicles, the Funds do not impose
restrictions on investments in certain securities or types of securities. Any such restrictions are determined
by the Adviser and are disclosed in the offering documents.
As used herein, the term “client” generally refers to each of the Funds.
ASSETS UNDER MANAGEMENT
As of December 31, 2023, we had approximately $2.065 billion in assets under management in the five
Funds.