GROWABILITY EQUITY OIL & GAS FUND III & IV, LIMITED PARTNERSHIP

Kevin Anderson's solo GP position combined with zero prior EDGAR filings indicates this manager operates outside the mainstream institutional PE/VC ecosystem, raising instead through private placement channels or fund-of-funds structures; the 06c exemption (for advisers under $150M AUM) confirms this is a smaller, privately-managed operation rather than a registered advisory platform.

The May 2026 filing timing aligns with renewed upstream M&A activity and energy sector recovery narratives that typically drive LP appetite for oil & gas equity; however, $5M target sizing suggests Anderson is either consolidating a regional deal flow or testing LP appetite before a larger raise, not capitalizing on peak institutional capital availability in the sector.

Verify whether Kevin Anderson maintains a key-person clause tied to his continued management, and confirm whether Funds III and IV have separate fee schedules and LPA terms or operate as a single vehicle with bifurcated capital tracks—this affects both ongoing GP incentive alignment and the LP's exit optionality if the manager becomes unavailable.