A. AIP, LLC (“AIP” or the “Firm”), a Delaware limited liability company, is an investment adviser located in New York, NY, founded in 2006. AIP serves as the sole investment adviser to pooled investment vehicles (each a “Fund” or “Client”). The Funds are exempt from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)(7) of the Investment Company Act. Interests in the Funds are privately offered generally to qualified investors. Currently, AIP has 50 employees, 43 of whom perform investment advisory functions.

John Becker, Kim Marvin and Dino Cusumano are the principal owners of the Firm.

B. AIP generally provides discretionary investment advisory services to the Funds. In certain limited circumstances, the Firm provides non‐discretionary investment advice. AIP’s investment objective is to provide its Clients long‐term capital appreciation and generate significant risk adjusted returns. As a general matter, the Funds, seek to acquire control positions in North American headquartered industrial companies with revenues greater than $300 million that are underperforming their profit potential. Certain of the Funds also seek to make investments in secured and unsecured loans, notes, bonds and debt, equity and equity‐related securities (including without limitation common, preferred, convertibles, options and warrants) and other obligations of such companies, as well as short sales, derivatives and other hedges (collectively, “Credit Opportunity Investments”).

AIP is affiliated with entities that serve as the general partners to each of the Funds (each, a “General Partner” and, collectively, the “General Partners”) and each of the Funds is controlled by its respective General Partner.

The advisory services of AIP and each of the General Partners, as affiliated investment advisers, are described in this brochure. Each General Partner is deemed registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to AIP’s registration in accordance with SEC guidance and the information set forth herein regarding the investment advisory services provided by AIP shall also apply in respect of the General Partners.

C. AIP generally utilizes a similar strategy for all its Funds, as outlined above; however, some Funds may differ slightly in their particular investing approach, as specified in each Fund’s offering memoranda. AIP may also tailor the advisory services it provides to the Funds to the extent that certain investments cannot be held by certain Funds for legal, tax or investment mandate purposes. D. AIP does not participate in wrap fee programs. E. As of December 31, 2019, AIP managed approximately $7.2 billion in assets on a discretionary basis and $76 million in assets on a non‐discretionary basis. 5 | P a g e please register to get more info

Open Brochure from SEC website

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