Nebari Partners, LLC

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.

ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
U.S. SECURITIES AND EXCHANGE COMMISSION
2.
Principal Sanction:
Cease and Desist
Other Sanctions: 
CIVIL MONETARY PENALTY CENSURE
3.
Date Initiated (MM/DD/YYYY): 
09/17/2024
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
ADMINISTRATIVE PROCEEDING FILE NO. 3-22141
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Other
Other Product Types: 
POOLED INVESTMENT VEHICLES (SPECIAL PURPOSE VEHICLES)
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
ON SEPTEMBER 17, 2024, THE SEC ANNOUNCED A SETTLEMENT AGREEMENT WITH NEBARI PARTNERS, LLC ("NEBARI"), IN WHICH THE SEC ALLEGED
THAT NEBARI IN 2021 AND 2022 FAILED TO CONDUCT AUDITS OF, AND TIMELY DISTRIBUTE AUDITED FINANCIAL STATEMENTS TO INVESTORS IN,
CERTAIN SPECIAL PURPOSE VEHICLES ("SPVS") IN ACCORDANCE WITH SECTION 206(4) OF THE INVESTMENT ADVISERS ACT OF 1940 AND RULE
206(4)-2 THEREUNDER (THE "CUSTODY RULE"). THE CONDUCT DESCRIBED IN THE SEC SETTLEMENT ORDER RELATED TO 14 SPVS MANAGED BY
RELATED PERSONS OF NEBARI. THE ORDER FOUND THAT INVESTORS IN THE SPVS WERE AFFORDED VISIBILITY INTO THEIR INVESTMENTS THROUGH
OTHER MEANS, SUCH AS PERIODIC CAPITAL STATEMENTS AND FINANCIAL STATEMENTS PREPARED BY THE MANAGERS OF THE UNDERLYING
INVESTMENTS. THE CONDUCT ALLEGED IN THE ORDER DID NOT EXTEND TO NEBARI NATURAL RESOURCES CREDIT FUND I LP, NEBARI NATURAL
RESOURCES CREDIT FUND II LP OR NEBARI GOLD FUND 1, LP (THE "NEBARI FUNDS"). AS PART OF THE SETTLEMENT, NEBARI CONSENTED TO THE ENTRY
OF A CEASE-AND-DESIST ORDER AND CENSURE, AND AGREED TO PAY A CIVIL MONEY PENALTY OF $80,000. NEBARI NEITHER ADMITTED NOR DENIED
THE FINDINGS OF THE SEC SETTLEMENT ORDER, WHICH RESOLVED THE SEC'S INVESTIGATION. THE SEC SETTLEMENT ORDER ACKNOWLEDGED
NEBARI'S PROMPT REMEDIAL ACTIONS.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled
11. Resolution Date (MM/DD/YYYY):
09/17/2024
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 80,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
NONE
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THE SETTLEMENT ORDER INCLUDED A CIVIL MONETARY PENALTY IN THE AMOUNT OF $80,000, WHICH NEBARI PAID ON SEPTEMBER 19, 2024.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON SEPTEMBER 17, 2024, THE SEC ANNOUNCED A SETTLEMENT AGREEMENT WITH NEBARI PARTNERS, LLC ("NEBARI") IN WHICH THE SEC ALLEGED
THAT NEBARI, IN 2021 AND 2022 FAILED TO CONDUCT AUDITS OF, AND TIMELY DISTRIBUTE AUDITED FINANCIAL STATEMENTS TO INVESTORS IN,
CERTAIN SPECIAL PURPOSE VEHICLES ("SPVS") IN ACCORDANCE WITH SECTION 206(4) OF THE INVESTMENT ADVISERS ACT OF 1940 AND RULE
206(4)-2 THEREUNDER (THE "CUSTODY RULE"). THE ORDER FOUND THAT INVESTORS IN THE SPVS WERE AFFORDED VISIBILITY INTO THEIR
INVESTMENTS THROUGH OTHER MEANS, SUCH AS PERIODIC CAPITAL STATEMENTS AND FINANCIAL STATEMENTS PREPARED BY THE MANAGERS OF THE
UNDERLYING INVESTMENTS. THE CONDUCT DESCRIBED IN THE SEC SETTLEMENT ORDER RELATED TO 14 SPVS MANAGED BY RELATED PERSONS OF
NEBARI AND DID NOT EXTEND TO NEBARI NATURAL RESOURCES CREDIT FUND I LP, NEBARI NATURAL RESOURCES CREDIT FUND II LP OR NEBARI GOLD
FUND 1, LP (THE "NEBARI FUNDS"). THE SEC SETTLEMENT ORDER IS FINAL AND RESOLVES THE SEC'S INVESTIGATION. NEBARI PAID THE CIVIL
MONETARY PENALTY ON SEPTEMBER 19, 2024.