CAP91 Partners Management LLC

CAP91 Partners Management LLC acts as investment adviser exclusively to affiliated private funds and, as of December 31, 2025, managed roughly $530 million on a discretionary basis. It provides portfolio management for pooled, privately placed funds (CAP91 Partners Fund LP and CAP91 Partners Fund B LP) that make equity co-investments rather than offering individualized advisory relationships to retail clients.

The firm’s strategy is to co-invest alongside third‑party Sponsors in privately held, middle‑market companies, typically with enterprise values between $100 million and $2 billion, and to structure investments in accordance with each Fund’s governing documents. CAP91 conducts customary due diligence, prepares quarterly valuations approved by its managing partners, and operates its funds as closed‑end pooled vehicles with allocation and side‑letter practices governed by the partnership agreements.

CAP91’s brochure highlights several features that distinguish it from many peers, including disclosure of predecessor performance tied to the managing partners’ prior industry roles and a formal services agreement with an SEC‑registered M&A advisory firm that supports deal sourcing. The firm also operates a parallel Fund B with investors drawn largely from that advisory firm (and associated fee and special‑limited‑partner arrangements), and has documented instances — such as the Fund’s 2023 purchase of a co‑investment portfolio from a related family‑office relationship — that were reviewed by the Fund advisory board and disclosed to investors.