This Brochure relates to Peterson Partners, LLC, a Delaware limited liability company, and the
General Partners (as defined below), (together, “Peterson”). Peterson was formerly structured as
a Utah corporation founded in September 1995, and restructured to a limited liability company in
March 2021. Peterson is an investment advisory firm located in Salt Lake City, UT. Peterson
provides discretionary investment advisory services to the private investment funds described
below (the “Funds”), which are its only advisory clients. Specifically:
Peterson provides discretionary investment advisory services to:
• Peterson Private Equity VI, LP, a Delaware limited partnership (“PPE VI”)
• Peterson Private Equity VII, LP, a Delaware limited partnership (“PPE VII”)
• Peterson Private Equity VIII, LP, a Delaware limited partnership (“PPE VIII”)
• Peterson Private Equity VIII Parallel, LP, a Delaware limited partnership (“PPE VIII-P”)
• Peterson Private Equity IX, LP, a Delaware limited partnership (“PPE IX”)
• Peterson Private Equity X, LP, a Delaware limited partnership (“PPE X”)
• Peterson Breeze Coinvest, LLC, a Delaware limited liability company (“PB Coinv”)
• Peterson Packsize Coinvest, LP, a Delaware limited partnership (“Packsize Coinv”)
• Peterson Packsize Coinvest Holdings, LLC, a Delaware limited liability company
(“Packsize Coinv Hld”)
• Peterson ES Coinvest, LLC, a Delaware limited liability company (“ES Coinv”)
• Peterson Dura Coinvest, LLC, a Delaware limited liability company (“Dura Coinv”)
• Peterson LS Coinvest, LLC, a Utah limited liability company (“LS Coinv”)
• Peterson PW Coinvest, LLC, a Delaware limited liability company (“PW Coinv”)
• Peterson PW Coinvest B, LLC, a Delaware limited liability company (“PW Coinv B”)
• Peterson Venture Partners Zero, LLC, a Utah limited liability company (“PVP Zero”)
• Peterson Venture Partners I, LP, a Delaware limited partnership (“PVP I”)
• Peterson Venture Partners II, LP, a Delaware limited partnership (“PVP II”)
• Peterson Venture Partners III, LP, a Delaware limited partnership (“PVP III”)
• Peterson Venture Partners IV, LP, a Delaware limited partnership (“PVP IV”)
• PVP Opportunity Fund I, LP, a Delaware limited partnership (“PVP Opp I”)
• Peterson Venture Partners K-I, LP, a Delaware limited partnership (“PVP K-I”)
• Peterson Venture Partners II Coinvest I, LLC, a Delaware limited liability company
(“PVP II Coinv I”)
• Peterson Ethos Coinvest, LLC, a Delaware limited liability company (“Ethos Coinv”)
• Peterson Search Partners Zero, LLC, a Utah limited liability company (“PSP Zero”)
• Peterson Search Partners I, LP, a Delaware limited partnership (“PSP I”)
• Peterson Search Partners II, LP, a Delaware limited partnership (“PSP II”)
• Peterson Search Partners I Coinvest I, LLC, a Delaware limited liability company
(“PSP I Coinv I”)
• Peterson CSW Coinvest, LLC, a Delaware limited liability company (“CSW Coinv”)
• Peterson Real Assets, LLC, a Utah limited liability company (“PRA”)
• Peterson SMR Coinvest, LLC, a Delaware limited liability company (“SMR Coinv”)
• Peterson Special Situations, LLC, a Utah limited liability company (“PSS”)
Affiliates of Peterson serve as the general partners or managers of certain of the Funds.
Specifically:
• Peterson Private Equity VI GP, LLC (“GP of PPE VI”) serves as the general partner to
PP VI
• Peterson Private Equity VII GP, LLC (“GP of PPE VII”) serves as the general partner to
PPE VII
• Peterson Private Equity VIII GP, LLC (“GP of PPE VIII & PPE VIII-P”) serves as the
general partner to PPE VIII and PPE VIII-P
• Peterson Private Equity IX GP, LLC (“GP of PPE IX”) serves as the general partner to
PPE IX
• Peterson Private Equity X GP, LLC (“GP of PPE X”) serves as the general partner to
PPE X
• Peterson Breeze Coinvest Mgt, LLC (“Manager of PB Coinv”) serves as the manager to
PB Coinv
• Peterson Packsize Coinvest GP, LLC (“GP & Manager of Packsize Coinv & Packsize
Coinv Hld”) serves as the general partner and manager to Packsize Coinv and Packsize
Coinv Hld, respectively
• Peterson ES Coinvest Mgt, LLC (“Manager of ES Coinv”) serves as the manager to ES
Coinv
• Peterson Dura Coinvest Mgt, LLC (“Manager of Dura Coinv”) serves as the manager to
Dura Coinv
• Peterson LS Coinvest Mgt, LLC (“Manager of LS Coinv”) serves as the manager to LS
Coinv
• Peterson PW Coinvest Mgt, LLC (“Manager of PW Coinv & PW Coinv B”) serves as the
manager to PW Coinv and PW Coinv B, respectively
• Peterson Venture Partners, LLC (“Manager of PVP Zero”) serves as the manager to PVP
Zero
• Peterson Venture Partners I GP, LLC (“GP of PVP I”) serves as the general partner to
PVP I
• Peterson Venture Partners II GP, LLC (“GP of PVP II”) serves as the general partner to
PVP II
• Peterson Venture Partners III GP, LLC (“GP of PVP III”) serves as the general partner to
PVP III
• Peterson Venture Partners IV GP, LLC (“GP of PVP IV”) serves as the general partner to
PVP IV
• PVP Opportunity Fund I GP, LLC (“GP of PVP Opp I”) serves as the general partner to
PVP Opp I
• Peterson Venture Partners K-I GP, LLC (“GP of PVP K-I”) serves as the general partner
to PVP K-I
• Peterson Ethos Coinvest Mgt, LLC (“Manager of Ethos Coinv”) serves as the manager to
Ethos Coinv
• Peterson Search Partners Zero Management, LLC (“Manager of PSP Zero”) serves as the
manager to PSP Zero
• Peterson Search Partners I GP, LLC (“GP of PSP I”) serves
as the general partner to PSP
I
• Peterson Search Partners II GP LLC (“GP of PSP II”) serves as the general partner to
PSP II
• Peterson CSW Coinvest Mgt, LLC (“Manager of CSW Coinv”) serves as the manager to
CSW Coinv
• PRA Management, LLC (“Manager of PRA”) serves as the manager to PRA
• Peterson SMR Coinvest Mgt, LLC (“Manager of SMR Coinv”) serves as the manager to
SMR Coinv
• PSS Management, LLC (“Manager of PSS”) serves as the manager to PSS
The GP of PPE VI, the GP of PPE VII, the GP of PPE VIII & PPE VIII-P, the GP of PPE IX, the
GP OF PPE X, the Manager of PB Coinv, GP & Manager of Packsize Coinv & Packsize Coinv
Hld, the Manager of ES Coinv, the Manager of PVP Zero, the GP of PVP I, the GP of PVP II,
the GP of PVP III, the GP of PVP IV, the GP of PVP Opp I, the GP of PVP K-I, the Manager of
Ethos Coinv, the Manager of Dura Coinv, the Manager of LS Coinv, and the Manager of PW
Coinv & PW Coinv B, the Manager of PSP Zero, the GP of PSP I, the GP of PSP II, the
Manager of CSW Coinv, the Manager of PRA, the Manager of SMR Coinv, and the Manager of
PSS are collectively referred to as (the “General Partners”).
Peterson serves as investment adviser to private investment funds that are operating as private
equity funds and venture capital funds.
Private Equity and Search Funds:
PPE VI, PPE VII, PPE VIII, PPE VIII-P, PPE IX, PPE X, PB Coinv, Packsize Coinv, Packsize
Coinv Hld, ES Coinv, Dura Coinv, and LS Coinv, PW Coinv, and PW Coinv B, PSP Zero, PSP
I, PSP II, PSP I Coinv I, CSW Coinv, PRA, SMR Coinv, PSS:
Peterson’s strategy is to be the preferred capital partner to entrepreneurs and founders of
businesses in making opportunistic private equity investments. Typically, the companies
Peterson invests in on behalf of the Funds (together companies Peterson has identified as
potential investments for the Funds, the “Portfolio Companies”) are companies that have
greater than $10 million in revenues, are cash flow positive and are poised for rapid and
profitable growth. In addition to providing capital, Peterson helps company leaders as they
consider and implement strategies in areas such as sales, personnel, and finance. Peterson
expects that the companies that the Funds invest in will typically have some or all of the
following characteristics:
• Proven business models and positive cash flow or steady state net operating cash flows;
• Talented management (or Peterson and its network can bring such management to the
Portfolio Company);
• Straight-forward approaches to competing in business services, light manufacturing,
distribution and other industry sectors;
• High operating margins that generally derive from unique value-added services, a
superior brand value proposition or an advantaged position in an embryonic or growing
industry;
• High growth prospects, through a combination of organic expansion and acquisition;
• Attractive valuations; and
• Potential for improvements in strategy and management (e.g., fragmented or under-
managed industries).
• Search Funds and operating companies acquired by Search Fund entrepreneurs
From time to time, Peterson forms and manages, on a transaction-by-transaction basis, special
purpose vehicles, such as PSP I Coinv I, PB Coinv, Dura Coinv, PW Coinv, and PW Coinv B,
Packsize Coinv, Packsize Coinv Hld, ES Coinv, CSW Coinv, to participate in investment
opportunities alongside the Funds, or, such as LS Coinv, and SMR Coinv, opportunities
separate from the Funds. Unlike the Funds, which generally do not limit investment discretion,
such special purpose vehicles are often limited to investing only in the securities relating to the
particular transaction or strategy for which the special purpose vehicle was created.
It should be noted that each of the private equity Funds has an investment committee that is
comprised of officers of Peterson (each, an “Investment Committee”). The relevant Investment
Committee makes decisions regarding the acquisition and disposition of Portfolio Companies for
the Funds.
Venture Capital Funds:
PVP Zero, PVP I, PVP II, PVP III, PVP IV, PVP Opp I, PVP K-I, PVP II Coinv I, and Ethos
Coinv:
Peterson pursues an investment strategy to partner with talented entrepreneurs and founders of
companies to build growth businesses. PVP Zero has invested in start-up and early-stage
companies. PVP I, PVP II, PVP III, and PVP IV are primarily engaged in seed and early stage
venture capital investing. From time to time, Peterson forms and manages, on a transaction-by-
transaction basis, special purpose vehicles, such as PVP Opp I, PVP K-I, PVP II Coinv I, and
Ethos Coinv to participate in investment opportunities alongside the Funds. Unlike the Funds,
which generally do not limit investment discretion, such special purpose vehicles are often
limited to investing only in the securities relating to the particular transaction or strategy for
which the special purpose vehicle was created.
It should be noted that each of the venture capital Funds has an investment committee that is
comprised of officers of Peterson and/or other affiliated individuals (each, an “Investment
Committee”). The relevant Investment Committee makes decisions regarding the acquisition
and disposition of Portfolio Companies for the Funds.
The investment focus of each Fund is described in its partnership agreement, confidential private
offering memorandum and/or investment management agreement (“Governing Documents”).
Peterson does not participate in wrap fee programs.
As of December 31, 2023, Peterson managed approximately $2,126,417,239in Fund assets
(calculated in regulatory assets under management), all on a discretionary basis. Peterson does
not currently manage any advisory client assets on a non-discretionary basis.