Afsaneh Beschloss founded The Rock Creek Group, LP (the “Adviser” or “RockCreek”), a Delaware limited partnership that has been in the investment management business since 2002. Ms. Beschloss is the Founder and CEO of the Adviser and the managing member of the Adviser’s general partner.

The Adviser is owned by estate planning family trusts of the Adviser’s Founder and CEO and other RockCreek management team members (through the Adviser’s management equity plan).

As further described below, the Adviser primarily invests in securities directly or, indirectly (through investments in Portfolio Funds (as defined below) and investments with Sub Advisers (as defined below)), across a range of strategies, including without limitation, mult i- strategy; small/emerging managers; non-U.S., emerging, and frontier markets; diversified; long/short equity; long-biased equity; short-biased equity; credit; activist relative value; market neutral; equity-hedged; global event-driven macro/commodities; opportunistic; real estate, and other strategies.

Commingled Funds. The Adviser provides investment advisory and invest me nt management services to multi- investor private investment vehicles (“Commingled Funds”) that are structured as limited partnerships, limited liability companies, corporations, or other investment vehicles. Certain Commingled Funds invest in other investment vehicles or invest me nt funds managed by underlying third-party asset managers, including alternative investment funds investing in marketable securities and other investments and private funds investing in illiq uid securities such as private credit and other less liquid private investments, including without limitation, private equity, venture capital, and real estate and illiquid investments or directly investing in publicly traded securities, including but not limited to, U.S. and non-U.S. equity securities (both on the long and short side), debt securities, money market instruments, non-U.S. dollar currencies, options and futures contracts, forward contracts and other derivatives, and other asset classes (“Portfolio Funds”).

Assets of Commingled Funds may also be allocated to Sub Advisers (as defined below) for investment. The Adviser’s services to the Commingled Funds include investment manageme nt and portfolio services, including portfolio construction; the identification, selection, monitor ing, and evaluation of the Portfolio Funds, portfolio managers (“Portfolio Managers”), and Sub Advisers with which the Commingled Funds invest; and risk management. The term “Sub Advisers” refers to certain asset managers that have entered into sub-advisory or similar agreements with the Adviser that are discretionary (i.e., a Sub Adviser has authority to purchase or sell securities) or non-discretionary (i.e., the Adviser authorizes or pre-approves a Sub Adviser’s proposed transaction) and opening managed accounts with such Sub Advisers rather than by investing in their commingled investment funds. Consistent with their strategies, certain Commingled Funds invest directly in publicly listed securities traded on exchanges in the U.S. market and in non-U.S. exchanges, including emerging and frontier markets. Certain Commingled Funds may invest in certain other Commingled Funds and Intermediate Vehicles (as described below). The investing Commingled Fund, in such cases, purchases a share class or special interest of the relevant investee Commingled Fund so as the investing Commingled Fund does not incur duplicative management fees or such fees are offset to avoid the duplication of fees. Separate Accounts, Funds of One, Segregated Portfolios, Series Portfolios, and Advisory Clients (each as defined below) may invest in certain Commingled Funds

Fund of One. The Adviser provides investment advisory and investment manage me nt services to customized private investment vehicles (“Funds of One”) that are structured as limited partnerships, limited liability companies, corporations, or other investment vehicles that have been organized for a single investor (or a group of affiliated investors) seeking a customized portfolio tailored to an investor’s specific investment needs, guidelines, risk tolerances, reporting, and other specific requirements. The fees and expenses charged to an investor in a Fund of One, are set forth in the documentation on a case-by-case basis depending upon such factors as the size and scope of mandate, overall relationship with the investor, type of strategies, and unique portfolio features and requirements.

The Adviser invests assets of a Fund of One as set forth in the applicable guidelines, and generally may invest such assets in certain Funds, the emerging markets platform, and Intermed iate Vehicles. The Fund of One, in such cases, purchases a share class or special interest of the relevant Fund made available so as not to incur duplicative management fees or such fees are offset so as to avoid the duplication of fees. Assets of Funds of One may be invested in Portfolio Funds, with Sub Advisers and may also include direct investments in securities (including publicly listed securities), futures and other derivatives.

The Adviser’s services to the Funds of One include investment management and portfolio services, including portfolio construction; the identification, selection, monitoring, and evaluatio n of the Portfolio Funds, Portfolio Managers, and Sub Advisers with which the Funds of One invest; and risk management.

Unless otherwise specified herein, the Commingled Funds and the Funds of One may be referred to herein as the “Funds.”

Separate Accounts. In addition to providing services to the Funds, the Adviser provides investment management services to separate accounts (“Separate Accounts”) for a single investor (or a group of affiliated investors). A Separate Account may have terms (e.g., regarding fees, transparency and liquidity) that are different from those of the Funds. Such accounts may have unique guidelines, customized operating guidelines, and investment or other restrictions or requirements of the respective investor. Accordingly, these customized arrangements, includ ing the fees and expenses charged to Separate Accounts, are set forth in the specific documentat io n and depend upon such factors as the size and scope of mandate, overall relationship, type of strategy, and unique features and requirements of the account. Separate Accounts may invest in different combinations of the strategies described herein or others. The Adviser may invest assets of a Separate Account in certain Funds, with Sub Advisers (including the emerging markets platform), and Intermediate Vehicles in accordance with such Separate Account’s investment guidelines. The Separate Account, in such cases, purchases a share class or special interest of the relevant Fund, or the Separate Account is structured, such that the Separate Account does not incur duplicative management fees or such fees are offset so as to avoid the duplication of fees. Assets of Separate Accounts may be invested in Portfolio Funds, invested with Sub Advisers, or invested directly in securities (including publicly listed securities), futures, derivatives, and other investment products.

Unless otherwise specified herein, the Funds and Separate Accounts (and not the investors in a Fund or invested in a Separate Account) may be referred to herein as “Clients.”

Intermediate Vehicles. A Client may access one or more particular Portfolio Managers or one or more particular Portfolio Funds through an intermediate entity managed by the Adviser (or an affiliate of the Adviser) in which other Funds, Separate Accounts, or assets managed by the Adviser may have an interest (each, an “Intermediate Vehicle”). Intermediate Vehicles may invest into one or into multiple underlying Portfolio Managers or Portfolio Funds. Generally, if such an Intermediate Vehicle is utilized for purposes of obtaining access to a particular Portfolio Manager or Portfolio Fund and satisfying minimum investment size or other requirements, the Adviser will not charge or apply any additional Adviser management fees or performance-based allocations or fees at the Intermediate Vehicle level, but the applicable Client will bear its pro rata share of the costs and expenses associated with the establishment and ongoing operation of such Intermed iate Vehicle. Each shareholder in an Intermediate Vehicle does not directly own any interests or shares in the underlying Portfolio Funds to which it has indirect exposure through its investment in the Intermediate Vehicle. In the event of the removal or termination of the Adviser, with respect to any Intermediate Vehicle in which the Client is invested, each shareholder will be entitled to receive its pro rata share of redemption proceeds equal to the net asset value of the Client’s interest in such Intermediate Vehicle as of the effective date of redemption. Generally, redemptions from the Intermediate Vehicles in which the Client is invested will be subject to the terms of such Intermediate Vehicles, including without limitation, restrictions on the timing or amount of liquidity. An Intermediate Vehicle will generally have liquidity similar, but not identical, to the underlying Portfolio Funds in which such Intermediate Vehicle is invested given there may be additional notice time periods for redemptions, but there may also be inflows into the Intermed iate Vehicle to satisfy redemption requests. Segregated Portfolios. The Adviser serves as the investment adviser to each segregated portfolio of certain Cayman Islands segregated portfolio companies (each a “Segregated Portfolio”). The investment activities of each Segregated Portfolio are generally conducted by third-party unaffiliated sub-advisers, or by non-discretionary trading advisors (“Trading Advisors”), some of which may be locally based teams in certain emerging market countries, that engage in investment activities pursuant to written advisory agreements with the Adviser. The Adviser has investment discretion, subject to applicable portfolio guidelines and parameters, to allocate assets of applicable Separate Accounts, Funds of One, Commingled Funds and Advisory Clients (as defined below) under its management to the Segregated Portfolios that comprise the Adviser’s emerging markets platform or a managed account platform to access particular investment funds, Trading Advisors, and markets. In certain cases, the Adviser may directly engage in investment activities on behalf of a Segregated Portfolio. Each Segregated Portfolio operates with the benefit of statutory segregation under Cayman Islands law of assets and liabilit ies between each Segregated Portfolio. Although not judicially tested, the principal advantage of a Cayman Islands segregated portfolio company is that it protects the assets of one Segregated Portfolio from the liabilities of other Segregated Portfolios. It is uncertain, however, whether such segregation of assets and liabilities would be enforced in other jurisdictions. Series Portfolios. The Adviser serves as the investment adviser to each series of certain Delaware series limited liability companies (each a “Series Portfolio”). A Fund that is a Delaware series limited liability company may establish one or more segregated Series Portfolios to potentially segregate liability, for administrative reasons and for other purposes, and the Adviser has the ability to combine a series. Generally, each Series Portfolio is expected to be wholly owned by the applicable Fund. The principal purpose of a Series Portfolio is for liability segregation among various investments in a Series Portfolio held by the applicable Fund. Within a Series Portfolio, the Adviser may directly engage in direct securities trading strategies with regard to certain Funds or the investment activities may be conducted by Portfolio Managers and their respective Portfolio Funds with regard to certain other Funds. Under Delaware law, the investments and other assets of each series generally will not be available to satisfy the liabilit ies of any other series or the fund. However, the limits on inter-series liability have not been conclusively determined in a court of competent jurisdiction.

Advisory Services. The Adviser may provide non-discretionary advisory services relating to investments in Portfolio Funds, asset allocation, and manager selection to endowments and foundations, pension or profit-sharing plans, or other institutional clients (“Advisory Clients”), possibly using investment strategies similar to those employed for the Funds or Separate Accounts. Among other customized services, Advisory Client services may include assistance with the performance of due diligence on underlying funds and managers of such funds as well as portfo lio construction, portfolio risk analysis, and risk management. Furthermore, in certain cases where the Adviser has been granted discretionary investment authority over particular portfolios and accounts, the investors in such portfolios and accounts may have certain rights with regard to approval or disapproval of the investments for those portfolios and accounts.

Transition Management Services. The Adviser may assist Clients and Advisory Clients seeking management of the liquidation or transfer of their portfolios of underlying invest me nt funds and other investments previously managed by other investment managers. The Adviser may, subject to applicable laws and regulations, agree with the Client to transfer at fair value certain investments from the transition portfolios to Funds or Separate Accounts it manages and will notify the Client and/or its custodian of the transition portfolio’s transfers and other liquidation. Pursuant to specific mandates if requested by a Client the Adviser may assist in managing and monitoring such Client’s portfolio as the management of its portfolio is transitio ned. As of February 28, 2019, the Adviser had a total of approximately $14.3 billion in regulatory assets under management (approximately $13 billion on a discretionary basis and $1.3 billion on a non-discretionary basis). Please see Item 7 for a list of the types of the Adviser’s Clients. please register to get more info

Open Brochure from SEC website
Pooled Investment Vehicles $7,034,395,288
Discretionary $12,851,802,537
Non-Discretionary $1,071,151,954
Registered Web Sites

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