Vicente Capital Partners is a private investment management firm, including several
investment advisory entities and other organizations affiliated with the Management Company
(collectively, “Vicente”).
The Management Company, a Delaware limited liability company and a registered
investment adviser, provides discretionary investment advisory services to private investment
funds. The Management Company commenced operations in August 2005.
Growth Equity Advisors, L.P., a Delaware limited partnership (the “General Partner”
and, together with the Management Company, the “Advisers”), is an affiliated adviser of the
Management Company. The Advisers’ clients include the following private equity funds (each, a
“Partnership” and, collectively, the “Partnerships” and, together with any future private
investment funds to which Vicente and/or its affiliates provide investment advisory services,
“Private Investment Funds”):
• Vicente Capital Long-Term Appreciation Fund, L.P. (“VCLTAF”); and
• Vicente Capital Partners Friends’ Fund, L.P. (formerly GEF Friends’ Fund, L.P.)
(the “Friends Fund”).
The General Partner serves as the general partner to each of the Partnerships and is
authorized to make the investment decisions on behalf of the Partnerships. The final closing of the
Friends Fund took place in January 2009, and the final closing of VCLTAF took place in January
2020. The Management Company provides the day-to-day advisory services to the General Partner
and the Partnerships. The 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. References
contained in this Brochure to the strategy and operations of the General Partner should be read to
include the activities of the Management Company and other Vicente affiliates that collectively
engage in the management of the Partnerships’ portfolio companies.
The Partnerships 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
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 under the Governing Documents (as defined below) of the
Partnerships. Where such investments consist of portfolio companies, the senior principals and/or
other personnel of the Advisers or their affiliates expect to serve on a portfolio company’s boards
of directors (or similar bodies) or otherwise act to influence control over management of portfolio
companies held by the Partnerships.
The Advisers’ advisory services for the Partnerships are detailed in the relevant private
placement memoranda or other offering documents or statements (each, a “Memorandum”),
limited partnership or other operating agreements (each, a “Partnership Agreement” and,
together with any relevant Memorandum, the “Governing Documents”) and are further described
below under “Methods of Analysis, Investment Strategies and Risk of Loss.” The General Partner
has retained the Management Company to provide investment advisory services to the
Partnerships. The advisory services of the Management Company are described herein. Investors
in the Partnerships (generally referred to herein as “investors” or “limited partners”) participate in
the overall investment program for the applicable Partnership, but in certain circumstances are
permitted to be 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 Advisers have entered into side letters or other
similar agreements (“Side Letters”) with certain investors that have the effect of establishing
rights under, or altering or supplementing the terms (including economic or other terms) of, the
Governing Documents with respect to such investors.
As of December 31, 2023, the Management Company managed approximately
$172,631,995 in client assets on a discretionary basis. The Management Company is principally
owned by Joseph E. Ferguson, Nicholas C. Memmo and Klaus E. Koch.