9AT: FLOWSTONE PARTNERS, LLC

FLOWSTONE PARTNERS, LLC

other names

FLOWSTONE PARTNERS, LLC

Adviser Profile

As of Date	02/26/2026
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	7
of those in investment advisory functions	5
Registration	SEC, Approved, 05/03/2019

AUM^*	767,354,456 8%
of that, discretionary	767,354,456 8%
Private Fund GAV^*	0
Avg Account Size	767,354,456 8%
SMA’s	No
Private Funds	0
Contact Info	312 xxxxxxx
Websites

Client Types

- Investment companies

Advisory Activities

- Portfolio management for investment companies

Compensation Arrangments

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

Reported AUM

523M 448M 374M 299M 224M 149M 75M

2019 2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Description of Firm FlowStone Partners, LLC (“FlowStone”, the “Adviser”, “we”, “us”, or “our”) is a registered investment adviser primarily based in Avon, CT. It is organized as a limited liability company (“LLC”) under the laws of the State of Delaware and has been providing investment advisory services since July 31, 2019. FlowStone is primarily owned by FlowStone Investors, LLC. FlowStone Partners, LLC is indirectly owned by Cresset Manager, LLC. FlowStone provides investment advice to two pooled investment vehicles: 1. A closed-end registered investment company (the “Registered Fund”): FlowStone Opportunity Fund, a Delaware statutory trust that is registered under the U.S. Investment Company Act of 1940, as amended, as a non-diversified, closed- end management investment company, and; 2. A privately offered fund (the “Offshore Fund”): FlowStone Opportunity Offshore Fund (Lux) SCSp, a Luxembourg special limited partnership (société en commandite spéciale). The Offshore Fund was formed to invest substantially all of its assets in the FlowStone Opportunity Fund: that is, the Offshore Fund was created for offshore investors who elect to invest in the FlowStone Opportunity Fund through an offshore feeder vehicle. (Further detail about FlowStone Partners, LLC’s relationship with the FlowStone Opportunity Fund and the Offshore Fund is available in those funds’ respective offering documents.) Together, the Registered Fund and the Offshore Fund are known as FlowStone’s “Clients” or the “Funds”. It is important to

note that the underlying investors or shareholders in the Funds are not clients of FlowStone and such underlying investors do not have discretion or input as to the selection of holdings in the Funds, nor the timing of any purchases or sales in the Funds. Assets Under Management As of December 31, 2023, we provide continuous management services for $710,500,000 in client assets on a discretionary basis. Portfolio Management Services FlowStone tailors its advisory services to the specific investment objectives and restrictions as determined by its Clients. FlowStone manages each Client in accordance with the relevant limited partnership agreement, investment advisory agreement, offering memorandum, prospectus or other applicable governing document (collectively, “Offering Documents”), where applicable. FlowStone does not tailor its investment advisory services to meet the individual needs of an underlying investor or shareholders in the Funds because the Funds will have distinct investment guidelines and requirements that FlowStone must follow per applicable Offering Documents. Types of Investments We currently provide investment advice to only the Registered Fund and Offshore Fund. Such advice primarily consists of the selection of private equity investments. We do not provide tailored advice to underlying investors or shareholders in our Funds. We currently do not provide advice with respect to brokered securities. We manage the Funds in accordance with their respective Offering Documents.