Important Disclosures

General

The information on this website is provided solely for informational purposes and shall not constitute an offer to sell or the solicitation of an offer to buy any security, investment product, or service. Nothing contained herein constitutes investment, legal, tax, accounting, or other advice, nor is it to be relied upon in making an investment or other decision.

Any opinions expressed herein represent the current, good-faith views of the author or authors at the time of publication, are provided for limited purposes, are not definitive investment advice, and should not be relied upon as such. The information presented herein has been developed internally or obtained from sources believed to be reliable, or both; however, Black Saddle Capital Partners LLC does not guarantee the accuracy, adequacy, or completeness of such information.

Predictions, opinions, and other information contained herein are subject to change continually and without notice of any kind and may no longer be true after the date indicated.

Forward-Looking Statements

Any forward-looking statements speak only as of the date they are made, and Black Saddle Capital Partners LLC assumes no duty to, and does not undertake to, update forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements.

Case Studies and Representative Transactions

The transactions described on this website reflect the NAV lending strategy that Black Saddle is currently pursuing, which targets facilities secured by portfolios of no fewer than four underlying assets. As of June 30, 2026, fifteen transactions had been completed, of which four are described here. Six transactions fall outside the NAV lending strategy currently pursued. Four earlier transactions were secured by single-asset or dual-asset portfolios and therefore carry a concentration and risk profile that differs from the transactions described. One further transaction represents a secondary purchase of a co-lender interest in a credit already described here, rather than a separate investment.

The transactions described are intended to be representative of Black Saddle's current NAV lending strategy. They were selected based on their consistency with the firm's current investment strategy and underwriting approach, and not on the basis of performance, return, outcome, or facility size. Where a facility involved more than one lender, the total facility amount and the amount committed by Black Saddle and its affiliates are stated separately. Black Saddle may act as arranger or agent of a facility in which it holds a minority commitment.

The transactions described are provided for illustrative purposes only, and nothing herein is intended to imply that any particular result will be achieved. The specific terms of any transaction reflect the circumstances and timing of that transaction, and terms available in any other transaction may differ materially. No inference should be drawn that future transactions will have similar characteristics or achieve similar results.

No Solicitation

This website is intended to provide general information about the firm and its activities and is not directed at any person for the purpose of offering or soliciting any investment. Interests in any fund managed or advised by Black Saddle Capital Partners LLC are offered only in reliance on available exemptions from registration, only to eligible investors, and only by means of the confidential offering documents referred to below.

Jurisdictional Restrictions

The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation.

No Offer; Definitive Documents Control

Any offer or solicitation of an investment in any fund or other investment vehicle managed or advised by Black Saddle Capital Partners LLC or any of its affiliates will be made only by means of the relevant fund's or vehicle's confidential offering documents, which will contain a description of the material terms of the investment, including risk factors, conflicts of interest, fees and expenses, and other information that should be considered before making any investment decision. In the event of any conflict between information on the website and the relevant offering documents, the offering documents will control.