Item 5. Additional Compensation ............................................................................................... 47 Item 6. Supervision ..................................................................................................................... 47 Bluestone is a Delaware limited liability company that was formed in April 2022. The Firm’s sole indirect owner is Sharad “Bobby” Sharma (the “Principal”) who maintains his interest in Bluestone through Bluestone Equity Partners, LLC. The Firm provides investment advisory services to pooled investment vehicles (each a “Fund,” and collectively, the “Funds”). The Funds generally seek to rely on an exemption from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”) and their securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). Bluestone provides discretionary investment management services to the Funds in accordance with the applicable limited partnership agreement (or analogous organizational document), management agreement, subscription agreement, and side letters of each Fund (each, an “Advisory Agreement”). The Advisory Agreements of a Fund, along with any private placement memoranda and related materials are referred to herein collectively as the “Offering Documents” of such Fund. The Firm’s primary investment objective for each Fund is set forth in such Fund’s Offering Documents. In accordance with a Fund’s individual investment objectives, investments will primarily be made in privately held companies located in the United States as well as elsewhere (each such company is referred to herein as a “Portfolio Company,” and collectively, the “Portfolio Companies”). Generally, the Firm will seek to generate long-term capital gains, primarily by locating, investing in, managing, and disposing of investments in domestic and global sports, media, and entertainment Portfolio Companies with the highest potential for alpha on a global basis through privately negotiated transactions primarily involving equity and/or debt securities with equity-like features. Bluestone is affiliated with the entity that serves as general partner to Fund I

(defined below), and expects to be affiliated with other entities that serve as general partner (each a “General Partner,” and collectively, the “General Partners”) to each Fund. The General Partners will generally delegate day-to-day management responsibilities for the Funds to Bluestone or another Bluestone- affiliated entity (a “Management Company” and collectively the “Management Companies”), but will retain discretion over certain policy-making and oversight functions with respect to the investment program of the Fund and the decision whether to acquire or dispose of investments. The advisory services of Bluestone and of the General Partners are described in this Brochure and in the Advisory Agreements applicable to a Fund, but generally consist of: investigating, identifying, and evaluating investment opportunities; structuring, negotiating, and making investments on behalf of the Funds; managing and monitoring the performance of such investments; and disposing of such investments. The information set forth herein regarding the investment advisory services provided by Bluestone shall also apply in respect of the General Partners and Management Companies unless specifically noted. Bluestone provides investment advice directly to the Funds, subject to the discretion and control of the applicable General Partner, and not individually to the investors in the Funds. Such investors accept the terms of advisory services as set forth in the Funds’ Advisory Agreements. The Firm expects to have broad investment authority with respect to the Funds and, as such, investors should consider whether the investment objectives of the Funds are in line with their individual objectives and risk tolerance prior to investing. Bluestone currently manages one (1) fund, Bluestone Capital I, L.P. (“Fund I”). The General Partner of Fund I is a Delaware limited partnership that is affiliated with Bluestone. The General Partner has the power and authority to delegate management of Fund I to Bluestone. Item 10: Other Financial Industry Activities and Affiliations depicts the entity that serves as General Partner to Fund I. As of December 31, 2023, Bluestone manages $300,650,000 of regulatory assets under management (which includes uncalled capital commitments) on a discretionary basis. Bluestone does not manage client assets on a non-discretionary basis. Bluestone does not participate in any wrap fee programs.