KCP MGP, LLC

With no prior EDGAR filings under this manager's name, this is a debut vehicle; the single-GP structure and 06b exemption signal a first-time or emerging manager raising from a closed network rather than a broad LP base, which constrains capital availability but eliminates marketing overhead.

A June 2026 amendment filing for a $9M PE fund in a period of elevated dry powder and compressed fund sizes suggests Ades is targeting a niche or regional market where smaller checks remain viable—or is backfilling a continuation strategy after an earlier vintage proved difficult to scale.

Before committing, verify whether this amendment altered the management fee structure, clawback terms, or key-person definition, as first-time GPs often tighten these provisions in response to initial LP feedback; also confirm whether Daniel Ades has operational control or is co-managing with another party not listed on the cover page.