9AT: 3B CAPITAL MANAGEMENT, LP

other names

3B CAPITAL MANAGEMENT, LP

Adviser Profile

As of Date	03/26/2025
ADV Location	DALLAS, TX, United States
Adviser Type - Large advisory firm
Number of Employees	2
of those in investment advisory functions	2
Registration	SEC, Approved, 07/30/2021
Other registrations (2)	SEC, ERA - Withdrawn, 06/29/2021 Texas, ERA - Withdrawn, 06/29/2021
Former registrations	3B CAPITAL MANAGEMENT, LP

AUM^*	236,086,776 6%
of that, discretionary	236,086,776 15%
Private Fund GAV^*	236,086,776
Avg Account Size	78,695,592 15%
SMA’s	No
Private Funds	4 1
Contact Info	214 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$236,086,776

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser PORTLAND HILL ASSET MANAGEMENT LIMITED	Hedge Fund136.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV136.9m	AUM151.6m	#Funds4
Adviser TERRA PARTNERS ASSET MANAGEMENT	Hedge Fund218.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV218.4m	AUM218.4m	#Funds3
Adviser URSA FUND MANAGEMENT LLC	Hedge Fund606.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV606.7m	AUM633.6m	#Funds1
Adviser BRIZO CAPITAL, LP	Hedge Fund136.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV136.1m	AUM240.6m	#Funds1
Adviser CANNON GLOBAL INVESTMENT MANAGEMENT, LLC	Hedge Fund105.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV105.5m	AUM105.5m	#Funds2
Adviser QUANTITATIVE VALUE TECHNOLOGIES	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM172.6m	#Funds-
Adviser BUCKEYE-PACIFIC	Hedge Fund251.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV251.1m	AUM295.5m	#Funds4
Adviser BARCA CAPITAL, LLC	Hedge Fund301.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV301.3m	AUM324.5m	#Funds2
Adviser SMP ASSET MANAGEMENT, LLC	Hedge Fund216.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV216.6m	AUM280.4m	#Funds1
Adviser WINDSAIL CAPITAL GROUP, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM196.3m	#Funds-

Brochure Summary

Overview

3B is an investment adviser organized as a limited partnership under the laws of the State of Texas with its principal place of business in Dallas, Texas. 3B was founded in September 2018 by Carl Baggett, the Firm’s managing partner and Thomas Bonn (the “Principals”). 3B serves as an investment manager and provides advisory services on a discretionary basis to privately offered pooled investment vehicles including the Base Rate Fund QP, L.P., Base Rate Fund, L.P., and Base Rate OE Fund, L.P. (each a “Fund” and Collectively, the “Funds”). The Funds are also referred to as the “Client” or “Clients”. 3B Management GP, LLC serves as the general partner to the Firm and is also controlled by the Principals. Generally, 3B will employ both a long/short volatility arbitrage investment strategy designed to profit from certain relationships in options and an evidence based opportunistic exposure to equities when appropriate. 3B’s dynamic process includes both quantitative and qualitative evidence coupled with judgment. Instruments invested will include but are not limited to equities, exchange traded funds, cash options on indexes and/or

individual securities, futures, agency/government and corporate debt. The Firm’s advisory services are provided to the Funds pursuant to the terms of the Funds’ private placement memoranda, limited partnership agreements, and/or investment management agreements (collectively, the “Governing Documents”) and based on the specific investment objectives and strategies as disclosed therein. The Funds will under certain circumstances impose restrictions on investing in certain types of securities in accordance with each Governing Document. 3B provides advisory services to the Funds, rather than to any individual investor in the private funds. Therefore, it should be noted that the Firm does not tailor its investment advice to take into account any specific investment conditions of any individual investor in a private fund. 3B does not participate in, nor does it sponsor, wrap fee programs. As of December 31, 2023, 3B managed approximately $222,319,531 in assets under management; $222,319,531 on a discretionary basis; and $0 on a non-discretionary basis. See Item 8 of this brochure for a more detailed discussion of 3B’s investment strategies.

3B CAPITAL MANAGEMENT, LP

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Brochure Summary

Overview