A. Description of Advisory Firm
Cohesive Capital Management, L.P., a Delaware limited partnership (“Cohesive”, the “Firm”,
“we”, “us”, or “our”), is a private equity firm established in March 2010 by John Barber, the
Firm’s sole owner
1.
Cohesive currently provides investment advisory services to Cohesive Capital Partners, L.P.,
Cohesive Capital Partners II, L.P., Cohesive Capital Partners III, L.P., Cohesive Capital
Partners IV, L.P., and Liberty 2020 Partners, L.P., Delaware limited partnerships, and their
related affiliates (together, referred to as the “Funds” or “Clients”). The general partner of
Cohesive Capital Partners, L.P. is Cohesive Capital (GP), L.P., the general partner of Cohesive
Capital Partners II, L.P. is Cohesive Capital II (GP), L.P., both Delaware limited partnerships.
The general partner of Cohesive Capital Partners III, L.P. is Cohesive Capital III (GP), LLC,
the general partner of Cohesive Capital Partners IV, L.P. is Cohesive Capital IV (GP), LLC,
and the general partner of Liberty 2020 Partners, L.P. is Liberty 2020 GP, LLC, which are all
Delaware limited liability companies (together with the general partners of any other Fund, the
“General Partners”). The General Partners and Cohesive are affiliates. The General Partners
have the power and authority to delegate the management of the investments of the Funds to
Cohesive. The General Partners and the Funds have entered into management agreements with
Cohesive to document the delegation of the management of each Fund to Cohesive.
Cohesive’s investment objective and strategy for the Funds is to generate capital appreciation
through privately negotiated equity and equity-related investments. Investments may be
effected using a broad variety of investment types and transaction structures, including buyout
investments, direct or indirect private equity investments, secondary direct transactions,
strategic investments, restructurings and recapitalizations. Based on our advice, the Funds will
generally make investments jointly in a transaction originated and
led by another private equity
firm or financial sponsor. As such, actual asset holdings of the Funds generally take the form
of (1) cash, (2) publicly or privately held common and preferred stock, (3) limited partnership
or limited liability company interests or units, (4) debt investments or (5) other investments
typical of private equity investment funds.
B. Types of Advisory Services Offered
Cohesive provides advice to the Funds in respect of their investment portfolios, as well as
certain ancillary managerial and administrative services, including, without limitation,
identifying and screening potential investments, monitoring the performance of investments,
and preparing reports necessary or appropriate for compliance with the governing agreements
of the Funds. Cohesive invests on behalf of its Clients principally in equity and other securities
of private companies as a minority owner in transactions originated and led by another private
equity firm or financial sponsor. See also Item 4.A. above.
1 Including ownership in his individual name, his wife Staci Barber’s individual name, and via a single member LLC
that Mr. Barber controls.
C. Services Tailored to Individual Needs of Clients
Cohesive tailors its advisory services to the specific investment objectives and strategy of the
Funds, as set out in their private offering materials (“Governing Documents”). In certain cases,
our clients may narrowly tailor their investment programs when they hire us to advise them.
Among others, tailored investment programs may include: limitations on investments in certain
industries, concentration limits (investment size in dollars, investment size as % of investment
program, industry, sponsor, etc.) and amount investable during the course of a year.
D. Wrap Fee Programs
Cohesive does not participate in wrap fee programs.
E. Client Assets Under Management
As of December 31, 2023, Cohesive had $1,389,013,194 in regulatory assets under
management on a discretionary basis. Cohesive does not currently manage any assets on a
non-discretionary basis.