9AT: RECURRING CAPITAL MANAGEMENT COMPANY, LLC

other names

RECURRING CAPITAL MANAGEMENT COMPANY, LLC
RECURRING CAPITAL PARTNERS

Adviser Profile

As of Date	03/25/2026
Registration	SEC, Approved, 08/01/2023
Other registrations (4)	SEC, ERA - Withdrawn, 06/30/2023 Texas, ERA - Withdrawn, 06/30/2023 SEC, ERA - Active, 03/25/2018 Texas, ERA - Active, 09/29/2016
Former registrations	RECURRING CAPITAL MANAGEMENT COMPANY, LLC
ADV Location	AUSTIN, TX, United States
Contact Info	512 xxxxxxx
Websites

AUM^*	250,439,072 29%
of that, discretionary	250,439,072 29%
Number of Employees	6 -14%
of those in investment advisory functions	6 -14%
Private Fund GAV^*	478,207,806 147%
Avg Account Size	27,826,564 44%
SMA’s	No
Private Funds	12

Adviser Type

- Large advisory firm

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

Accounting Firm Name	Filing Date	Form ADV-E
Accounting Firm Name FRAZIER & DEETER, LLC	Filing Date01/28/2026	Form ADV-E View Report
Accounting Firm Name FRAZIER & DEETER, LLC	Filing Date04/29/2025	Form ADV-E View Report
Accounting Firm Name FRAZIER & DEETER, LLC	Filing Date01/27/2024	Form ADV-E View Report

SEC Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count12	GAV$478,207,806

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 BRICKELL KEY ASSET MANAGEMENT LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund119.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV119.9m	AUM119.9m	#Funds1
Adviser ARCADIUS CAPITAL PARTNERS INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund91.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV91.3m	AUM106.2m	#Funds1
Adviser ELEVAGE PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM154.6m	#Funds3
Adviser FS TACTICAL ADVISOR, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund294.2m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV294.2m	AUM278.8m	#Funds2
Adviser SCALEWORKS CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund105.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV105.5m	AUM198.4m	#Funds6
Adviser MAVEN ROYALTY MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund241.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV241.4m	AUM241.4m	#Funds2
Adviser SUMMIT HOUSE CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund191.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV191.8m	AUM518.7m	#Funds5
Adviser CITY DIFFERENT INVESTMENTS	Hedge Fund-	Liquidity Fund-	Private Equity Fund24.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund16.6m	Total Private Fund GAV41.3m	AUM244.4m	#Funds7
Adviser MGM INNOVA CAP MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund78.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV78.9m	AUM78.0m	#Funds4
Adviser GREY ROCK MANAGEMENT PARTNERS IV, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund856.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV856.7m	AUM856.7m	#Funds11

Brochure Summary

Overview

Recurring Capital Management Company, LLC (“Recurring Capital” or the “Firm”), a Delaware limited liability company, is an investment management company located in Austin, Texas. Recurring Capital provides investment advisory services to investment funds privately offered to qualified purchasers and accredited investors. The Firm commenced operations in September 2016. Recurring Capital was founded and is owned by Brian Henley. Recurring Capital provides portfolio management and investment advisory services to private pooled investment vehicles (“Funds” or “Clients”). Recurring Capital engages in advisory services with Funds that rely on exemption from registration with the SEC under Section 3(c)1 and Section 3(c)7 of the Investment Company Act of 1940, as amended (“Investment Company Act”). Funds relying on the Section 3(c)7 exemption are offered exclusively to qualified purchasers that meet the investment criteria outlined in Section 3(c)7 of the Investment Company Act. Funds relying on Section 3(c)1 exemption are offered to accredited investors under the criteria defined in the Investment Company Act. Recurring Capital’s investment advisory services include identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and selling portfolio investments. The Firm specializes in debt financing for Software as a Service (“SaaS”) and other recurring revenue model technology-driven

companies. Recurring Capital manages each of its Funds within the guidelines and restrictions set forth, as applicable, in each Fund’s private placement memorandum, limited partnership agreement (or limited liability company or other applicable governing agreement), subscription agreements, management services and advisory agreements, side letter agreements and other governing documents of the relevant Fund (collectively, as amended, “Governing Documents”) and within regulatory guidelines and limitations. See Item 8 for additional information regarding the Firm’s investment strategies and risks. Each of the Funds are controlled by a general partner (“General Partner”) or managing member or similar governing entity as provided in the Governing Documents. Each Fund’s General Partner has appointed Recurring Capital (or an affiliate thereof) to serve as the Fund’s investment manager, pursuant to a written agreement. The General Partner in its discretion may offer co-investment opportunities to one or more Funds or their affiliates, and to other funds, private investors, groups, entities, or individuals. Co-investors will be determined by the General Partner in its sole discretion, and co-investment opportunities will be offered on a deal-by-deal basis. Recurring Capital does not participate in any wrap fee programs. Recurring Capital managed $218,134,733 in Client assets (“AUM”), all on a discretionary basis, as of December 31, 2023.

RECURRING CAPITAL MANAGEMENT COMPANY, LLC

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