9AT: PETROCAP, LLC

other names

PETROCAP, LLC

Adviser Profile

As of Date	03/30/2026
ADV Location	DALLAS, TX, United States
Adviser Type - Large advisory firm
Number of Employees	15 -6%
of those in investment advisory functions	6 -25%
Registration	SEC, Approved, 03/28/2014

AUM^*	949,062,177 4%
of that, discretionary	949,062,177 4%
Private Fund GAV^*	948,607,210 17%
Avg Account Size	135,580,311 -11%
SMA’s	No
Private Funds	8 2
Contact Info	214 xxxxxxx
Websites

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

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count5	GAV$690,913,857
Fund TypeReal Estate Fund	Count3	GAV$257,693,353

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 LONE STAR FUNDS	Hedge Fund22.0b	Liquidity Fund-	Private Equity Fund11.1b	Real Estate Fund3.2b	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV36.3b	AUM35.7b	#Funds38
Adviser MSD PARTNERS, L.P.	Hedge Fund6.9b	Liquidity Fund-	Private Equity Fund2.3b	Real Estate Fund10.1b	Securitized Asset Fund627.4m	Venture Capital Fund-	Other Fund-	Total Private Fund GAV19.9b	AUM21.3b	#Funds88
Adviser RED DOOR WEALTH MANAGEMENT, LLC	Hedge Fund51.8m	Liquidity Fund-	Private Equity Fund76.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund4.4m	Total Private Fund GAV132.6m	AUM3.1b	#Funds7
Adviser SWS PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund15.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.7m	AUM442.6m	#Funds10
Adviser SEPIO CAPITAL, LP	Hedge Fund67.6m	Liquidity Fund-	Private Equity Fund228.0m	Real Estate Fund70.4m	Securitized Asset Fund-	Venture Capital Fund1.6m	Other Fund-	Total Private Fund GAV369.1m	AUM5.6b	#Funds12
Adviser TIEDEMANN ADVISORS, LLC	Hedge Fund3.5b	Liquidity Fund-	Private Equity Fund433.1m	Real Estate Fund201.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund379.1m	Total Private Fund GAV4.5b	AUM31.0b	#Funds33
Adviser PARTNERS CAPITAL INVESTMENT GROUP, LLP	Hedge Fund11.2b	Liquidity Fund-	Private Equity Fund12.8b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund198.5m	Total Private Fund GAV24.1b	AUM50.5b	#Funds84
Adviser FIRST TRUST CAPITAL MANAGEMENT L.P.	Hedge Fund762.1m	Liquidity Fund-	Private Equity Fund2.5b	Real Estate Fund304.0m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund291.1m	Total Private Fund GAV3.9b	AUM12.3b	#Funds44
Adviser PERMIT CAPITAL, LLC	Hedge Fund491.1m	Liquidity Fund-	Private Equity Fund27.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV518.6m	AUM491.1m	#Funds8
Adviser METLIFE INVESTMENT MANAGEMENT, LLC	Hedge Fund371.4m	Liquidity Fund-	Private Equity Fund5.0b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.3b	Total Private Fund GAV7.7b	AUM563.8b	#Funds25

Brochure Summary

Overview

PetroCap is a Delaware limited liability company with a principal place of business in Dallas, Texas. The Firm provides discretionary investment advisory services to pooled investment vehicles that specializes in investments in the oil and gas and solar sectors. This Form ADV Part 2A applies to PetroCap and its relying adviser, Aplomado. PetroCap is the investment adviser to PetroCap Partners II, L.P., and PetroCap Partners III, L.P. (the “PetroCap Funds”) and a related co-investment entity, Four Rivers Co-Invest, L.P. (“Four Rivers”). Aplomado is the investment adviser to Aplomado Partners I-A, LP (Fund 1-A”), Aplomado Partners I-B, LP (“Fund 1-B”), and Aplomado Partners Holding I, LLC (collectively, the “Aplomado Funds”, and together with the PetroCap Funds and Four Rivers, the “Funds”). OWNERSHIP PetroCap was formed in 2014 and its principal owners are William Britain, Marc Manzo, and David Hopson. TYPES OF ADVISORY SERVICES The Funds are currently the sole advisory clients of the Company. The PetroCap Funds generally invest in stand-alone oil and natural gas projects with a focus on the

“upstream” or exploration and production (E&P) segment of the domestic oil and natural gas industry. Four Rivers generally invests in an upstream and midstream oil and gas project in the San Juan Basin. The Aplomado Fund generally invests in solar royalties through the acquisition of land and lease payment rights under photovoltaic (PV) solar farms that are in current operation as well as those in the development phase. TAILORING SERVICES The Company provides investment advice directly to the Funds and does not tailor its services individually to the investors. The Company invests in a manner which is consistent with the stated investment objectives as detailed in the private placement memorandum and limited partnership agreement (the “governing documents”) of the Funds. WRAP FEE PROGRAMS The Company does not participate in wrap fee programs. REGULATORY ASSETS UNDER MANAGEMENT As of December 31, 2023, the Company managed approximately $914 million in regulatory assets under management, on a discretionary basis. The Company does not manage any client assets on a non-discretionary basis.

PETROCAP, LLC

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