The Management Company, a Cayman Islands exempted limited partnership and a
registered investment adviser, and its affiliated investment advisers provide investment advisory
services to investment funds privately offered to qualified investors in the United States and
elsewhere. The Management Company commenced operations in 2006.
The Management Company’s clients include the following (each, a “Fund,” and
collectively, together with any feeder funds and future private investment fund to which the
Management Company and/or its affiliates provide investment advisory services, the “Funds”):
• New Silk Route PE Asia Fund, L.P.
• New Silk Route PE Asia Fund-A, L.P.
The following registered investment advisers are affiliated with the Management
Company:
• New Silk Route PE Associates, L.P. (the “General Partner”)
• NSR Mauritius Advisors, LLC (“NSR Mauritius”)
(each, an “Affiliate,” and together with the Management Company and their affiliated entities the
“Advisers”).
Each Affiliate is registered under the Advisers Act pursuant to the Management
Company’s registration in accordance with SEC guidance, and the Affiliates operate as a single
investment advisory services to the Funds on investments in India. The Management Company
provides discretionary investment advisory services to the Funds on non-Indian investments, and
the Management Company also provides non-discretionary investment advisory services to NSR
Mauritius with respect to investments in Asia.
In its capacity as the general partner of the Funds, the General Partner has the authority to
manage the business and affairs of Funds. The Funds are private equity funds and invest typically
through negotiated transactions in operating entities, generally referred to herein as “portfolio
companies.” The Advisers’ investment advisory services to the Funds consist of identifying and
evaluating investment opportunities, negotiating the terms of investments, managing and
monitoring investments and achieving dispositions for such investments. Investments are made
predominantly in non-public companies, although investments in public companies are permitted.
Where such investments consist of portfolio companies, the senior principals or other personnel of
the Advisers generally serve on such portfolio companies’ respective boards of directors
or
otherwise act to influence control over management of portfolio companies held by the Funds.
The Advisers’ discretionary advisory and non-discretionary sub-advisory services for the
Funds are typically detailed in the relevant private placement memoranda (each, a
“Memorandum”), limited partnership agreements (each, a “Partnership Agreement”),
subscription agreements (each, a “Subscription Agreement”) and, as applicable, side letters (the
“Side Letters” and together with the Memorandum, the Partnership Agreement and the
Subscription Agreements, 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; 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 Funds or the Advisers have
entered into Side Letters or other similar agreements with certain investors that have the effect of
establishing rights (including economic or other terms) under, or altering or supplementing the
terms of, the Governing Documents with respect to such investors.
As of December 31, 2023, the Management Company managed approximately
$536,924,444 in client assets on a discretionary basis. New Silk Route Partners, Ltd., acts as the
general partner of the Management Company and the General Partner. Parag Saxena, the Chief
Executive Officer of the Management Company, is the principal owner of New Silk Route
Partners, Ltd.
All of the information in this Part 2A of the ADV is subject to the underlying Governing
Documents for each of the Funds and, in certain circumstances, such Governing Documents
include provisions which, or may be amended to, grant the relevant General Partner and/or the
investors rights or obligations beyond those described herein. Additionally, the Governing
Documents for a particular Fund will often include additional information and detail regarding the
risks related to an investment in such Fund.