FIRM DESCRIPTION AND OVERVIEW
Crossplane Capital Management, LP, a Delaware limited partnership and private equity fund manager (“Crossplane,”
the “Firm,” the “Advisor,” “we,” “our,” or “us”), was formed in 2018 with its principal place of business in Dallas,
TX. We provide investment advisory services to pooled investment vehicles that are exempt from registration under
the Investment Company Act of 1940, as amended (the “Company Act”), and whose securities are not registered under
the Securities Act of 1933, as amended (the “Securities Act”) (such pooled investment vehicles, the “private funds”).
The Firm currently manages Crossplane Capital Fund, L.P. ( “Fund I”), Crossplane Capital Fund II, L.P. ( “Fund
II”) (Fund I and Fund II, each a “Fund”; collectively the “Funds”), Crossplane Capital Rentalco Co-Invest, L.P., a
related co-investment vehicle (“Rentalco Co-Invest”), and Crossplane Capital Rental Co-Invest II, L.P., a related co-
investment vehicle (“Rentalco II Co-Invest”) (Rentalco Co-Invest and Rentalco Co-Invest II together, the “co-
investment vehicles”). The Funds and the co-investment vehicles are each structured as a Delaware limited
partnership. The Firm expects to serve as investment advisor for other private funds and co-investment vehicles in the
future (the Funds, Rental Co-Invest, Rental Co-Invest II, each private fund and each co-investment vehicle, a “Client”,
or, collectively, the “Clients”). Our investment advice is provided to each Client taking into account the investment
objectives, strategies, guidelines, restrictions and limitations described in the applicable offering and/or Governing
Documents of such Client, and the information in this Brochure is qualified in its entirety by the information set forth
in such documents.
We do not act as general or limited partner of any Client. Instead, CPC Fund GP, LP, a Delaware limited partnership
and affiliate of Crossplane’s, serves as the general partner of Fund I, Rentalco Co-Invest, and Rentalco Co-Invest II.
CPC Fund II GP, LP, a Delaware limited partnership and affiliate of Crossplane’s, serves as the general partner of
Fund II (CPC Fund GP, LP and CPC Fund II GP, LP together, the “General Partners”). The General Partners rely on
our investment adviser registration instead of separately registering as investment adviser with the Securities and
Exchange Commission (the “SEC”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”).
See Item 10. Except as the context otherwise requires, any reference to “we,” “us,” or “our” in this document includes
Crossplane and any affiliates relying on our registration.
PRINCIPAL OWNERS
Brian F. Hegi and Benjamin D. Eakes are the managing partners (the “Partners”) and managing members of
Crossplane. Crossplane is controlled by its general partner, Crossplane Management GP, LLC, a Delaware limited
liability corporation owned and controlled by the Partners. The General Partners are controlled by their respective
general partners, CPCF GP, LLC and CPCF II GP, LLC, each of which is owned and controlled by the Partners.
TYPES OF ADVISORY SERVICES
We provide investment advisory services to our Clients, which generally make controlling equity investments in one
or more industrial business services, niche manufacturing or value-added distribution businesses. Even though
investment decisions with respect to our Clients are ultimately made by their respective general partners, we provide
investment advisory and supervisory services with respect to each Client in accordance with the investment objectives,
policies and guidelines set forth in such Client’s offering memorandum (if applicable), limited partnership agreement,
investment management agreement, subscription agreement, and/or other relevant agreements (“Governing
Documents”). As described in Item 10 below, the General Partners are subject to our supervision and control with
respect to any and all investment advisory functions provided thereby. In general, we only provide advice with respect
to investments (either directly or indirectly) in the securities of a limited number of private operating companies,
including underperforming companies, companies in out-of-favor industries and companies with incomplete
management teams. We do not provide advice with respect to any investments other than private equity investments.
Information about each Client is set forth in the applicable offering and/or Governing Documents. An investment in
a Crossplane Fund or co-investment vehicle does not and shall not create an advisory relationship between such
investor and us. The Firm does not have a separate client relationship with investors within the Funds or co-investment
vehicles, which are referred to throughout this manual as “Limited Partners” or “Investors”. See Item 8 below.
The co-investment vehicles were each established as a single purpose entity for a group of investors in Fund I to invest
on a side-by-side basis with Fund I in a specific portfolio company. Crossplane expects to establish other co-
investment vehicles as needed for future portfolio companies. Rentalco Co-Invest, Rentalco Co-Invest II, and any
future co-investment vehicles raised alongside Fund I or other Crossplane funds will generally buy and sell their
interests in an applicable portfolio company at the same time and on the same terms as the Funds, subject to differences
arising due to tax, regulatory or legal considerations. See Item 11 below.
INVESTMENT RESTRICTIONS
We provide investment advice to each Client in accordance with the investment objectives, policies and guidelines set
forth in the applicable offering and/or Governing Documents, and not in accordance with the individual needs or
objectives of any particular investor. Investors generally are not permitted to impose restrictions or limitations on the
management of a fund or co-investment. Notwithstanding the foregoing, the General Partner of each Client has entered
into side letter agreements or other arrangements with one or more investors in each entity that alter, modify or change
the terms of the interests held by such investors.
WRAP FEE PROGRAMS
We do not participate in wrap fee programs.
ASSETS UNDER MANAGEMENT
As of December 31, 2023, we had approximately $797 million in regulatory assets under management. All of these
assets were managed on a discretionary basis.