Investment adviser · CRD 158068

LANCASTER INVESTMENT MANAGEMENT LLP

Investment adviser filing (IA)

LONDON, United Kingdom · Form ADV filed Jun 16, 2026

Regulatory AUM: $2.06B
Client accounts: 4
Employees: 18
Advisory professionals: 14

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	4	$2,062,601,290	100.0%

Filing source

Form ADV 2111347 · Jun 16, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

7 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

LANCASTER EUROPEAN EQUITY MASTER LIMITEDHedge Fund · Last reported Jun 16, 2026$1.43BGross asset value

Feeder funds

LANCASTER EUROPEAN EQUITY LIMITED
LANCASTER EUROPEAN EQUITY LP

Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LIMITED GEORGE TOWN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG GRAND CAYMAN, Cayman Islands

Custodian GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom Related to adviser: No

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom

Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States

Prime broker UBS AG LONDON, United Kingdom

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG
PCAOB 1655

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-1878834196
Reported beneficial owners: 36
Minimum commitment: $5M

Form ADV 2111347 · Jun 16, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

LANCASTER EUROPEAN LS EQUITY MASTER LIMITEDHedge Fund · Last reported Jun 16, 2026$348MGross asset value

Feeder funds

LANCASTER EUROPEAN LS EQUITY LIMITED

Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LIMITED GEORGE TOWN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG GRAND CAYMAN, Cayman Islands

Custodian GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom Related to adviser: No

Custodian MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom Related to adviser: No

Custodian UBS AG LONDON, United Kingdom Related to adviser: No

Prime broker GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom

Prime broker MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom

Prime broker UBS AG LONDON, United Kingdom

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG
PCAOB 1655

Fund details & source

Fund ID: 805-1558065651
Reported beneficial owners: 35
Minimum commitment: $5M

Form ADV 2111347 · Jun 16, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

LANCASTER ABSOLUTE RETURN FOCUS FUNDHedge Fund · Last reported Jun 16, 2026$204MGross asset value

Feeder funds

LANCASTER ABSOLUTE RETURN FOCUS FEEDER FUND

Fund administrator U.S. BANK GLOBAL FUND SERVICES (IRELAND) LTD DUBLIN, Ireland Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor DELOITTE IRELAND LLP DUBLIN, Ireland

Custodian ELAVON FINANCIAL SERVICES DAC DUBLIN, Ireland Related to adviser: No

Prime broker GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom

Prime broker MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

DELOITTE IRELAND LLP
PCAOB 1193

Fund details & source

Fund ID: 805-3972210968
Reported beneficial owners: 36
Minimum commitment: $1M

Form ADV 2111347 · Jun 16, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

LANCASTER BRANDS AND RETAIL EQUITY MASTER FUND LTDHedge Fund · Last reported Jun 16, 2026$78.5MGross asset value

Feeder funds

LANCASTER BRANDS AND RETAIL EQUITY FUND LTD

Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LIMITED GEORGE TOWN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG GEORGE TOWN, Cayman Islands

Custodian CITIGROUP GLOBAL MARKETS LTD LONDON, United Kingdom Related to adviser: No

Prime broker CITIGROUP GLOBAL MARKETS LTD LONDON, United Kingdom

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG
PCAOB 1655

Fund details & source

Fund ID: 805-5870123695
Reported beneficial owners: 4
Minimum commitment: $5M
Form D file number: 021-514981

Form ADV 2111347 · Jun 16, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

LANCASTER GLOBAL LS EQUITY MASTER LIMITEDHedge Fund · Last reported May 18, 2021$332MGross asset value

Feeder funds

LANCASTER GLOBAL LS EQUITY LIMITED
LANCASTER GLOBAL LS EQUITY LP

Fund administrator MORGAN STANLEY FUND SERVICES (CAYMAN) LIMITED GEORGE TOWN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG GRAND CAYMAN, Cayman Islands

Custodian GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom Related to adviser: No

Custodian MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom Related to adviser: No

Prime broker GOLDMAN SACHS INTERNATIONAL LONDON, United Kingdom

Prime broker MORGAN STANLEY & CO INTERNATIONAL PLC LONDON, United Kingdom

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

KPMG
PCAOB 1323

Fund details & source

Fund ID: 805-1404519556
Reported beneficial owners: 38
Minimum commitment: $10M

Form ADV 1541433 · May 18, 2021 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

LANCASTER EUROPEAN LS EQUITY BPI LIMITEDHedge Fund · Last reported May 24, 2019$251MGross asset value

Fund administrator MORGAN STANLEY FUND SERVICES (BERMUDA) LIMITED HAMILTON, Bermuda Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG GRAND CAYMAN, Cayman Islands

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

KPMG
PCAOB 1323

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-6881426480
Reported beneficial owners: 3
Minimum commitment: $10M

Form ADV 1322967 · May 24, 2019 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

PM MANAGER FUND, SPC. - SEGREGATED PORTFOLIO 15Hedge Fund · Last reported Jan 25, 2016$184MGross asset value

Form D fundraising filings

PM Manager Fund, SPC - Segregated Portfolio 15

Fund administrator MORGAN STANLEY FUND SERVICES (BERMUDA) LTD HAMILTON, Bermuda Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor DELOITTE LLP GRAND CAYMAN, Cayman Islands

Custodian MORGAN STANLEY & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Prime broker MORGAN STANLEY & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

MORGAN STANLEY & CO. LLC
SEC 8-15869

MORGAN STANLEY & CO. LLC
CRD 8209 · SEC 8-15869

Fund details & source

Fund ID: 805-1335037399
Reported beneficial owners: 22
Minimum commitment: $250K
Form D file number: 021-134452

Form ADV 971725 · Jan 25, 2016 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Jun 16, 2026. View historical filings

Reported services

Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

152-156 GREAT PORTLAND STREET
LONDON, W1W 5QA, United Kingdom

CRD 158068

Filing source

Form ADV 2111347 · Jun 16, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.