Cannae Portfolio Advisors, LLC

Cannae Portfolio Advisors is an SEC-registered investment adviser that provides discretionary management solely to a pooled private investment vehicle, the Cannae Fund, and does not provide individual advisory services to the fund’s limited partners. The brochure states the Adviser was formed in 2020, operates together with an affiliated General Partner under common control, and reported regulatory assets under management of approximately $859 million as of December 31, 2025.

The firm describes a process-driven investment program focused on fixed income credit markets, using fundamental credit analysis informed by historical prices and other data, alongside optimization, execution and risk-management techniques. The brochure emphasizes reliance on proprietary and third-party models, data feeds and technology (and the attendant coding, data and systems risks), and notes that the Fund’s compensation includes both percentage-of-AUM and performance-based allocations as set forth in the Fund’s governing documents (Items 5–6 and 8).

Compared with many peers, the firm discloses marketing practices that include the use of predecessor performance information and compensated referral/endorsement arrangements, and it references the SEC marketing rule and related disclosure and recordkeeping requirements in its brochure (Item 14). The brochure also notes features that can affect investors differently than in typical advisor-client relationships, such as the potential for side letters that establish preferential rights for certain investors and the Adviser’s role as part of a single advisory business with an affiliated General Partner (Items 4 and 14).