1: Capital Under Management and Administration (“CUMA”) is defined as the sum of (i) for actively investing advised accounts (i.e., funds and separately managed accounts) and contract investor programs (either self-directed or managed by a third party), the total equity commitments and, with respect to such actively investing advised accounts, maximum leverage limits per the limited partnership agreement or other governing document of such accounts as of June 30, 2021, plus (ii) for advised accounts or contract investor programs that are no longer investing, without duplication, total outstanding principal balance of loans and loan commitments held by such vehicles as of June 30, 2021, plus (iii) for the consolidated Antares balance sheet, the sum of total outstanding principal balance of loans and loan commitments held thereby for investment, including investment securities (i.e. equity tags), cash, restricted cash and cash equivalents as of June 30, 2021. CLOs are consolidated entities within the Antares balance sheet and represented $7.9B of CUMA as of June 30, 2021. For purposes of the foregoing clause (i), the maximum leverage limit included herein may be different than the actual amount of leverage applied in the case of any given account. Please contact Antares if you have any questions. For the avoidance of doubt, CUMA is not intended to be the same as (and is calculated differently as compared to) Antares Capital Advisers LLC’s regulatory assets under management, as reported under Item 5.F on Part 1 of Form ADV.
2: Lead arranger role includes transactions where Antares was lead-left arranger, right-lead arranger and/or admin agent. Based on origination deal count and volume between August 21, 2015 – June 30, 2021.