SILVERCREST ASSET MANAGEMENT GROUP LLC

Silvercrest Asset Management Group LLC (Silvercrest) provides asset management and family office services to families and select institutional investors.

As of December 31, 2024, Silvercrest advised on $36.5 billion for a clientele comprised primarily of families, as well as endowments, foundations and other institutional investors. Silvercrest's family office, advisory and investment capabilities are available to clients interested in investing substantial assets. Of the $36.5 billion, Silvercrest has been granted discretionary authority over $23.3 billion. In accordance with its fiduciary duty as to some of those $23.3 billion of assets, Silvercrest may recommend to clients that they invest in one or more private funds managed on a discretionary basis by one or more third parties. As to the remaining $13.2 billion of assets, Silvercrest provides non-discretionary advice, reporting services or has another role in managing them.

To the extent Clients' assets are held in separately managed accounts, they are generally managed on a fully discretionary basis where Silvercrest makes all decisions as to which securities are bought or sold and/or the total amount bought or sold. Silvercrest tailors its advisory services to the individual needs of its clients. Silvercrest's portfolio managers apply specific objectives and guidelines for each client portfolio which they are responsible for managing. Clients may impose restrictions on investing in certain types of securities. If a client wishes to limit the portfolio manager's discretion in any way, the limitation will be contained in the client's investment objectives and guidelines.

Silvercrest's investment capabilities include equity management, fixed-income management, outsourced investments and alternative investments. Silvercrest acts as advisor to certain of the alternative investment products, which includes a private fund and funds of funds. Silvercrest also serves as sub-advisor to one or more funds registered under the Investment Company Act of 1940. Silvercrest also provides institutional investors with independent, investment-driven risk analytics, due diligence and custom portfolio advisory support. Risk advisory services are based on both quantitative and qualitative analyses, including Value at Risk (VaR), stress testing, Monte Carlo simulation and most common risk metrics. Due diligence services comprise best practices for review of operational and investment diligence. Finally, Silvercrest provides outsourced chief investment officer services to institutions. Silvercrest charges a fee to institutions that become clients of this business unit for: (i) managing their overall investment strategy and making recommendations to those clients with respect to their allocations to third party asset managers; and (ii) providing portfolio reporting and ongoing due diligence services.

Silvercrest was established in 2001. It is a wholly-owned subsidiary of Silvercrest L.P. The general partner of Silvercrest L.P. is Silvercrest Asset Management Group Inc., which is a publicly-traded C corporation (NASDAQ symbol SAMG). Class A Common Shares of SAMG are owned by the investing public, Class B Common Shares are owned by employees of Silvercrest.