Operating partners are independent contractors and are not employees of Avathon Capital Management LP or its affiliates and are therefore not part of Avathon’s compliance program.  Operating partners are engaged to provide operational support, specialized operations, and consulting services to or in connection with funds managed by Avathon or portfolio companies in connection with the identification, acquisition, holding, improvement and disposition of such portfolio companies.  These services may include support to single investment vehicles, Avathon managed funds or their portfolio companies regarding, among other things, the portfolio company’s management, supply chain, revenue, finance, human capital management, IT, regulatory matters, and similar operational matters.