Sightline Partners LLC

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Total assets under management

$567,080,987

Total clients

Total advisors

of 7 employees

Firm size

Investment Manager

May not manage individual clients

Average clients per advisor

—

Average account size

—

About

SightLine Partners LLC is a private equity investment manager that provides discretionary investment advisory services exclusively to pooled private funds and affiliated secondary vehicles, managing approximately $567 million across its fund and related-adviser structures. Its investors are institutional or high‑net‑worth entities (accredited investors, qualified clients or qualified purchasers) rather than individual retail clients.

The firm concentrates on secondary and special‑situation investments in later‑stage, typically revenue‑generating medical‑technology companies, pursuing transactions where sellers are motivated and where SightLine can supply strategic, operating and follow‑on capital support. Several funds managed or advised by the firm and its related adviser (10K Lakes Capital, LLC) have acquired pre‑identified portfolios and the firm generally operates with broad discretionary authority under each Fund Agreement using various secondary structures.

Notable features include a formal related‑adviser arrangement (10K Lakes Capital) that has launched a series of 10K Lakes secondary funds through May 2025, and the use of side letters, SPV co‑investments and allocation mechanisms that can grant certain investors advisory‑board, transparency or co‑investment rights not available to all investors. SightLine also frequently takes board roles in portfolio companies, holds privately issued stock certificates subject to annual audits to address custody requirements, and discloses potential conflicts (fee offsets, carried interest and allocation practices) along with procedures to manage them.

Client services

Portfolio management

Expertise

Private / alternative investments

Fee options

Percentage

N/A+: Up to 2.00% per annum of total capital commitments (Side-by-Side Funds in OppFund II, formation to June 30, 2016) N/A+: 0.4375% per quarter (equivalent annualized approx. 1.75%) multiplied by adjusted capital base (Side-by-Side Funds in OppFund II, after June 30, 2016) N/A+: 1.5% of aggregate capital commitments (10K Fund I for 2020 and 2021) N/A+: 1.25% of aggregate capital commitments (10K Fund I for 2022) N/A+: 1.0% of aggregate capital commitments (10K Fund I for 2023) N/A+: 0.5% of aggregate capital commitments (10K Fund I for 2024) N/A+: 25% of 0.5% of net asset value for next 8 quarters starting year 5 (10K Fund I after 2024) N/A+: 1.45% of aggregate capital commitments (10K Fund II Nov 2021 - Oct 2023) N/A+: 1.25% of aggregate capital commitments (10K Fund II Nov 2023 - Oct 2024) N/A+: 1.0% of aggregate capital commitments (10K Fund II Nov 2024 - Oct 2025) N/A+: 0.75% of aggregate capital commitments (10K Fund II Nov 2025 - Oct 2026) N/A+: Annual amount approved by majority-in-interest of Limited Partners (10K Fund II from Nov 2026 onward) N/A+: 1.00% of aggregate capital commitments (10K Fund III Feb 29, 2024 - Feb 28, 2029) N/A+: 0.50% of aggregate capital commitments (10K Fund III Mar 1, 2029 onward) N/A+: 1.00% of aggregate capital commitments (10K Fund IV Oct 15, 2024 - Oct 15, 2029) N/A+: 0.50% of aggregate capital commitments (10K Fund IV Oct 16, 2029 onward) N/A+: 1.00% of aggregate capital commitments (10K Fund V May 29, 2025 - May 29, 2030) N/A+: 0.50% of aggregate capital commitments (10K Fund V May 31, 2030 onward)

Performance-based

20% carried interest of net profits generally after return of capital and preferred return

Main office location

Sightline Partners LLC

7801 E. Bush Lake Road, Suite 210

Bloomington MN 55439, United States

Number of offices

Most active in

Minnesota

Disclosures

Business activities & affiliations

Is active or affiliated with:

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Is not active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

Website 952-641-0300

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