Overview
Thayer GP VI LLC (“Thayer”) is a Delaware limited liability company that in its capacity as
general partner to Thayer Hotel Investors VI Feeder LP and Thayer Hotel Investors VI LP
(collectively, the “Thayer Funds”) from time to time provides investment advisory services. The
Thayer Funds were organized by affiliates of Thayer to principally invest in real estate properties
and projects in the hospitality industry, but from time to time certain of these investments may be
in the form of securities rather than real estate assets. Thayer entered into a written asset
management agreement with Thayer Lodging Group LLC, a Brookfield Company (“Brookfield
Adviser”), as of May 15, 2014 which was agreed to by the Thayer Funds. Brookfield Adviser is
not a related person of Thayer. As described in the asset management agreement, Brookfield
Adviser is responsible for managing the day-to-day affairs of the Thayer Funds and advising
Thayer and the Thayer Funds on certain aspects of the Thayer Funds’ investments. Thayer
retains ultimate decision-making authority over certain actions by Brookfield Adviser, including
the obligation to obtain any applicable investor, limited partner committee or investment
committee consents required under the applicable Thayer Fund’s governing documents prior to
approving such actions.
Thayer’s services include evaluating proposed real estate investments and divestments
based on
recommendations made by the Brookfield Adviser. Other services performed by Brookfield
Adviser under the asset management agreement include performing regular valuations of clients’
portfolio investments and preparing reports for clients. All decisions with respect to investments
in or disposition of client assets are subject to Thayer’s ultimate decision-making authority.
The investment objectives and guidelines of the Thayer Funds and any investment limitations are
provided for in each fund’s formation documents. Due to Thayer’s status as the general partner
of each of the Thayer Funds, its advisory services are individually tailored to the needs and
investment objectives of each client. In certain instances, prospective investments with certain
attributes, as specified in the applicable fund agreement, must be submitted to the Thayer Fund’s
limited partner committee for review as part of the approval process. Individual investors in the
Thayer Funds are not considered to be clients of Thayer, and investment advice is not given
based on the individual investment objectives of Thayer Fund investors. Thayer reserves the
right to apply different fee and reporting arrangements to investors on an individual basis.
As of December 31, 2023, Thayer had $55,066,463 in regulatory assets under management
(including commitments), on a discretionary basis.