Overview
The Adviser is an investment advisory firm organized as a limited liability company under the laws of
the State of Delaware with its principal place of business in Los Angeles, California. The Adviser
commenced operations as an investment adviser in December of 2011 and its relying adviser Extract
Advisors (Canada) Inc. commenced operations in December 2010. The Adviser is owned by Darin
Milmeister, who serves as the managing member (the “Managing Member”).
The Adviser provides discretionary investment advisory services to its clients, which are private pooled
investment vehicles (the “Funds”) and may, in the future, include one or more separately managed
accounts (the “Separately Managed Accounts” and, together with the Funds, the “Clients”), which are
intended for institutional and other sophisticated investors. The Adviser generally has broad and flexible
investment authority with respect to the Clients’ investment portfolios. It provides investment advisory
services to the Clients based on each Client’s specific investment objectives and strategies as set forth in
the Offering Documents
(as such term is defined in Item 5 below). The Adviser does not tailor its advisory
services to the individual needs of investors in the Funds. Each Client may have investment restrictions
on investing in certain securities or other assets, to the extent such securities are outside of the applicable
Client’s existing investment program.
Extract currently does not provide investment advisory services to Clients apart from its management of
the Funds and does not participate in wrap fee programs. The Adviser does provide certain research and
evaluation services to an entity managed by an unaffiliated third party (the “Third Party”), for which the
Adviser will receive an asset-based fee for. Such services may include information related to general
economic and marketing conditions as well. Extract may, from time to time in the future, serve as the
investment adviser or management company for additional funds or other accounts.
As of December 31, 2023, the Adviser had approximately $669,551,821 client regulatory assets under
management, all of which were managed on a discretionary basis.