Walk-On Capital, LLC

Walk-On Capital provides discretionary investment management to pooled, Delaware-structured private funds offered to qualified and institutional investors, including high-net-worth individuals, pension plans, trusts and endowments. The firm manages two affiliated limited partnership funds and focuses on privately originated investments in industrials, business services and healthcare services.

The firm targets fragmented industries with opportunities for capital deployment and pursues long-term capital appreciation through private equity-style investments, employing an Investment Committee review and reserving capital for follow-on financings. Walk-On may offer co-investment allocations and executes side letters with certain investors; it also discloses the use of artificial intelligence technologies to support diligence and acknowledges the operational and regulatory risks associated with that use.

Distinctive features include its recent formation and its AUM scale that is small relative to many institutional managers, its affiliation with the funds’ general partner (with carried interest accruing to principals), and comprehensive fund expense provisions and side‑letter practices that can create bespoke economic or governance terms for some investors. The funds’ governing documents permit broad reimbursement of operational and transaction-related costs (including certain travel and organizational expenses), and Walk-On is deemed to have custody of fund assets and arranges annual independent audits.