CBC IOS Fund II, LP

The absence of prior EDGAR filings from this manager indicates CBC IOS is either newly registered, operating below historical SEC filing thresholds, or operating through a different legal entity; the 06b exemption (no public solicitation) confirms this is a pre-existing relationship vehicle, meaning the manager is leveraging its existing LP base rather than conducting a broad market raise, typical of managers with concentrated LP groups or long-tenure relationships.

Filing in May 2026 positions this raise in the late-cycle phase of the 2024–2025 fundraising window, when follow-on funds from emerging managers typically close their placeholders as market sentiment and LP allocation windows narrow; this timing suggests CBC IOS benefited from Fund I performance or LP commitment momentum and is locking in intents before H2 2026 market volatility.

Verify whether T. Sturges III holds a key-man clause with either hard or soft suspension triggers, as a two-person GP structure concentrates operational and investment decision-making; also confirm Fund I's vintage year, deployment status, and any distributed proceeds, as these directly inform whether Fund II is a continuity vehicle or a pivot, and whether LPs from Fund I have pre-emptive rights.