9AT: TREO ASSET MANAGEMENT, LLC

other names

TREO ASSET MANAGEMENT, LLC
BRG ASSET MANAGEMENT, LLC
CAPSTONE VALUATION SERVICES, LLC
CAPSTONE MANAGEMENT SERVICES LLC
CAPSTONE CAPITAL MARKETS ADVISORS, LLC
CAPSTONE ADVISORY GROUP, LLC
BRG FUND MANAGEMENT SERVICES, LLC
BRG CAPSTONE FUND MANAGEMENT SERVICES

Adviser Profile

As of Date	03/31/2026
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	18 29%
of those in investment advisory functions	14 8%
Registration	SEC, Approved, 08/04/2022
Other registrations (1)	SEC, ERA - Withdrawn, 07/06/2022
Former registrations	BRG ASSET MANAGEMENT, LLC

AUM^*	864,659,349 1%
of that, discretionary	864,659,349 1%
Private Fund GAV^*	912,365,527 23%
Avg Account Size	144,109,892 118%
SMA’s	No
Private Funds	9 4
Contact Info	212 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)

Fund Type	Count	GAV
Fund TypeHedge Fund	Count1	GAV$47,706,178
Fund TypePrivate Equity Fund	Count8	GAV$864,659,349

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser BIENVILLE CAPITAL MANAGEMENT, LLC	Hedge Fund356.0m	Liquidity Fund-	Private Equity Fund550.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund339.1m	Other Fund-	Total Private Fund GAV1.6b	AUM4.5b	#Funds19
Adviser LEAD EDGE CAPITAL MANAGEMENT, LLC	Hedge Fund280.5m	Liquidity Fund-	Private Equity Fund6.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund24.4m	Other Fund-	Total Private Fund GAV6.8b	AUM6.8b	#Funds21
Adviser WESTBRIDGE CAPITAL US ADVISORS, LP	Hedge Fund7.3b	Liquidity Fund-	Private Equity Fund9.9b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund50.4m	Other Fund-	Total Private Fund GAV17.3b	AUM7.9b	#Funds9
Adviser COATUE MANAGEMENT, L.L.C.	Hedge Fund77.2b	Liquidity Fund-	Private Equity Fund48.0b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund3.5b	Other Fund-	Total Private Fund GAV132.1b	AUM92.7b	#Funds172
Adviser ENGAGED CAPITAL	Hedge Fund362.5m	Liquidity Fund-	Private Equity Fund111.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV473.5m	AUM432.3m	#Funds15
Adviser PINEGROVE OPPORTUNITY PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund2.8b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.8b	AUM2.9b	#Funds6
Adviser HEADLANDS CAPITAL	Hedge Fund118.6m	Liquidity Fund-	Private Equity Fund830.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV949.4m	AUM949.4m	#Funds15
Adviser VELT PARTNERS INVESTIMENTOS LTDA.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.2b	#Funds-
Adviser IBEX INVESTORS LLC	Hedge Fund548.3m	Liquidity Fund-	Private Equity Fund563.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund10.4m	Total Private Fund GAV1.1b	AUM1.2b	#Funds37
Adviser SACHEM HILL LLC	Hedge Fund150.7m	Liquidity Fund-	Private Equity Fund79.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV230.1m	AUM1.2b	#Funds7

Brochure Summary

Overview

Treo Asset Management LLC (“Treo” or the “Firm”), located in New York, NY, commenced operations in April 2012 and is solely owned by Treo Capital Advisors LLC. Mr. Finbarr O’Connor is the sole beneficial owner of Treo Capital Advisors LLC. Advisory Services Treo provides investment advisory services on a discretionary basis to pooled investment vehicles (each a “Fund” and together, the “Funds”), generally due to the Firm being engaged to act as replacement manager or successor general partner (“GP”). Treo serves as the GP to privately offered pooled investment vehicles. In the future, the Firm may advise additional funds and together with the Funds are herein referred to as the Firm’s clients (the “Clients”). The Firm specializes in the management of challenged or tail-end investments by seeking to optimize asset value

and deliver timely financial recovery for investors. Treo addresses structural problems that arise in tail-end funds or uncertain investment situations that inhibit the timely and efficient return of investor capital, such as limited operating capacity and focus, lack of specialized expertise to deal with highly illiquid or distressed fund assets, and key person events. The investment objective and strategy for the Funds are fully described in the respective offering documents. Treo provides investment management services to the Funds and does not tailor advice to the individual underlying Fund investors (the “Investors”). The total amount of assets managed on a discretionary basis currently is approximately $857,400,000. The Firm does not manage any assets on a non-discretionary basis.

TREO ASSET MANAGEMENT, LLC

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