List of 26 Small Asset Manager Investors

Investor	PE Assets $mlns	Portfolio		M&A Activity Buy vs Sell, Last 5 Years
Investor	PE Assets $mlns	Total	Current	M&A Activity Buy vs Sell, Last 5 Years
Ara Partners Houston, Texas, United States Asset Manager • 2017 • website See all 25	-	28	25
FVS SGR Venice, Italy Asset Manager • 2006 • website See all 1	-	14	7
Closed Loop Partners New York, New York, United States Asset Manager • website See all 41	-	5	5
DBAY Advisors Douglas, United Kingdom Asset Manager • 2008 • website See all 1	-	5	4
AMBright Aarhus, Denmark Asset Manager • 2021 • website See all 2	-	1	1
United Western Group Washington, District of Columbia, United States Asset Manager • 2019 • website	-	1	1
Antarctica Capital New York, New York, United States Asset Manager • 2010 • website	-	4	2
Aetos Capital New York, New York, United States Asset Manager • 1999 • website See all 6	-	1	1
The Silverfern Group Greenwich, Connecticut Asset Manager • 2001 • website See all 5	-	22	9
InstarAGF Asset Management Toronto, Ontario, Canada Asset Manager • 2014 • website See all 14	-	10	9
JPB Partners Hanover, Maryland, United States Asset Manager • 1995 • website See all 6	-	39	5
Teslin Capital Management Maarsbergen, Netherlands Asset Manager • 1991 • website See all 2	-	32	29
Cynosure Group Salt Lake City, Utah, United States Asset Manager • 2014 • website See all 27	-	13	12
Quabbin Capital Boston, Massachusetts, United States Asset Manager • 1974 • website See all 2	-	25	3
Macarthur Fortune Holding United States Asset Manager	-	1	-
Prudentia Captial Paris, France Asset Manager • 2018 • website See all 3	-	6	5

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