Greenbriar was formed as a Delaware limited liability company in 1999 by principal owners Joel S.
Beckman, Gerald Greenwald and Reginald L. Jones, III, and converted to a Delaware limited
partnership in 2018. As of March 31, 2023, Reginald L. Jones, III, Jill Raker and Noah Roy are
Greenbriar’s Managing Partners (“Managing Partners”) for Greenbriar Equity Fund III, L.P. (“Fund
III”), Greenbriar Equity Fund III-A, L.P., Greenbriar Equity Fund IV, L.P. (“Fund IV”), Greenbriar
Equity Fund IV-A, L.P. (“Fund IV-A”), Greenbriar Equity Fund V, L.P. (“Fund V”) and Greenbriar
Equity Fund VI, L.P. (“Fund VI”) and Niall McComiskey and Michael Weiss are additionally Managing
Partners for Fund V and Fund VI. Greenbriar SLP IV, L.P. serves as the management company of Fund
IV and Fund IV-A and is registered with the SEC under the Advisers Act pursuant to Greenbriar Equity
Group, L.P.’s registration. Greenbriar SLP V, L.P. serves as the management company of Fund V and
is registered with the SEC under the Advisers Act pursuant to Greenbriar Equity Group, L.P.’s
registration. Greenbriar SLP IV, L.P. and Greenbriar SLP V, L.P. are registered with the SEC under the
Advisers Act pursuant to Greenbriar’s registration and are principally owned by the Managing Partners.
Unless the context otherwise requires, references to Greenbriar herein include Greenbriar SLP IV, L.P.
and Greenbriar SLP V, L.P.
We provide discretionary investment advice solely to private equity funds that seek to participate in
private equity investments in companies primarily in market leading services and manufacturing
businesses with proven management teams capitalizing on strong long-term growth prospects that can
benefit from Greenbriar’s deep sectoral expertise and strategic insight alongside its operating
capabilities and network of senior executive relationships. The private equity funds are referred to in
this brochure as the “Funds,” each a “Fund,” or our “Clients.” Investors in the Funds are referred to in
this brochure as “investors” or “limited partners.”
The investment management services that we provide to our Clients primarily consist of selecting,
investigating, structuring and negotiating private equity investments and dispositions, monitoring the
performance of these investments and performing certain administrative services. These services are
provided pursuant to investment management agreements with the Funds and as a result of a delegation of
authority by the general partner of each Fund (each a “General Partner” and collectively, together with
any future affiliated general partner entities, the “General Partners”). We provide advice to each Client
that takes into account its investment
objectives and the investment restrictions contained in its limited
partnership agreement, investment management agreements and other governing documents
(collectively, the “Governing Documents”). A Fund generally enter into letter agreements or other
similar agreements (“Side Letters”) with one or more investors which provide such investors with
additional or different rights than such investors otherwise have pursuant to such Fund’s Governing
Documents.
Additionally, as permitted by the relevant Fund’s limited partnership agreement, Greenbriar expects to
provide (or agree to provide) co-investment opportunities (including the opportunity to participate in
co-invest vehicles) to certain current or prospective investors or other persons, including, but not limited
to, other sponsors, market participants, finders, consultants and other service providers, portfolio company
management or personnel, Greenbriar personnel and/or certain other persons associated with Greenbriar
and/or its affiliates. Such co-investments typically involve investment and disposal of interests in the
applicable portfolio company at the same time and on the same terms as the Fund making the investment.
However, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund)
purchases a portion of an investment from one or more Funds after such Funds have consummated their
investment in the portfolio company (also known as a post-closing sell-down or transfer), which
generally will have been funded through Fund investor capital contributions and/or use of a Fund credit
facility. Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly
after the Fund’s completion of the investment to avoid any changes in valuation of the investment.
Where appropriate, and in Greenbriar’s sole discretion, Greenbriar reserves the right to charge interest
on the purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price
under certain conditions), and to seek reimbursement to the relevant Fund for related costs. However, to
the extent any such amounts are not so charged or reimbursed (including charges or reimbursements
required pursuant to applicable law), they generally will be borne by the relevant Fund.
Wrap Fee Programs
We do not participate in wrap fee programs.
Assets Under Management
As of December 31, 2023, we manage $8,632,065,097 of Client assets on a discretionary basis. This
includes both invested capital and the committed capital that may be called by the Funds from their
respective limited partners. We do not manage Client assets on a non-discretionary basis.