CREWCIAL PARTNERS LLC

Crewcial Partners LLC (Crewcial or the Firm), formerly known as Colonial Consulting, LLC, is a Securities and Exchange Commission (SEC) registered investment adviser with its principal place of business in New York, NY. Colonial Consulting Corporation, Inc. (the Corporation), the founding firm, began conducting business in 1980. Through an Asset Purchase Agreement signed in July 2004, the management of the Corporation purchased the assets of the Corporation through a newly created entity: Colonial Consulting, LLC. Effective October 2020, Colonial Consulting, LLC changed its name to Crewcial Partners LLC. Crewcial offers a broad range of investment consulting and investment management services. Crewcial's clients consist principally of endowments, foundations, charitable organizations, and other not-for-profit organizations, but also include other types of clients, including pension plans and high net worth individuals. Crewcial tailors its investment advice to the particular needs of each client. Generally, the Firm does not engage in individual stock selection but rather, principally focuses on assisting clients in selecting and investing with institutional quality private investment funds (including hedge funds, private equity funds, real estate funds, and other types of pooled investment vehicles), U.S. and international mutual funds, and exchange-traded funds (ETFs). The Firm also advises clients with respect to the hiring, retention, and termination of independent third-party investment managers (Third-Party Managers and together with managers of mutual funds, exchange-traded funds, and other private funds, investment managers). Clients may impose reasonable restrictions on investing in certain securities or types of securities.

The majority of the Firm's owners are Charles C. Georgalas, Michael A. Miller and Dine Grullon.

Investment Consulting Services

For more than thirty years, Crewcial has provided a broad range of investment consulting services to its clients. Crewcial's investment consulting services include, but are not limited to, the following:

• - Establishment of investment objectives, goals, and restrictions
• - Asset allocation studies
• - Investment manager searches, due diligence, and risk assessment
• - Calculation and verification of performance returns.
• - Monthly portfolio analysis/monitoring, including risk assessment
• - Comprehensive quarterly reporting
• - Investment manager communication and monitoring
• - Customized projects
• - Donor Forums
• - Educational Forums
• - Portfolio transitions
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The Firm's consulting process begins with meeting its clients to understand their financial goals, investment objectives, and risk tolerance. This review helps Crewcial to gain a greater understanding of the client and guides the Firm to a strategy that is tailored to the client. Based on these discussions, Crewcial produces a proposed investment policy statement (IPS) which is distributed to the client for review and comment. Crewcial spends considerable time evaluating a client's return objectives, risk tolerance, and any disconnect that may exist between the two. All interactions between Crewcial and the client are interactive in the sense that the Firm incorporates all comments and feedback, creates multiple iterations of the IPS, if necessary, and makes all necessary efforts to align the needs and expectations of the client with the IPS. After the client has adopted an appropriate IPS, Crewcial assists clients with asset allocation decisions as well as review and recommendation of investment managers.

Once Crewcial makes investment recommendations to its investment consulting clients, the Firm does not effect such transactions although the Firm may provide assistance with the implementation of its recommendations. Nonetheless, implementation of its investment recommendations, including the purchase and sale of securities and the hiring or termination of Third-Party Managers, is the sole responsibility of the client.

Investment Management Services

Crewcial also provides investment management services to certain of its clients on a discretionary basis whereby the Firm will take responsibility for implementing its investment recommendations without prior approval from its clients. This type of arrangement can make sense for clients who do not have expertise in-house, want to outsource day-to-day investment transactions, or simply have limited staff. Crewcial's approach to its investment management services is substantially similar to its approach with respect to its investment consulting services in that the Firm begins by seeking to understand the client's financial goals, investment objectives, and risk tolerance which inform the preparation of the client's IPS. The Firm then makes investment recommendations and decisions based on the client's IPS and any investment guidelines or restrictions provided by the client. The Firm then assists with implementing such recommendations and decisions, which includes effecting transactions for the purchase and sale of exchange-traded securities, completing subscription documents for clients' investments in private funds, and working with Third-Party Managers to delegate responsibility for management of clients' assets. When delegating management of client assets to a Third-Party Manager, in some circumstances, Crewcial may provide the selected Third-Party Manager with the client's IPS, after which the Third-Party Manager then would be responsible for constructing the client's portfolio based on the client's needs as delineated in the IPS. In such situations, Crewcial will monitor the performance of Third-Party Managers to ensure that they are consistent with the client's needs as described in the IPS. In other situations, a Third-Party Manager may manage the client's account employing the strategy implemented by a private fund employing the same strategy. In all situations where Crewcial delegates management of client assets to private funds and Third-Party Managers, clients should review the fund offering documents and the Brochure or other disclosure document filed by such Third-Party Manager.

Other Advisory Services

Crewcial also occasionally performs a de minimis amount of special project work (for example, asset allocation review, spending policy study, investment manager review, fund document review). This work is provided on a flat-fee basis, usually for non-consulting clients.

Assets Under Management

As of December 31, 2025, the amount of the Firm's discretionary regulatory assets under management was $749,455,282. The amount of the Firm's non-discretionary regulatory assets under management was $222,191,211. The Firm's Total Assets Under Management, which includes unfunded investment manager commitments, was approximately $971,646,493.