Downstream Perennial Master Fund LP

Downstream Perennial Master Fund LP is reported as a hedge fund in Form ADV private-fund disclosures. The adviser is Downstream Perennial Management LLC, based in Cayman Islands.

General hedge fund $25M to $100M $1M to $5M minimum

$42.6Mgross assets

$1.0Mminimum

5owners

3(c)(7)exemption

Disclosure fields

Fund facts

SEC private fund ID805-2591282924

Reference ID313984

JurisdictionCayman Islands

Fund of fundsNo

Master fundYes

Feeder fundNo

Non-US ownership0%

Assets valued100%

Annual auditYes

GAAPYes

Source periodMarch 2026

Date submitted03/18/2026

Adviser

Downstream Perennial Management LLC

TypeExempt reporting adviser

SEC number802-127068

CRD324112

Regulatory AUM$42.6M

Compliance signals

Exempt from registration Sales limitation not marked Prime brokers reported Custodians reported

Service providers

Reported counterparties

General partners

Daryl SmithDownstream Perennial Master Gp, Ltd.

Auditors

WITHUMSMITH+BROWN, PC

Prime brokers

MORGAN STANLEY & CO. LLC

Custodians

MORGAN STANLEY & CO. LLC

Administrators

NAV FUND ADMINISTRATION GROUP