Valor Management LLC

Valor CI Blocker Feeder L.P.

The feeder-blocker structure pools LP capital into a master fund while insulating ERISA and tax-exempt investors from unrelated business taxable income (UBTI)—a configuration that signals the underlying master strategy involves either operating company investments, portfolio company management fees, or other activities that generate UBTI, making this vehicle essential for pension and endowment participation rather than optional.