9AT: VANTAGE INFRASTRUCTURE (USA) INC.

other names

VANTAGE INFRASTRUCTURE (USA) INC.
HASTINGS FUNDS MANAGEMENT (USA), INC.

Adviser Profile

As of Date	03/31/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	4 -20%
of those in investment advisory functions	4
Registration	SEC, Approved, 03/27/2012

AUM^*	385,485,463 -23%
of that, discretionary	109,291,210 -56%
Private Fund GAV^*	108,798,132 -68%
Avg Account Size	55,069,352 -34%
SMA’s	Yes
Private Funds	1
Contact Info	212 xxxxxxx
Websites

Client Types

- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- Insurance companies
- Other

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count1	GAV$108,798,132

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser FOUNDATION ENERGY MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund308.1m	Total Private Fund GAV308.1m	AUM308.1m	#Funds7
Adviser TCA FUND MANAGEMENT GROUP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM496.8m	#Funds-
Adviser LUCASHILL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund346.6m	Total Private Fund GAV346.6m	AUM644.5m	#Funds2
Adviser TRANSATLANTIQUE PRIVATE WEALTH LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund58.9m	Total Private Fund GAV58.9m	AUM676.2m	#Funds2
Adviser SOCORRO ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund375.9m	Total Private Fund GAV375.9m	AUM536.8m	#Funds1
Adviser KERA CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund22.0m	Total Private Fund GAV22.0m	AUM1.1b	#Funds6
Adviser MATRIX PRIVATE CAPITAL GROUP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund34.4m	Total Private Fund GAV34.4m	AUM494.9m	#Funds4
Adviser HEARTWOOD FUNDS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund72.7m	Total Private Fund GAV72.7m	AUM292.2m	#Funds2
Adviser HIGHCREST CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund758.9m	Total Private Fund GAV758.9m	AUM758.9m	#Funds2
Adviser VENDERA MANAGEMENT HOLDINGS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund663.1m	Total Private Fund GAV663.1m	AUM663.1m	#Funds13

Brochure Summary

Overview

Page 5 of 17 The Adviser generally seeks to receive from its Clients an annual asset-based fee (“Base Advisory Fee”) as compensation for its advisory services. However, some non-Fund Clients have different arrangements. Each fee-paying client receives a separate fee bill. Client fees are not automatically deducted from Client accounts. In addition, Clients may be required to pay other fees and expenses associated with their accounts generally (e.g., custody costs, auditing fees, legal fees) or with infrastructure investing specifically, such as broken deal expenses, discussed in Item 8, below. The Adviser has two categories of non-Fund Clients: (1) an affiliated, nondiscretionary Client; and (2) unaffiliated nondiscretionary accounts. Fee arrangements vary depending on the applicable category. Fees are paid quarterly in arrears and any payment for a period of less than three months shall be adjusted on a pro rata basis according to the actual number of days during the period. Fees are based on the amount of capital invested in the Client’s account, meaning the aggregate outstanding principal amount of portfolio securities recommended by the Adviser to the Client minus the net write down of any asset. The fee rate is dependent on the amount of invested capital each quarter. No fee is paid unless such Clients acquire an asset recommended by the Adviser. Performance Fee Currently, the Adviser has an agreement to receive Performance Fees

from a Client and may seek partial compensation by way of Performance Fees from future clients. See Item 6 below for further information related to performance fees. The Adviser may receive performance fees as a portion of its compensation for its investment management services from some clients. A performance fee is based upon a percentage of out- performance of the account being managed based on a benchmark agreed with each client. As a result, the Adviser may have varying levels of performance fee and asset-based fee accounts across its client base. Performance fees may create certain inherent conflicts of interest with respect to the Adviser’s management of assets. Specifically, our entitlement to a performance fee in managing one or more accounts may create an incentive for us to take risks in managing assets that the Adviser would not otherwise take in the absence of such arrangements. The Adviser has adopted and implemented policies and procedures intended to address conflicts of interest relating to the management of multiple accounts (including accounts with multiple fee arrangements) and the allocation of investment opportunities. The Adviser has implemented policies and procedures designed to ensure that no Client for whom the Adviser has investment decision responsibility shall receive preferential treatment over any other Client, and that, in allocating securities among Clients, all Clients are treated fairly.

VANTAGE INFRASTRUCTURE (USA) INC.

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