NPORT-EX 2 ccpsmaster123122soi_nportex.htm CYPRESS CREEK PRIVATE STRATEGIES MASTER FUND LP DECEMBER 31 2022 SCHEDULE OF INVESTMENTS

 

CYPRESS CREEK PRIVATE STRATEGIES MASTER FUND, L.P.
(A Limited Partnership)
Schedule of Investments
December 31, 2022
(Unaudited)
                       
   Geographic Region*  Initial Investment Date  Shares   Cost   Fair
 Value		   % of
Partners’
Capital		 
Private Investments Portfolio                          
Operating Companies                          
Buyout (0.50% of Partners’ Capital)                          
Milton ZXP LLC - Class A Units (4)(6)  North America  February, 2018   6,029   $602,900   $1,055,075      
Growth Equity (0.20% of Partners’ Capital)                          
Clovis Point II RIVS Investment, LLC (4)(6)  North America  March, 2019        650,000    421,300      
Venture Capital (0.00% of Partners’ Capital)                          
TasteMade, Inc. (4)  North America  April, 2016   2,582    100,000    -      
                           
Total Operating Companies              1,352,900    1,476,375    0.70%
                           
Private Investment Funds                          
Private Equity                          
Buyout (20.45% of Partners’ Capital)                          
Advent Latin American Private Equity Fund IV-F L.P.  Rest of the World  August, 2007        201,046    105,010      
Advent Latin American Private Equity Fund V-F L.P.  Rest of the World  May, 2010        1,339,621    1,078,765      
Chicago Pacific Founders Fund II, LP (1)  North America  January, 2020        3,641,731    8,928,400      
Clovis Point II, LP  North America  February, 2020        2,196,418    2,253,498      
CRC (Atria) Investment Holdings, L.P. (3)  North America  July, 2022        4,188,131    4,162,500      
Darwin Private Equity I L.P.  Europe  September, 2007        1,251,657    21,754      
Intervale Capital Fund, L.P.  North America  May, 2008        423,099    32,553      
J.C. Flowers III L.P.  Europe  October, 2009        1,163,392    200,633      
KF Partner Investments Fund III LP  North America  June, 2020        2,051,329    2,758,879      
Mid Europa Fund III LP  Europe  November, 2007        280,414    1,366      
Monomoy Capital Partners II, L.P.  North America  May, 2011        973,284    630,997      
Monomoy Capital Partners III, L.P. (1)  North America  December, 2017        1,991,775    5,208,897      
Reservoir Capital Partners (Cayman), L.P. (1)  Global  June, 2009        294,464    620,212      
Sovereign Capital Limited Partnership III  Europe  March, 2010        -    36,634      
Sterling Capital Partners II, L.P. (1)  North America  August, 2005        190,740    11,023      
Sterling Group Partners III, L.P. (1)  North America  April, 2010        1,086,131    1      
Strattam Capital Investment Fund, L.P.  North America  December, 2015        3,192,683    3,739,548      
Strattam Capital Investment Fund II, L.P.  North America  February, 2018        2,329,660    3,565,682      
Strattam Capital Investment Fund III, L.P. (2)  North America  March, 2022        2,406,751    2,387,853      
Strattam Co-Invest Fund V, L.P.  North America  December, 2018        -    717,896      
Strattam Co-Invest Fund VI, L.P.  North America  December, 2018        725,757    901,283      
Strattam Co-Invest Fund VII, L.P.  North America  September, 2019        413,727    760,533      
Trivest Fund IV, L.P.  North America  November, 2007        12,230    7,215      
Viburnum Equity 4, LP (1)(2)  Rest of World  January, 2022        5,880,593    5,454,012      
Growth Equity (9.08% of Partners’ Capital)                          
Catterton Growth Partners, L.P.  North America  March, 2008        1,929,339    576,814      
Crosslink Crossover Fund V, L.P.  North America  May, 2007        316,468    100,130      
Crosslink Crossover Fund VI, L.P.  North America  March, 2007        -    3,292,298      
CX Partners Fund Ltd. (1)  Asia  April, 2009        1,163,083    53,000      
Gavea Investment Fund II A, L.P.  Rest of the World  May, 2007        -    7,771      
Gavea Investment Fund III A, L.P.  Rest of the World  September, 2008        -    35,140      
HealthCor Partners Fund, L.P.  North America  August, 2007        268,263    478,584      
New Horizon Capital III, L.P. (1)  Asia  March, 2009        188,127    -      
NGP Energy Technology Partners II, L.P. (1)  North America  July, 2009        719,372    328,401      
Northstar Equity Partners III (1)  Asia  June, 2011        552,588    341,773      
Orchid Asia IV, L.P. (1)  Asia  November, 2007        887,156    243,788      
Pine Brook Capital Partners, L.P. (1)  North America  January, 2008        1,748,932    263,471      
Pinto America Growth Fund, L.P.  North America  July, 2006        -    19,153      
Private Equity Investment Fund V, L.P.  North America  April, 2009        5,677,931    3,208,604      
Saints Capital VI, L.P.  North America  April, 2008        1,659,216    414,150      
Trustbridge Partners II, L.P. (1)  Asia  December, 2007        1,043,997    676,091      
Trustbridge Partners III, L.P.  Asia  April, 2009        3,246,506    2,109,118      
Trustbridge Partners IV, L.P. (1)  Asia  September, 2011        -    2,961,948      
Trustbridge Partners V, L.P. (1)  Asia  November, 2015        4,346,526    4,246,805      
Private Debt (9.68% of Partners’ Capital)                          
ABRY Advanced Securities Fund, L.P.  North America  August, 2008        -    7,832      
Alloy Merchant Partners, L.P. (1)(2)  Rest of the World  August, 2018        803,860    495,469      
Armadillo Litigation Finance II  North America  February, 2016        -    41,873      
Aviator Capital Fund IV US Feeder, L.P.  Global  March, 2019        2,230,278    2,607,302      
Aviator Capital Mid-Life Us Feeder Fund, LP  Global  December, 2016        1,949,929    2,861,818      
BDCM Opportunity Fund II, L.P.(1)  North America  March, 2006        501,444    103,616      
Colbeck Strategic Lending Onshore Feeder, LP (1)(2) North America  March, 2017        3,930,533    3,830,081      
Crestline Opportunities Fund III, LLC (1)  North America  August, 2016        2,169,895    3,455,520      
Freedom Participation Partners I, LLC (1)  North America  July, 2016        1,247,460    36,837      
Garrison Opportunity Fund II A LLC  Global  March, 2011        -    10,786      

 

 

Garrison Opportunity Fund LLC    Global  February, 2010        -    10,327      
ILS Property & Casualty Master Fund Ltd.  North America  November, 2014        1,523,944    14,950      
India Asset Recovery Fund L.P.  Asia  October, 2006        -    322      
MatlinPatterson Global Opportunities Partners III, L.P.  North America  July, 2007        865,334    5,423      
Parabellum Partners I, LP (1)  North America  August, 2017        1,271,280    2,616,002      
Parabellum Partners II, LP (1)  North America  August, 2019        2,753,053    2,927,423      
Rosebrook 2018 Co-Invest I, L.P. (3)  Rest of World  January, 2018        1,023,648    1,149,255      
Strategic Value Global Opportunities Fund I-A, L.P.  Europe  December, 2006        28,951    145,456      
Tuckerbrook SB Global Distressed Fund I, L.P.  Global  July, 2007        102,897    295,790      
Venture Capital (11.84% of Partners’ Capital)                          
Artis Ventures II, L.P.  North America  November, 2014        1,085,752    2,208,385      
Chrysalis Ventures III, L.P.  North America  December, 2006        208,572    95,807      
Dace Ventures I, LP  North America  June, 2007        347,577    149,291      
Fairhaven Capital Partners, L.P.  North America  March, 2008        1,556,314    348,641      
Founders Fund III, LP  North America  May, 2010        -    4,433,918      
Founders Fund IV, LP  North America  January, 2012        -    5,937,921      
LC Fund IV, L.P.  Asia  May, 2008        1,375,042    63,747      
Sanderling Venture Partners VI, L.P.  North America  June, 2005        94,987    69,727      
Sanderling Venture Partners VI Co-Investment Fund, L.P.  North America  June, 2005        210,432    90,193      
Tenaya Capital V, LP (1)  North America  November, 2007        24,309    85,518      
Tenaya Capital VI, LP  North America  July, 2012        828,830    1,014,362      
The Column Group, LP  North America  September, 2007        966,337    1,463,736      
The Column Group II, LP  North America  October, 2014        1,934,154    4,394,702      
The Column Group III, LP  North America  May, 2016        3,041,477    3,251,611      
Tiger Global Private Investment Partners V, L.P.  Asia  January, 2008        1,219,100    1,074,626      
Tiger Global Private Investment Partners VI, L.P.  Asia  November, 2010        -    483,220      
Voyager Capital Fund III, L.P.  North America  May, 2007        286,772    75,383      
                           
Total Private Equity  (6)              93,564,298    108,799,053    51.05%
                           
Real Assets                          
Infrastructure (6.73% of Partners’ Capital)                          
Allied Strategic Partners Fund I-A, LP (3)  North America  August, 2021        9,981,768    9,470,890      
EIV Capital Fund II, LP (1)  North America  December, 2014        2,851,236    2,568,257      
EnCap Energy Infrastructure TE Feeder, L.P. (1)  North America  October, 2009        965,782    68,602      
Haddington Energy Partners III, L.P.  North America  April, 2017        604,735    1,567,324      
TPF II-A, L.P.  North America  October, 2008        1,213,282    18,813      
YTM6, LLC  North America  November, 2022        647,214    647,214      
Natural Resources (11.54% of Partners’ Capital)                          
EMG Iron Ore Holdco, LP  North America  April, 2019        476,106    764,113      
EnCap Energy Capital Fund VII-B LP (1)  North America  October, 2007        1,450,085    -      
Energy & Minerals Group Fund II, L.P. (1)  North America  November, 2011        2,295,341    2,474,724      
Merit Energy Partners G, L.P. (1)  North America  September, 2009        2,931,026    1,432,970      
Midstream & Resources Follow-On Fund, L.P. (1) Rest of World  March, 2010        518,415    577,131      
NGP IX Offshore Fund, L.P.  North America  March, 2008        613,572    35,505      
NGP Midstream & Resources, L.P.  Rest of World  October, 2007        976,239    118,249      
Quantum Parallel Partners V, LP  North America  October, 2008        3,709,753    3,783,950      
Sentient Global Resources Fund III, L.P.  Rest of World  July, 2008        2,568,145    657,212      
Sentient Global Resources Fund IV, L.P. (1)  Rest of World  June, 2011        1,833,312    542,008      
Tembo Capital Co-Investment Partners I, LP (3)  Rest of the World  July, 2022        6,356,119    5,436,415      
Tembo Capital Mining Fund III LP  Global  October, 2021        4,616,902    3,904,933      
Vortus Investments II, LP  North America  August, 2017        1,818,828    2,819,378      
Vortus Investments, LP  North America  January, 2016        3,434,387    2,048,469      
Real Estate (4.80% of Partners’ Capital)                          
Benson Elliot Real Estate Partners II, L.P.  Europe  August, 2006        349,758    4,795      
Forum European Realty Income III, L.P.  Europe  February, 2008        820,961    62,274      
GTIS Brazil Real Estate Fund (Brazilian Real) LP  Rest of the World  July, 2008        1,207,519    635,710      
Kayne Anderson Real Estate Debt II, L.P. (1)  North America  July, 2017        78,488    -      
Kayne Anderson Real Estate Debt, L.P. (1)  North America  June, 2016        111,730    -      
Lone Star Real Estate Fund II (U.S.), L.P.  Global  June, 2011        58    4,018      
Monsoon Infrastructure & Realty Co-Invest, L.P.  Asia  February, 2008        1,560,996    1,202,979      
Northwood Real Estate Co-Investors LP (1)  North America  April, 2008        333,739    472,428      
Northwood Real Estate Partners LP (1)  North America  April, 2008        1,133,502    1,405,165      
ORBIS Real Estate Fund I (2)  Asia  November, 2006        1,969,703    360,537      
Patron Capital, L.P. II  Europe  February, 2005        123,803    1,940      
Patron Capital, L.P. III  Europe  July, 2007        598,435    38,201      
Pennybacker IV, LP  North America  February, 2018        950,599    744,544      
Phoenix Asia Real Estate Investments II, L.P.  Asia  September, 2007        823,410    598,593      
Prescott Strategies Fund I LP  North America  June, 2019        2,232,449    2,162,443      
Red Dot Holdings III, LP (1)(2)  North America  February, 2019        2,790,773    2,474,458      
SBC US Fund II, LP  Rest of the World  June, 2011        789,902    59,786      
                           
Total Real Assets (6)              65,738,072    49,164,028    23.07%
                           
Total Private Investments Portfolio              160,655,270    159,439,456    74.82%

 

 

Cash Management Portfolio                          
Hedge Funds                          
Event Driven (0.46% of Partners’ Capital)                          
BDCM Partners I, L.P.  North America  January, 2011        1,364,736    974,689      
Fortelus Special Situations Fund Ltd.  Global  May, 2010        -    1,824      
Global Macro (2.62% of Partners’ Capital)                          
GAM Systematic Core Macro (Cayman) Fund LP  Global  February, 2015        3,500,000    5,594,231      
Relative Value (13.70% of Partners’ Capital)                          
Anomaly Capital, LP  Global  July, 2021        15,003,000    16,551,512      
King Street Capital, L.P.  North America  November, 2009        2,709    36,343      
Magnetar Capital Fund LP  North America  February, 2009        -    45,304      
Middle East North Africa Opportunities Fund, L.P.  Rest of World  July, 2008   728    728,344    4,001      
PIPE Equity Partners, LLC (2) (4)  North America  August, 2008        3,252,147    -      
PIPE Select Fund, LLC (2) (4)  North America  September, 2008        2,866,761    -      
Stark Select Asset Fund, LLC  Rest of World  July, 2010        -    11,155      
STS Partners Fund, LP  North America  November, 2016        2,108,191    5,480,343      
The 1609 Fund Ltd.  Global  January, 2018   3,345    4,011,531    1,705,463      
Valiant Capital Partners LP  North America  July, 2009        369,529    341,755      
WMA Systematic Equity Alpha Long/Short Onshore Fund LP - Class A  Global  August, 2022        5,004,000    5,014,177      
                           
Total Hedge Funds (6)              38,210,948    35,760,797    16.78%
                           
Total Private Investment Funds              131,775,246    144,559,850    90.90%
                           
Other Securities                          
Securities (0.43% of Partners’ Capital)                          
Regatta XV Funding Ltd., Subordinated Note, Principal $5,000,000, 6.74%, due 10/1/2031 (1)(5)(7) North America  October, 2018        3,118,300    925,000      
                           
Total Other Liquid Securities              3,118,300    925,000    0.43%
                           
Total Cash Management Portfolio              41,329,248    36,685,797    17.21%
                           
Total Investments             $201,984,518   $196,125,253    92.03%

 

The Master Fund’s total outstanding capital commitments to Investment Funds as of December 31, 2022 were $68,637,382. For certain Investment Funds for which the Master Fund has a capital commitment, the Master Fund may be allocated its pro-rata share of expenses prior to having to fund a capital call for such expenses.

 

All investments are non-income producing unless noted otherwise.

 

 

*The “Rest of World” geographic region represents an investment strategy to make investments domiciled outside of Asia, Europe or North America. The “Global” geographic region represents an investment strategy to make investments domiciled in various locations throughout the world including Asia, Europe, North America and/or the rest of the world.

(1)Income producing investment.

(2)Affiliated investments for which ownership exceeds 5% of the investment's capital.

(3)Affiliated investments for which ownership exceeds 25% of the investment's capital.

(4)Valued in good faith pursuant to procedures approved by the Board of Directors as of December 31, 2022. The total of all such investments represents 0.69% of partners' capital.

(5)CLO subordinated notes are considered CLO equity positions. CLO equity positions are entitled to recurring distributions which are generally equal to the remaining cash flow of payments made by underlying securities less contractual payments to debt holders and fund expenses. The effective yield for the CLO equity position will generally be updated periodically or on transactions such as an add-on purchases, refinancing or reset. The estimated yield and investment cost may ultimately not be realized.

(6)Restricted investments as to resale.

(7)Security exempt from registration under Rule 144A of the Securities Act of 1933. The Security may be sold in transactions exempt from registration, normally to qualified institutional buyers.