[slide 1]
PLR Exhibit A — Organizational Charts (Pre-Reorganization)
Taxpayer: Solara Digital Infrastructure LP (SDILP), a Delaware limited partnership; U.S. EIN 82-4917366
Sponsor HQ: 1200 Market Street, Suite 3400, Wilmington, DE 19801; founded March 17, 2014
Assets under management: approximately $14.7 billion as of March 31, 2025
Prepared in support of the PLR request submitted to IRS Office of the Associate Chief Counsel (International), CC:INTL
Prepared by Northgate Services Inc.
[slide 2]
Platform Overview — Six Parallel Fund Vehicles Across Three Jurisdictions
Fund IV complex (vintage 2021): Fund IV LP (Delaware, $4.2B), Fund IV-A Cayman ($1.85B), Fund IV-B Lux (€1.15B / $1.24B at 1.08 EUR/USD)
Fund V complex (vintage 2023): Fund V LP (Delaware, $5.6B), Fund V-A Cayman ($2.45B), Fund V-B Lux (€1.38B / $1.49B at 1.08 EUR/USD)
General partners: Solara Digital Infrastructure GP LLC (Delaware), Solara Offshore GP Ltd. (Cayman), Solara Luxembourg Management S.à r.l. (Luxembourg)
Ultimate sponsor: Solara Digital Infrastructure LP, managed by Solara GP; Managing Partner & Founder Viktor Raines
23 portfolio companies total — 11 across Fund IV vehicles, 12 across Fund V vehicles
[slide 3]
Investor Pools and Vehicle Routing Logic
U.S. taxable investors invest through the Delaware main funds (Fund IV LP and Fund V LP)
U.S. tax-exempt investors (pension funds, endowments) invest through the Cayman parallel vehicles (Fund IV-A, Fund V-A) for UBTI blocker benefits
Non-U.S. investors invest through Cayman or Luxembourg parallel vehicles depending on treaty access and regulatory considerations
Representative U.S. taxable: Argyle Family Office Holdings LLC (Delaware) — $95M (Fund IV) / $130M (Fund V)
Representative U.S. tax-exempt: Pinnacle State Employees' Retirement System ($275M / $340M); Grandview University Endowment ($120M / $185M)
Representative non-U.S.: Nordhaven Sovereign Wealth Fund ($380M / $500M in A-vehicles); Kestrel Pacific Insurance Group (€200M / €275M in B-vehicles)
[slide 4]
Fund IV Complex — Detailed Organizational Chart
Solara Digital Partners Fund IV LP — Delaware LP; $4.2B (vintage 2021, ~72% deployed); GP: Solara GP; EIN 85-2103748
Solara Digital Partners Fund IV-A (Cayman) LP — Cayman exempted LP; $1.85B; GP: Solara Offshore GP Ltd.; CIMA MF-72491; EIN 98-6241503
Solara Digital Partners Fund IV-B (Luxembourg) SCSp — €1.15B ($1.24B); GP: Solara Luxembourg Management S.à r.l.; RCS B 248193; EIN 98-6241571
Lux Manager S.à r.l. RCS number: B 248194
Fund IV-A registered office: Harborstone Corporate Services Ltd., P.O. Box 2714, 94 Solaris Avenue, George Town, Grand Cayman KY1-1111
Fund IV-B registered office: 14, rue Jean-Pierre Brasseur, L-1258 Luxembourg
[slide 5]
Fund IV Complex — Portfolio Company Holdings
NovaBright Data Systems Inc. — Delaware corp; data centers; FMV $890M / basis $520M (BIG $370M); Fund IV-A 60% / Fund IV LP 40%
Thorngate Fiber Networks LP — Delaware LP; fiber-optic networks; FMV $670M / basis $490M (BIG $180M); Fund IV-A 100%
Crestline Cloud Solutions LLC — Delaware LLC (disregarded, owned by Lux SCSp); SaaS; FMV €340M ($367M) / basis €195M ($211M) (BIG €145M / $156M); Fund IV-B 100%
11 portfolio companies total across the Fund IV vehicles
Holdings span digital infrastructure (data centers, fiber) and enterprise SaaS — all operating businesses
[slide 6]
Fund V Complex — Detailed Organizational Chart
Solara Digital Partners Fund V LP — Delaware LP; $5.6B (vintage 2023, ~38% deployed); GP: Solara GP; EIN 88-3467219
Solara Digital Partners Fund V-A (Cayman) LP — Cayman exempted LP; $2.45B; GP: Solara Offshore GP Ltd.; CIMA MF-89103; EIN 98-7891234
Solara Digital Partners Fund V-B (Luxembourg) SCSp — €1.38B ($1.49B); GP: Solara Luxembourg Management S.à r.l.; RCS B 271056; EIN 98-7891267
Same three-GP architecture as Fund IV: Solara GP (Delaware), Solara Offshore GP Ltd. (Cayman), Solara Luxembourg Management S.à r.l. (Luxembourg)
Fund V subscription facility: $1.5B revolver with Ashford National Bank, N.A. and Sentinel Capital Markets LLC (co-lender / administrative agent)
[slide 7]
Fund V Complex — Portfolio Company Holdings
Veridian Edge Computing Corp. — Delaware corp; edge computing infrastructure; FMV $1.12B / basis $780M (BIG $340M); Fund V-A 55% / Fund V LP 45%
Helix SaaS Holdings Ltd. — Cayman exempted company; SaaS holding company; FMV $445M / basis $310M (BIG $135M); Fund V-A 100%
12 portfolio companies total across the Fund V vehicles
Holdings span edge computing, data infrastructure, and SaaS — all operating businesses
Fund V-B Lux (€1.38B) holds its pro-rata parallel interests alongside the other Fund V vehicles
[slide 8]
Consolidated Pre-Reorganization Snapshot — Vehicles, Sizes, and Identifiers
Fund IV LP — Delaware; $4.2B; EIN 85-2103748; GP Solara GP
Fund IV-A Cayman — Cayman exempted LP; $1.85B; EIN 98-6241503; CIMA MF-72491; GP Solara Offshore GP Ltd.
Fund IV-B Lux — Luxembourg SCSp; €1.15B ($1.24B); EIN 98-6241571; RCS B 248193; GP Solara Luxembourg Management S.à r.l.
Fund V LP — Delaware; $5.6B; EIN 88-3467219; GP Solara GP
Fund V-A Cayman — Cayman exempted LP; $2.45B; EIN 98-7891234; CIMA MF-89103; GP Solara Offshore GP Ltd.
Fund V-B Lux — Luxembourg SCSp; €1.38B ($1.49B); EIN 98-7891267; RCS B 271056; GP Solara Luxembourg Management S.à r.l.
Registered agent (Delaware entities): Capitol Registered Agents Inc., 850 New Burton Road, Suite 201, Dover, DE 19904
[slide 9]
Rationale for Change — Why the Current Structure Is Being Reorganized
Duplicative offshore administration, audit, and regulatory costs of approximately $3.8 million annually
Forthcoming OECD Pillar Two GloBE rules diminishing the benefits of the Luxembourg SCSp structures (effective FY 2025)
Simplified compliance under FATCA and CRS across a consolidated platform
LP-requested governance simplification; preliminary LPAC consent of 78% in interest obtained April 22, 2025
See Exhibit B for the target post-reorganization structure and Exhibit C for the step-transaction diagrams