Overview
A. Description of the Advisory Firm
Greenoaks Capital Partners LLC is a limited liability company organized on April 11, 2012
under the law of the State of Delaware. Benjamin Peretz and Neil Mehta are the managing
members and beneficial owners of the Investment Manager.
B. Description of Advisory Services
Greenoaks Capital provides investment advice and management to privately placed
investment funds (as described in response to Item 10 below), for which Greenoaks
Capital, or an affiliate, is either the general partner or investment manager (the “Funds”
or “Clients”). Investment advisory services are provided to each Client pursuant to
separate investment management agreements between each Client and Greenoaks Capital
or its affiliate. In addition to typical venture capital funds, Greenoaks Capital provides
investment advisory services to private funds as part of an investment trading strategy and
to co-investment Funds that include, but are not limited to, certain investors in other
Greenoaks Capital Funds.
Greenoaks Capital primarily seeks to make long-term investments in companies that can
compound free cash flow at above-market rates over a sustained period of time.
The Clients conduct a private offering of their interests (“Interests”) to certain qualified
investors as described in the response to Item 7 below (such investors and prospective
investors are referred to herein as “Investors”).
C. Client Tailored Services and Client Imposed Restrictions
Greenoaks Capital
manages each Client’s investments in accordance with the investment
objectives and strategies set forth in the Client’s limited partnership agreement, an operating
agreement and/or offering documents (collectively, “Governing Documents”). As set forth
in the Governing Documents for each Client, Greenoaks Capital is subject to certain
investment concentration limits, thresholds and other restrictions. Other than as set forth in
each Client’s Governing Documents, there are no material limitations on the instruments,
strategies and markets in which the Investment Manager may trade, nor is it subject to any
formal diversification or consultation requirements with the Clients or their Investors.
In certain cases, Greenoaks Capital or its affiliates have entered into side letter agreements with
certain Investors in a Client establishing rights under, or supplementing or altering the terms
of, the applicable Governing Documents, including without limitation, transparency rights,
reporting rights, socially responsible investment guidelines, capacity rights, approval rights and
certain other protections, and the right to receive certain special allocations. Greenoaks Capital
does not otherwise accept Investor-imposed investment restrictions and does not tailor its
advisory services to the individual needs of Investors.
D. Wrap Fees
Greenoaks Capital does not participate in wrap fee programs.
E. Assets Under Management
As of December 31, 2023, the Investment Manager had $9,506,156,499 of regulatory assets
under management on a discretionary basis.