Founded in 2005, Edwards Capital, LLC d/b/a Flexpoint Ford, LLC (together with its fund general partners and any applicable affiliates (unless otherwise specified), “Flexpoint” or the “Firm”), is an investment management firm specializing in private investments in financial services and healthcare. Flexpoint’s primary places of business are in Chicago, IL and New York, NY. Flexpoint serves as the investment manager for the following private funds:
• Flexpoint Fund II, L.P. (“Fund II”); Flexpoint Fund III, L.P. (“Fund III”); Flexpoint Fund IV-A, L.P. and Flexpoint Fund IV-B, L.P. (the “Fund IV Main Funds”); Flexpoint Overage Fund IV-A, L.P. and Flexpoint Overage Fund IV-B, L.P. (the “Fund IV Overage Funds” and collectively with the Fund IV Main Funds unless the context otherwise requires, “Fund IV”); Flexpoint Fund V-A, L.P. and Flexpoint Fund V-B, L.P. (the “Fund V Main Funds”); Flexpoint Overage Fund V-A, L.P. and Flexpoint Overage Fund V-B, L.P. (the “Fund V Overage Funds” and collectively with the Fund V Main Funds unless the context otherwise requires, “Fund V”); o Fund II, Fund III, Fund IV Main Fund and Fund V Main Fund are together the “Main Funds”, unless the context requires otherwise. o Overage Fund IV and Overage Fund V are together the “Overage Funds”, unless the context requires otherwise.
• Flexpoint Special Assets Fund, L.P. (“Asset Fund I”), Flexpoint Asset Opportunity Fund II- A, L.P. and Flexpoint Asset Opportunity Fund II-B, L.P. (together “Asset Fund II” and, collectively with Asset Fund I, the “Asset Funds”);
• Flexpoint Fund II (Cayman), L.P., Flexpoint Fund III AIV (Cayman), L.P., Flexpoint Fund III AIV (B), L.P. and Flexpoint Special Assets Fund AIV (Cayman), L.P. (together the “Alternative Investment Vehicles”); and
• Flexpoint PPH Aggregator, LLC and Flexpoint CIF Holdings, L.P. (the “Co-Investment Funds”) Each Main Fund, Overage Fund, Asset Fund, Alternative Investment Vehicle and Co-Investment Fund are referred to throughout this Brochure as a “Fund”, and collectively the “Funds”. In certain limited circumstances, as more fully described in Item 7 below, the Firm permits certain investors and third parties to co-invest alongside a Fund directly into a portfolio company. Unlike the Co-Investment Funds mentioned above, such direct co-investments are not considered Funds or clients of Flexpoint. Each Fund is managed by a general partner (each a “General Partner” and collectively, the “General Partners”), which has the authority to make investment decisions on behalf of such Fund. Each of the General Partners is deemed registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), pursuant to Flexpoint’s registration in accordance with SEC guidance. The applicable General Partner of each Fund retains investment discretion and investors in the Funds do not participate in the control or management of the Funds. While the General Partners maintain ultimate authority over the respective Funds, Flexpoint or an affiliate has been designated the role of investment adviser. For more information about the Funds and General Partners, please see Flexpoint’s Form ADV Part 1, Schedule D, Sections 7.A. and 7.B.(1). Each of Flexpoint’s Funds have specific investment mandates as further detailed in each Fund’s Governing Documents (as defined below). The Main Funds are focused on privately negotiated equity investments in financial services and healthcare companies and make primarily long-term private equity and equity-related investments. The Asset Funds are focused on privately negotiated investments in financial assets, either directly by acquisition or indirectly by funding investments backed by such assets. The Alternative Investment Vehicles were organized to address specific tax, legal, business, accounting and regulatory-related matters. The Fund IV Overage Funds and Fund V Overage Funds were formed to invest alongside the Fund IV Main Funds and Fund V Main Funds, respectively, on an “overage” basis and will only participate in a limited number of investments made by the Fund IV Main Fund or Fund V Main Fund. The Co-Investment Funds were formed to permit certain existing investors to invest in a portfolio company alongside an existing Main Fund or Asset Fund. Flexpoint provides investment advisory services as a private fund manager to its Funds. The Main Funds invest through privately negotiated transactions in operating companies, generally referred to as “portfolio companies”, in the healthcare

and financial services industry. Each portfolio company has its own independent management team responsible for managing its day-to-day operations, although for portfolio company investments where Flexpoint holds a majority position, the senior principals or other personnel and/or third parties appointed by Flexpoint will generally serve on such portfolio companies’ respective boards of directors or otherwise act to influence control over management. In addition, in some cases, Flexpoint will more directly influence the day-to-day management of the company by participating in the hiring of individuals such as chief executive officer, chief operations officer, chief financial officer or in other senior roles. Flexpoint’s advisory services for all Funds consist of investigating, identifying and evaluating investment opportunities, structuring and negotiating the terms of investments, managing and monitoring investments and achieving dispositions of such investments. While investments are made predominantly in nonpublic companies, some of the investments held by the Funds are in public companies or in private companies that go public while owned by a particular Fund. Flexpoint provides investment advisory services to each Fund in accordance with the applicable limited partnership agreement, limited liability company agreement, subscription agreement, private placement memorandum, investment advisory agreement, and, if applicable, any side letters as well as any analogous organizational or constituent documents of such Fund (collectively, the “Governing Documents”) and investors determine the suitability of an investment in a Fund based on, among other things, the Governing Documents. Flexpoint does not tailor its advisory services to the individual needs of investors in its Funds; the Firm’s investment advice and authority for each Fund is tailored to the investment objectives of that Fund as described in the Governing Documents of the applicable Fund. Investors in Funds participate in the overall investment program for the applicable Fund and generally cannot be excused from a particular investment except pursuant to the terms of the Governing Documents. In accordance with industry common practice, Flexpoint has entered into side letters or similar agreements with certain investors including those who make substantial commitments of capital or who were early-stage investors in the Funds, or for other reasons in the sole discretion of Flexpoint, in each case that have the effect of establishing rights under, or altering or supplementing, a Fund’s Governing Documents with respect to the applicable investor. Rights contained within agreed upon side letters include but are not limited to notification provisions, reporting requirements, partnership indebtedness, disclosure of confidential information, advisory board representation, indemnification provisions and “most favored nations” provisions, among others. These rights, benefits or privileges are not always made available to all investors, consistent with the Governing Documents and general market practice. Commencing in September 2024, Flexpoint will make required disclosure of certain side letters to all investors (and in certain cases, to prospective investors) in accordance with the new Private Fund Rule. Side letters are negotiated at the time of an investor’s capital commitment and once invested in a Fund, investors generally cannot impose additional investment guidelines or restrictions on such Fund. There can be no assurance that the side letter rights granted to one or more investors will not in certain cases disadvantage other investors. Flexpoint does not participate in wrap fee programs. As of December 31, 2023, Flexpoint managed approximately $8,096,782,115 of regulatory assets under management, all of which are managed on a discretionary basis. The calculation of regulatory assets under management includes remaining commitments and duplicates certain assets in Co- Investment Funds managed by Flexpoint, as such Co-Investment Funds are invested in by other Flexpoint managed Funds. Without such duplication, Flexpoint regulatory assets under management, including remaining commitments, are approximately $7,705,147,656. Principal Owners Flexpoint is ultimately owned by the Firm’s Chief Executive Officer, Donald J. Edwards through entities under his control. For more information about Flexpoint’s owners and executive officers, see Flexpoint’s Form ADV Part 1, Schedule A.