Investment adviser · CRD 173784

TREE LINE CAPITAL PARTNERS, LLC

Investment adviser filing (IA)

SAN FRANCISCO, CA, United States · Form ADV filed Mar 30, 2026

Regulatory AUM: $3.85B
Client accounts: 18
Employees: 30
Advisory professionals: 20

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	14	$2,774,597,045	72.1%
Other investment advisers	Fewer than 5	$1,026,887,075	26.7%
Insurance companies	Fewer than 5	$46,199,855	1.2%

Filing source

Form ADV 2075010 · Mar 30, 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

11 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.

TREE LINE DIRECT LENDING IV, LPHedge Fund · Last reported Mar 30, 2026$533MGross asset value

Form D fundraising filings

Tree Line Direct Lending IV, LP

Feeder funds

TREE LINE DIRECT LENDING IV OFFSHORE, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Custodian WESTERN ALLIANCE BANK PHOENIX, Arizona, United States Related to adviser: No

Marketer PROBITAS FUNDS GROUP, LLC SAN FRANCISCO, California, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

STATE STREET BANK AND TRUST COMPANY
LEI 54930040JC7I4R2I8K66

PROBITAS FUNDS GROUP, LLC
CRD 115876 · SEC 8-53512

Fund details & source

Fund ID: 805-7981685517
Reported beneficial owners: 26
Minimum commitment: $2M
Form D file number: 021-512214
Form D file number: 021-571535

Form ADV 2075010 · Mar 30, 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.

TREE LINE DIRECT LENDING III, LPHedge Fund · Last reported Mar 30, 2026$451MGross asset value

Form D fundraising filings

Tree Line Direct Lending III, LP

Feeder funds

TREE LINE DIRECT LENDING III OFFSHORE, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

STATE STREET BANK AND TRUST COMPANY
LEI 54930040JC7I4R2I8K66

Fund details & source

Fund ID: 805-9199784426
Reported beneficial owners: 34
Minimum commitment: $500K
Form D file number: 021-406492
Form D file number: 021-479008

Form ADV 2075010 · Mar 30, 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.

TREE LINE DIRECT LENDING IV UNLEVERED, LPHedge Fund · Last reported Mar 30, 2026$381MGross asset value

Form D fundraising filings

Tree Line Direct Lending IV Unlevered, LP

Feeder funds

TREE LINE DIRECT LENDING IV OFFSHORE UNLEVERED, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian CITY NATIONAL BANK LOS ANGELES, California, United States Related to adviser: No

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Marketer PROBITAS FUNDS GROUP, LLC SAN FRANCISCO, California, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

STATE STREET BANK AND TRUST COMPANY
LEI 54930040JC7I4R2I8K66

PROBITAS FUNDS GROUP, LLC
CRD 115876 · SEC 8-53512

Fund details & source

Fund ID: 805-4538467407
Reported beneficial owners: 11
Minimum commitment: $5M
Form D file number: 021-571532
Form D file number: 021-571537

Form ADV 2075010 · Mar 30, 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.

TREE LINE CREDIT STRATEGIES, LPHedge Fund · Last reported Mar 30, 2026$374MGross asset value

Form D fundraising filings

Tree Line Credit Strategies, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian CAPITAL ONE BANK NEW YORK, New York, United States Related to adviser: No

Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

CAPITAL ONE BANK
LEI LKE37K2B8CFZUR7F9816

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

STATE STREET BANK AND TRUST COMPANY
LEI 54930040JC7I4R2I8K66

Fund details & source

Fund ID: 805-6736932321
Reported beneficial owners: 184
Minimum commitment: $500K
Form D file number: 021-246348

Form ADV 2075010 · Mar 30, 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.

TREE LINE DIRECT LENDING II, LPHedge Fund · Last reported Mar 30, 2026$310MGross asset value

Form D fundraising filings

Tree Line Direct Lending II, LP

Fund administrator STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian CAPITAL ONE BANK NEW YORK, New York, United States Related to adviser: No

Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No

Custodian STATE STREET BANK AND TRUST COMPANY BOSTON, Massachusetts, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

CAPITAL ONE BANK
LEI LKE37K2B8CFZUR7F9816

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

STATE STREET BANK AND TRUST COMPANY
LEI 54930040JC7I4R2I8K66

Fund details & source

Fund ID: 805-5664954566
Reported beneficial owners: 15
Minimum commitment: $500K
Form D file number: 021-332300

Form ADV 2075010 · Mar 30, 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.

ENHANCED SBIC II, LPHedge Fund · Last reported Mar 30, 2026$249MGross asset value

Form D fundraising filings

Enhanced SBIC II, LP

Auditor COHNREZNICK LLP HARTFORD, Connecticut, United States

Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No

Custodian WESTERN ALLIANCE BANK SAN JOSE, California, United States Related to adviser: No

Provider details

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

COHNREZNICK LLP
PCAOB 596

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

WESTERN ALLIANCE BANK
LEI SI7YQSVPFZBSQ878IC17

Fund details & source

Fund ID: 805-7202105698
Reported beneficial owners: 35
Minimum commitment: $250K
Form D file number: 021-367712

Form ADV 2075010 · Mar 30, 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.

PPC-TL SENIOR SECONDARY LOANS, LPHedge Fund · Last reported Mar 30, 2026$245MGross asset value

Fund administrator STATE STREET & BANK TRUST CO BOSTON, Massachusetts, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG NEW ORLEANS, Louisiana, United States

Custodian STATE STREET BANK & TRUST CO. BOSTON, Massachusetts, United States Related to adviser: No

Provider details

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

ERNST & YOUNG
PCAOB 42

STATE STREET BANK & TRUST CO.
LEI 54930040JC7I4R2I8K66

Fund details & source

Fund ID: 805-6852704219
Reported beneficial owners: 8
Minimum commitment: $5M

Form ADV 2075010 · Mar 30, 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.

Services & filing details

Most recent filing: Mar 30, 2026. View historical filings

Reported services

Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

THREE EMBARCADERO CENTER, SUITE 2320
SAN FRANCISCO, CA, 94111, United States

CRD 173784

Filing source

Form ADV 2075010 · Mar 30, 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.