NORTHRIM ADVISER, LLC

Thesis

Northrim Adviser, LLC is an investment advisory firm based in Mesa, Arizona, managing $521.9 million in assets primarily for pooled investment vehicles. The firm operates on an asset-based and performance-based fee structure. While Northrim Adviser, LLC's specific sector and stage preferences are not detailed, its affiliate, Northrim Horizon, focuses on acquiring and operating profitable, recurring revenue businesses in business and consumer services, healthcare services, and software and tech-enabled services. Northrim Horizon utilizes a 'buy, build and compound strategy' with a long-term capital compounding approach, aiming to purchase smaller companies and grow them over decades. This strategy suggests a preference for mature, cash-generative businesses with EBITDA between $1 million and $5 million. Northrim Bank, another affiliate, provides funding to businesses and has an interest in Pacific Wealth Advisors, LLC.