Cypress Creek Partners2 (the “Adviser”) is an SEC-registered investment adviser with its principal place of business located in Texas. The Adviser began conducting business in 2004. On March 1, 2021, CCP Operating, LLC, purchased The Endowment Fund Management, LLC (along with its affiliates, Endowment Advisers, L.P., and The Endowment Fund G.P., L.P.), from Salient Partners, L.P. CCP Operating, LLC, owns 100% of the Adviser. The Endowment Fund Management LLC serves as general partner of the Adviser and is also wholly- owned by CCP Operating, LLC. The Adviser has named an Investment Committee which oversees its operations and investment advisory services. The Investment Committee is comprised of certain of the Adviser’s senior investment professionals. The Adviser provides investment advisory services to private funds and registered investment companies (individually, a “Fund” or “Investment Fund,” and collectively, the “Funds”). Certain private funds and registered investment companies the Adviser provides investment advisory services to comprise the Cypress Creek Private Strategies Fund Complex (the “CCPS Complex”) and The Endowment PMF Fund Complex (the “PMF Complex”), as discussed further below. The Adviser also provides investment advisory services to private funds outside of the CCPS Complex and the PMF Complex. The following entities, each of which are affiliates of the Adviser, serve as general partner to one or more private funds and/or registered investment companies in which the Adviser provides investment advisory services (collectively, the “General Partners”):
• CCP Coastal Redwood GP, LLC
• CCP Dawn Redwood GP, LLC
• CCP Sierra Redwood GP, LLC
• CCP SPV I GP, LLC
• The Endowment Fund GP, LP
• The Endowment Fund Offshore GP, LLC The Endowment Fund Management, LLC, serves as the general partner to each of the General Partners. Each of the General Partners are, directly or indirectly, owned by CCP Operating, LLC. Unless otherwise indicated, going forward, investors in the private funds and registered investment companies managed by the Adviser are collectively referred to herein as “Investors.” The Adviser does not tailor its advisory services to the individual needs of Investors in the CCPS Feeders and PMF Feeders (as defined below). Certain private funds (as defined below) managed by the Adviser are done so on a non-discretionary basis and with significant input from their respective investors. The Adviser may enter into arrangements or agreements with certain Investors in private funds (“Side Letters”) granting them additional and/or different rights or terms than those set forth in the offering documents of the Funds. Such rights may include, without limitation, greater portfolio transparency or preferential fee terms, including limits on aggregate fees charged. The Adviser is generally not obligated to disclose Side Letter terms to other Investors or obtain their approval before entering into any Side Letter. However, the Adviser will not enter into a Side Letter if it determines that the Side Letter would have a material adverse effect on the other Investors in the relevant Fund. The Adviser has entered into Side Letters with Investors which impose restrictions on investing in certain securities or types of securities. In the future, the Adviser may enter into additional such Side Letters. CCPS Complex The CCPS Complex, which is organized in a “master-feeder” structure, is comprised of Cypress Creek Private Strategies Master Fund, L.P. (the “CCPS Master Fund”), and its feeder funds (collectively, the “CCPS Feeders”), which include the following:
• CCPS Registered Feeders o Cypress Creek Private Strategies Registered Fund, L.P. o Cypress Creek Private Strategies TEI Fund, L.P. 2Endowment Advisers, L.P., d/b/a Cypress Creek Partners o Cypress Creek Private Strategies Institutional Fund, L.P.
• CCPS Private Feeders o Cypress Creek Private Strategies Domestic Fund, L.P. o Cypress Creek Private Strategies International Fund, Ltd. (Final dissolution expected in 2024) o Cypress Creek Private Strategies Onshore Fund, L.P. o Cypress Creek Private Strategies Offshore Fund, L.P. The CCPS Master Fund and CCPS Registered Feeders are non-diversified, closed-end management investment companies registered under the Investment Company Act of 1940 (the “IC Act”). The CCPS Private Feeders are not registered under the IC Act in reliance upon the exemptions from such registration requirements contained in Section 3(c)(1) or 3(c)(7) of the IC Act, or, in the case of Cypress Creek Private Strategies Offshore Fund, L.P., in reliance on the fact that it is domiciled outside of the U.S. The CCPS Feeders invest substantially all of their investable assets into the CCPS Master Fund. The Cypress Creek Private Strategies TEI Fund, L.P., invests

substantially all of its investable assets in the Cypress Creek Private Strategies Offshore TEI Fund, Ltd. (a Cayman Islands exempted company), which serves as a tax-blocking entity for the Cypress Creek Private Strategies TEI Fund, L.P., and which then invests substantially all of its investable assets in the CCPS Master Fund. The Cypress Creek Private Strategies Offshore Fund, L.P., invests substantially all of its investable assets in the Cypress Creek Private Strategies Offshore Blocker Fund, LLC (a Cayman Islands exempted company), which serves as a tax-blocking entity for the Cypress Creek Private Strategies Offshore Fund, L.P., and which then invests substantially all of its investable assets in the CCPS Master Fund. No Investors invest directly in Cypress Creek Private Strategies Offshore TEI Fund Ltd. or Cypress Creek Private Strategies Offshore Blocker Fund, LLC. The Adviser also provides investor servicing to the CCPS Feeders. The investment advisory services provided to the CCPS Complex are governed by separate investment management agreements between the Adviser and each of the CCPS Feeders, including an agreement between the Adviser and the CCPS Master Fund. In addition, investor servicing agreements are in place between the Adviser and each the CCPS Feeders. With respect to the CCPS Complex, the CCPS Master Fund’s investment objective is to preserve capital and to generate consistent long-term appreciation and returns across a market cycle (which is estimated by the Adviser to be five to seven years). The CCPS Feeders achieve this similar investment objective by investing substantially all their investable assets in the CCPS Master Fund. The CCPS Master Fund attempts to achieve its investment objective through investments primarily in private assets globally and through access to high quality private markets asset classes and investments, portfolio construction, and liquidity management. The Fund generally pursues the investment objective by allocating assets to primary and secondary subscriptions or commitments to private partnerships managed by investment managers as well as direct platforms. PMF Complex The PMF Complex, which is organized in a “master-feeder” structure, is comprised of The Endowment PMF Master Fund, L.P. (“PMF Master Fund”), and its feeder funds, which include PMF Fund, L.P. and PMF TEI Fund, L.P. (collectively, the “PMF Feeders”). The PMF Master Fund and PMF Feeders are non-diversified, closed-end management investment companies registered under the IC Act. The PMF Feeders invest substantially all of their investable assets into the PMF Master Fund. The PMF TEI Fund, L.P., invests substantially all of its investable assets in the PMF TEI (Offshore) Fund, Ltd. (a Cayman Islands exempted company), which serves as a tax-blocking entity for the PMF TEI Fund, L.P., and which then invests substantially all of its investable assets in the PMF Master Fund. No Investors invest directly in the PMF TEI (Offshore) Fund Ltd. The Adviser also provides investor servicing to the PMF Feeders. The investment advisory services provided to the PMF Complex are governed by separate investment management agreements entered into by the Adviser and the PMF Feeders, including an agreement between the Adviser and PMF Master Fund. In addition, investor servicing agreements are in place between the Adviser and each of the PMF Feeders. With respect to the PMF Complex, the PMF Master Fund’s investment objective is to manage a portfolio of investment funds and cash to preserve value while prioritizing liquidity to Investors over active management, until such time as the PMF Master Fund’s portfolio has been liquidated. The PMF Feeders achieve this similar investment objective by investing substantially all their investable assets in the PMF Master Fund. Private Funds The Adviser manages the following private funds, which are not registered under the IC Act in reliance upon the exemptions from such registration requirements contained in Section 3(c)(1) or 3(c)(7) of the IC Act (collectively, the “Private Funds”):
• CCP Coastal Redwood Fund, L.P.;
• CCP Dawn Redwood Fund, L.P.;
• CCP GP Fund LLC;
• CCP Sierra Redwood Fund, L.P.;
• CCP Trinity Aquifer Fund, LLC – Nickel I;
• CCP Trinity Aquifer Fund, LLC – Hive I; and
• Marinas I SPV, LLC. The investment objective of each of the Private Funds varies and is based on their respective offering documents. Under certain circumstances, the Adviser may contract with a client to adhere to limited risk and/or operating guidelines imposed by the client. The Adviser negotiates such arrangements on a case-by-case basis. Regulatory Assets Under Management As of December 31, 2023, the Adviser managed $457,220,060 of clients’ assets on a discretionary basis. As of December 31, 2023, the Adviser managed $67,736,186 of clients’ assets on a non-discretionary basis.