Lee Equity Partners, LLC (“Lee Equity,” “Firm,” “us,” “we,” and “our”), a Delaware limited liability company, is an investment adviser located in New York, New York. We provide discretionary investment advice to certain private equity investment funds (the “Funds” or our “Clients”) that primarily make investments in private equity, equity-related, and other securities in accordance with the investment guidelines established for such Funds. Typically, we seek to invest in businesses which we believe have strong and sustainable competitive positions, sufficient scale to attract high quality professional management and the ability to demonstrate continued growth. We are a generalist firm with investment professionals who have significant expertise in a number of industries, including financial, healthcare and business services, retail and consumer products and media. Lee Equity was formed in 2006 by Thomas H. Lee, who passed away on February 23, 2023. The Firm is currently led by Christian E. Chauvet, Mark K. Gormley, Benjamin A. Hochberg, Yoo Jin Kim, Mark A. Mauceri, Daniel J. Rodriguez, Joseph B. Rotberg, Sally Vogelhut, and Collins P. Ward (our “Partners”). Certain affiliates of Lee Equity serve as general partner of the Funds (each a “General Partner” and collectively, the “General Partners”). Persons that invest in the Funds are referred to in this Brochure as “investors” or “limited partners.” We provide discretionary investment management services to the Funds and not individually to the investors in such Funds. Lee Equity generally provides investment advisory services to each Fund pursuant to an investment management agreement (each, an “Investment Management Agreement”). Investment advice is provided by Lee Equity directly to the Funds, subject to the direction and control of the General Partner of each such Fund. Our Funds include those established primarily for limited partners not affiliated with Lee Equity, as well as those established to allow members, partners, employees of Lee Equity and certain other individuals to invest in (the “Affiliated Funds” which are included in the definition of “Funds” in this document). Affiliated Funds may include limited partners who are not affiliated with Lee Equity. Each of our Funds typically invests in, and divests of, each investment made by such Fund in parallel with one or more other Funds, including Affiliated Funds. However, from time to time, for strategic and other reasons, a co-investor or co-invest vehicle may purchase a portion of an investment from one or more Funds after such Funds have consummated their investment in the portfolio company (also known as a post-closing sell-down or transfer). Any such purchase from a Fund by a co-investor or co-invest vehicle generally occurs shortly after the Fund’s completion of the investment to avoid any changes in valuation of the investment. Where appropriate, and in our sole discretion, we are authorized to charge interest on the purchase to the co-investor or co-invest vehicle (or otherwise equitably to adjust the purchase price

under certain conditions), and to seek reimbursement to the relevant Fund for related costs. However, to the extent such amounts are not so charged or reimbursed, they generally will be borne by the relevant Fund. The allocation of investments among the Funds is generally established pursuant to the organizational documents of the Funds and further determined in accordance with our policies and procedures regarding the allocation of portfolio investments and co-investment opportunities. All Funds are exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)(1) and/or Section 3(c)(7) of the Investment Company Act. Interests in the Funds are offered pursuant to applicable exemptions from registration under the Securities Act of 1933 (the “Securities Act”) and the Investment Company Act. Investment in the Funds is generally only available to “accredited investors” as defined in Regulation D under the Securities Act, “qualified clients” within the meaning of the Investment Advisers Act of 1940 (the “Advisers Act”), and either “qualified purchasers” or “knowledgeable employees” within the meaning of the Investment Company Act. Interests in the Affiliated Funds are offered to investors that are accredited investors, qualified purchasers or knowledgeable employees who meet the sophistication standard. The General Partner of each Fund may enter into separate agreements, commonly referred to as “side letters” or similar arrangements, with a particular limited partner in connection with its admission to a Fund without the approval of any other limited partner, which would have the effect of establishing rights under or supplementing the terms of the applicable Fund’s partnership agreement with respect to such limited partner in a manner more favorable to such limited partner than those applicable to other limited partners. Such rights or terms in any such side letter or other similar agreement may include, without limitation, (i) excuse rights applicable to particular investments (which may have the effect of increasing the percentage interest of other limited partners in, and contribution obligations of other limited partners with respect to, such investments), (ii) reporting obligations of the General Partner, (iii) waiver of certain confidentiality obligations, (iv) consent of the General Partner to certain transfers by such limited partner or (v) rights or terms necessary in light of particular legal, regulatory or public policy characteristics of a limited partner. Certain limited partners that have the benefit of a “most favored nation” provision are given the opportunity to elect the rights and terms in any side letter or other similar agreement that are applicable to such limited partners. We do not participate in wrap fee programs. Management of Clients Assets As of December 31, 2023, we managed $5,175,544,771 of Client assets on a discretionary basis. This includes the committed capital which may be called by the Funds from their respective limited partners.