Overview
General Information
FC Capital Management, LLC, d/b/a/ Frontier Growth (the “Adviser”) is a Delaware limited
liability company organized in October 2007.
Frontier Funds Investment Advisory Services
The Adviser provides investment advisory services to certain pooled investment vehicles (each a
“Fund” and collectively, the “Funds”) that are exempt from registration under the Investment
Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under
the Securities Act of 1933, as amended (the “Securities Act”). As the investment adviser to each Fund,
the Adviser identifies investment opportunities for, and participates in the acquisition, management,
monitoring and disposition of investments of, the applicable Fund.
The following related persons of the Adviser, each of which is under common control with the Adviser,
serve as the general partners of the Funds (the “General Partners”): (i) Frontier Capital, LLC; (ii)
Frontier III Investment Group, LLC; (iii) Frontier IV Investment Group, LLC; and (iv) Frontier V
Investment Group, LLC and (v)Frontier Opportunity Fund GP, LLC. In providing services to the
Funds, the Adviser and the General Partners seek to tailor their services to the needs of the Funds.
Frontier Funds. The
Adviser provides discretionary investment advisory services to the following
Funds: (i) Frontier Fund III, L.P.; (ii) Frontier Fund IV, L.P.; (iii) Frontier Fund V-A, L.P., (iv)Frontier
Fund V-B, L.P., (v)Frontier Opportunity Fund-A, L.P. and (vi)Frontier Opportunity Fund-B, L.P.
(the “Frontier Funds”). For the Frontier Funds, the Adviser targets un- levered investments in
software and technology-enabled business services companies that exhibit profitability or near
profitability, predictable revenue, high gross margins and high growth potential. Investments made by
the Frontier Funds are typically structured as preferred equity to enhance returns and to provide
downside protection. Although the primary focus of each of the Frontier Funds is on private equity
investments, the Adviser may from time to time recommend other types of investments consistent
with the respective Fund’s investment strategy and objectives, as set forth in its offering documents.
Investment Discretion
All the Adviser’s investment advisory services are provided on a discretionary basis. As of
December 31, 2023, the Adviser had approximately $1,795,381,801in assets under management.
Principal Owners
Richard T. Maclean, Andrew D. Lindner and Goldpark Limited are the principal owners of the
Advisor.