9AT: ESTUARY CAPITAL MANAGEMENT LP

other names

ESTUARY CAPITAL MANAGEMENT LP

Adviser Profile

As of Date	03/24/2026
Registration	SEC, Approved, 12/15/2022
Other registrations (1)	SEC, 120-Day Approval, 12/15/2022
ADV Location	WAYZATA, MN, United States
Contact Info	612 xxxxxxx
Websites

AUM^*	853,863,466 104%
of that, discretionary	853,863,466 104%
Private Fund GAV^*	853,863,466 -1%
Avg Account Size	284,621,155 104%
SMA’s	No
Private Funds	3

Adviser Type

- Large advisory firm

Number of Employees 13 -19%

of those in investment advisory functions 13 18%

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

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

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$853,863,466

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 SCION ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM154.9m	#Funds-
Adviser BLUE SQUARE ASSET MANAGEMENT, LLC	Hedge Fund18.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV18.6m	AUM410.3m	#Funds1
Adviser LOKKEN INVESTMENT GROUP, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM366.5m	#Funds-
Adviser SHADOWFALL CAPITAL & RESEARCH LLP	Hedge Fund74.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV74.8m	AUM188.0m	#Funds1
Adviser VERGENT ASSET MANAGEMENT	Hedge Fund55.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV55.6m	AUM1.2b	#Funds2
Adviser OPUS INVESTMENT MANAGEMENT LLC	Hedge Fund308.8m	Liquidity Fund-	Private Equity Fund23.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV331.9m	AUM331.9m	#Funds23
Adviser ODIN CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM249.9m	#Funds-
Adviser TROLUCE CAPITAL ADVISORS LLC	Hedge Fund2.0b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.0b	AUM2.2b	#Funds8
Adviser BRB FINANZ USA	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM261.0m	#Funds-
Adviser MONTROSE ADVISORS INC	Hedge Fund24.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV24.5m	AUM670.8m	#Funds1

Brochure Summary

Overview

Estuary Capital Management, LP (hereinafter “Estuary”, “we”, “us”, “our”, “Investment Manager” or the “Firm”) is organized as a Delaware limited partnership with its principal place of business in Wayzata, Minnesota. Estuary commenced operations as an investment adviser in January 2023. We are an affiliate of the following entity: Estuary Capital Partners, LLC (the “General Partner”), the general partner of the Master Fund and the Onshore Fund (each as defined below). Andrew Warford, the Founder and Managing Partner of the Firm, is the majority beneficial owner of the Firm and directs the investment activities and operations of the Funds (as defined below) through the Firm. Estuary provides discretionary investment management services to the following private funds: Estuary Master Fund, LP (the “Master Fund”), Estuary Partners Fund, LP (the “Onshore Fund”), and Estuary Offshore Fund, Ltd. (the “Offshore Fund”) The Master Fund, the Onshore Fund, and the Offshore Fund are herein

each referred to as a “Fund” or “Client”, and collectively referred to as the “Funds” or the “Clients”. The Onshore Fund’s “Limited Partners” and the Offshore Fund’s “Shareholders” are hereafter collectively referred to as the “Investors” where appropriate. We serve as the investment adviser, with discretionary trading authority, to the Funds, which are private, pooled investment vehicles, the securities of which are offered through a confidential offering memoranda to U.S. persons who are “accredited investors”, as defined under the Securities Act of 1933, as amended, and qualified purchasers, as defined under the Investment Company Act of 1940, as amended and, qualified non-U.S. persons. Our investment decisions and advice with respect to the Funds are subject to each Fund’s investment objectives and guidelines, as set forth in its respective “Offering Documents.” As of December 31, 2023, we had regulatory assets under management of $572.9 million managed on a discretionary basis.

ESTUARY CAPITAL MANAGEMENT LP

Adviser Profile

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Overview