California Privacy Notice

1.    Introduction

This notice (the “California Privacy Notice”) supplements the General Privacy Notice set forth above with respect to specific rights granted under the California Consumer Privacy Act of 2018, as amended, together with any implementing and successor legislation to the foregoing (the “CCPA”) to natural person California residents and provides information regarding how such California residents can exercise their rights under the CCPA. This California Privacy Notice is only relevant to you if you are a resident of California as determined in accordance with the CCPA.  Information required to be disclosed to California residents under the CCPA regarding the collection of their personal information that is not set forth in this California Privacy Notice is otherwise set forth above in the Privacy Notice.  To the extent there is any conflict with the privacy requirements under the Gramm-Leach-Bliley Act and/or Regulation S-P (“GLB Rights”), GLB Rights shall apply.

2.    Categories of Personal Information Collected 

The Authorised Entities collect or have collected within the last twelve (12) months some or all of the following categories of personal information from individuals:

Category	Examples	Collected
A. Identifiers	Name, contact details and address (including physical address, email address and Internet Protocol address), and other identification (including social security number, passport number and driver’s license or state identification card number).	YES
B. Personal information categories listed in the California Customer Records statute (Cal. Civ. Code § 1798.80(e))	Telephone number, signature, bank account number, other financial information (including accounts and transactions with other institutions and anti-money laundering information), and verification documentation and information regarding investors’ status under various laws and regulations (including social security number, tax status, income, and assets).	YES
C. Protected classification characteristics under California or federal law	Date of birth, citizenship, and birthplace.	YES
D. Commercial information	Account data and other information contained in any document provided by investors to authorized service providers (whether directly or indirectly), risk tolerance, transaction history, investment experience and investment activity, information regarding a potential and/or actual investment in the applicable fund(s), including ownership percentage, capital investment, income and losses, source of funds used to make the investment in the applicable fund(s).	YES
E. Biometric information	Imagery of the iris, retina, fingerprint, face, hand, palm, vein patterns and voice recordings or keystroke patterns or rhythms, gait patterns or rhythms, and sleep, health, or exercise data that contains identifying information.	NO
F. Internet or other similar network activity	Use of our website, fund data room and investor reporting portal (e.g., cookies, browsing history and/or search history), as well as information you provide to us when you correspond with us in relation to inquiries	YES
G. Geolocation data	Physical location or movements.	NO
H. Sensory data	Audio, electronic, visual, thermal, olfactory, or similar information	NO
I. Professional or employment-related information	Current or past job history or performance evaluations.	NO
J. Non-public education information (per the Family Educational Rights and Privacy Act (20 U.S.C. Section 1232g, 34 C.F.R. Part 99))	Education records directly related to a student maintained by an educational institution or party acting on its behalf, such as grades, transcripts, class lists, student schedules, student identification codes, student financial information, or student disciplinary records.	NO
K. Inferences drawn from other personal information	Profile reflecting a person’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes.	NO
L. Sensitive Personal Information (see further information on use of sensitive personal information below)	Social security, driver’s license, state identification card, or passport numbers; account log-in, financial account, debit card, or credit card number in combination with any required security or access code, password, or credentials allowing access to an account; precise geolocation; racial or ethnic origin; religious or philosophical beliefs; union membership; genetic data; the contents of a consumer’s mail, email, and text messages unless you are the intended recipient of the communication; biometric information for the purpose of uniquely identifying a consumer; and personal information collected and analyzed concerning a consumer’s health, sex life, or sexual orientation.	YES, as to the following types of information: social security, driver’s license, state identification card, or passport numbers, account log-in, financial account in combination with any required security or access code password, or credentials allowing access to an account only.

The Authorised Entities do not collect or use sensitive personal information other than:

a) To perform services, or provide goods, as would reasonably be expected by an average consumer who requests those goods or services;

b)  As reasonably necessary and proportionate to detect security incidents that compromise the availability, authenticity, integrity, and confidentiality of stored or transmitted personal information;

c) As reasonably necessary and proportionate to resist malicious, deceptive, fraudulent, or illegal actions directed at us and to prosecute those responsible for such actions;

d) For short-term, transient use (but not in a manner that discloses such information to another third party or is used to build a profile of you or otherwise alter your experience outside of your current interaction with us);

e) To perform services on behalf of our business; 

f) To verify or maintain the quality or safety of a service or to improve, upgrade, or enhance such service or device; and

g) To collect or process sensitive personal information where such collection or processing is not for the purpose of inferring characteristics about a consumer.

 

3. Purposes for Collecting Personal Information 

The applicable Authorised Entities process the personal data for the following purposes (each, a “Purpose” and collectively, the “Purposes”):

(a) identity verification for the purpose of assessing suitability of investors in the Partnership, preventing fraud or other financial crime, complying with statutory and regulatory requirements in relation to anti-money laundering, “know-your-client”, terrorist financing requirements and other related laws and regulations, as well as the Partnership’s own in house procedures. Such use is (i) necessary to perform obligations under the Subscription Agreement and to comply with legal obligations such as anti-money laundering laws and regulations, (ii) necessary for the Authorised Entities’ legitimate interests in preventing, detecting, investigating and prosecuting fraud and/or other criminal activity, and managing risks;

(b) meeting the legal, regulatory, reporting and/or financial obligations of the Partnership (including purposes ancillary to the management and operation of the Partnership and/or any of its investments) or of any data processor or service provider of the Partnership including complying with requests from, and requirements of, local or foreign regulatory or law enforcement authorities, tax identification and reporting as applicable. Such processing is (i) necessary to ensure compliance with legal obligations, (ii) necessary for the Authorised Entities’ legitimate interests in preventing, detecting, investigating and prosecuting fraud and/or other criminal activity, managing risks and conducting business;

(c)  assessing and processing the investor’s application, administering the investor’s investment in the Partnership, including receiving payments and making payments, managing and setting up investor account(s) to allow investors to purchase a holding (of shares or other interests) in the Partnership (and any other funds operated by the General Partner or its affiliates) and communicating with the investors, their representatives, advisors and agents, (including the negotiation, preparation and execution of documentation) during the process of admitting investors to the Partnership and as necessary in connection with its affairs and generally in connection with their investment. Such processing is (i) necessary to perform obligations under the Subscription Agreement and/or the Partnership Agreement, (ii) necessary for the Authorised Entities’ legitimate interests in conducting their business;

(d) administering the business of the Partnership in an efficient and proper manner, including the administrative processes (and related communication) carried out between the Authorised Entities in preparing for the admission of investors to the Partnership. Such processing is necessary to perform obligations under the Subscription Agreement and/or the Partnership Agreement;

(e)  conducting the ongoing administrative, accounting, reporting and other processes and communication required to operate the business of the Partnership including conducting  audits, implementing risk management processes, corporate governance, maintaining and monitoring IT systems (including any websites, fund data rooms, and/or investor reporting portals) of the Authorised Entities (as applicable) and management of third party service providers  in accordance with the Partnership Agreement and/or other applicable documentation between the parties. Such processing is necessary (i) pursuant to applicable legal obligations; (ii) as a matter of contractual necessity; (iii) for the Authorised Entities’ legitimate interests in managing risks and in the efficient management of the business;

(f)  facilitating the execution, continuation or termination of the contractual relationship between investors and the General Partner, the Partnership and/or any other Authorised Entities (as applicable). Such processing is (i) necessary to perform obligations under the Subscription Agreement and/or the Partnership Agreement, (ii) necessary for the Authorised Entities’ legitimate interests in conducting their business;

(g)  enabling any actual or proposed assignee or transferee, participant or sub-participant of the Partnership of the Partnership’s rights or obligations to evaluate proposed transactions. Such processing is (i) necessary to perform obligations under the Subscription Agreement and/or the Partnership Agreement, (ii) necessary for the Authorised Entities’ legitimate interests in conducting their business;

(h) facilitating business asset transactions involving the Authorised Entities and/or the Authorised Entities’ related vehicles and/or including due diligence carried out by any third party that acquires, or is interested in acquiring or securitising, all or part of the Authorised Entities’ assets or shares, or that succeeds to it in carrying on all or a part of its businesses, or services provided to it, whether by merger, acquisition, financing, reorganisation or otherwise. Such processing is necessary for the Authorised Entities’ legitimate interests; 

(i)  any legal or regulatory requirement. Such processing is necessary (i) pursuant to applicable legal obligations; (ii) for the Authorised Entities’ legitimate interests in conducting their business;

(j)  detecting, investigating and preventing internal and external breaches of internal policy and applicable law and regulation and establishing, exercising and defending legal rights. Such processing is necessary for the Authorised Parties’ legitimate interests in managing risks and in the efficient management of the business; and

(k) obtaining or seeking to obtain a reduced rate of, or exemption from, any applicable tax (including withholding tax). Processing investors’ personal data for such purpose is necessary for the Authorised Entities’ legitimate interests in order to achieve the aforementioned purpose on behalf of the Partnership and its investors; and

(l)  contacting the investor with information about the General Partner’s, the Partnership’s and their respective affiliates’ own similar products and services which may be of interest to the investor, including offering opportunities to make investments other than in the Partnership, unless the investor has refused or opted out of receiving this information by checking the box next to the signature block in the Subscription Agreement or the investor has later indicated not to receive communications in this manner. The investor may at any time opt out of receiving such communications by clicking the unsubscribe link included in all emails received or by contacting: conor.paur@bregal.com and shea@sagemount.com. Such processing is necessary for the Authorised Entities’ legitimate interests.

There may be other occasions where personal data is processed for purposes which will be explained at that time. The relevant Authorised Entities will provide further notice to the investor of any additional processing and, if required, ask for the investor’s consent to such processing.

The Authorised Entities may monitor communications where the law requires them to do so.  The Authorised Entities may also monitor communications, where permitted to do so, to protect their respective businesses and the security of their respective systems.

We collect personal information from the sources set forth in “Sources of Information” in the General Privacy Notice above. We retain the categories of personal information set forth above in “Categories of Personal Information Collected” section of this California Privacy Notice only as long as is reasonably necessary for those purposes set forth above, except as may be required under applicable law, court order or government regulations.

4. Disclosure of Information 

We do not share for the purpose of cross-context behavioral advertising or sell (as such terms are defined in the CCPA) any of the personal information we collect about you to third parties.

5. Rights under the CCPA

Subject to the CCPA, the investor or the data subject to whom personal data relates, has certain rights under the CCPA, including:

a) Deletion Rights: You have the right to request that we delete any of your personal information that we retain, subject to certain exceptions, including, but not limited to, our compliance with U.S., state, local and non-U.S. laws, rules and regulations. We will notify you in writing if we cannot comply with a specific request and provide an explanation of the reasons.

b) Disclosure and Access Rights: You have the right to request that we disclose to you certain information regarding our collection, use, disclosure and sale of personal information specific to you over the last twelve (12) months.  Such information includes:

• The categories of personal information we collected about you;
• The categories of sources from which the personal information is collected;
• Our business or commercial purpose for collecting such personal information;
• Categories of third parties to whom we disclose the personal information;
• The specific pieces of personal information we have collected about you; and
• Whether we disclosed your personal information to a third party, and if so, the categories of personal information that each recipient obtained.                          

c) Correction Right: You have the right to request that we correct any inaccuracies in the personal information that we retain, subject to certain statutory exceptions, including, but not limited to, our compliance with U.S. state, local and non-U.S. laws, rules and regulations. We will notify you in writing if we cannot comply with a specific request and provide an explanation of the reasons.

d) No Discrimination: We will not discriminate against you for exercising your rights under the CCPA, including by denying service, suggesting that you will receive, or charging, different rates for services or suggesting that you will receive, or providing, a different level or quality of service to you.

To exercise any of your rights under the CCPA, or to access this California Privacy Notice in an alternative format, please submit a request using the methods set forth below.

Submit a request online at sagemount.com, where you can also find this privacy notice.

If you would like to contact us by telephone without incurring telephone charges, please submit your request and telephone number by email at the provided email address below, and we will call you between normal business hours. We will contact you to confirm receipt of your request under the CCPA and request any additional information necessary to verify your request.  We verify requests by matching information provided in connection with your request to information contained in our records.  Depending on the sensitivity of the request and the varying levels of risk in responding to such requests (for example, the risk of responding to fraudulent or malicious requests), we may request your investor portal access credentials, if applicable, in order to verify your request.  You may designate an authorized agent to make a request under the CCPA on your behalf, provided that you provide a signed agreement verifying such authorized agent’s authority to make requests on your behalf, and we may verify such authorized person’s identity using the procedures above.  If we request you verify your request and we do not receive your response, we will pause processing your request until such verification is received.

Please contact us at conor.paur@bregal.com with any questions or concerns about this California Privacy Notice/Policy.