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Private equityFirmprivate credit · probablelower middle market

Systima Capital Management

Private Equity

Chicago, IL

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:b8f8473b-afa2-422c-accc-38ce26c408eb

Data as of Sep 17, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures. Page built Sep 18, 2026, 10:05 PM UTC and rebuilt at most every 15 minutes.

Relationships: 18
Dated events: 15
On other graphs: 3
Observed: Sep 13, 2026 to Sep 17, 2026
28 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Independent Sponsorsidentity

Systima Capital Management

Capital provider to sponsors · shared crd

RIA / Wealth Managementidentity

SYSTIMA CAPITAL MANAGEMENT

Registered adviser · shared crd

Private Creditidentity

Systima Capital Management

Private credit manager · shared crd

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Funds: 6
PE funds: 6
Vintages: 2017 to 2021
PE GAV, 2024 filing: $417Mgross asset value on Form ADV; never dry powder
Regulatory AUM: $579M
Investments: 0
Active investments: 0
Size band: LOWER MIDDLE MARKETderivedproxy: $0.42bn Private Equity Fund GAV on the Form ADV filed 2024-03-27
Stated sectors: real_estate
Latest ADV filing: Mar 27, 2024
Employees (ADV): 7
Website: systimacapital.com

Funds

Fund	Vintage	Lifecycle	ADV type	Form D sold	GAV
Systima Affordable Housing Credit Opportunities Fund III LP	2021	Unknown	Private Equity Fund	n/a	$308M
Systima Affordable Housing Finance Fund I LLC	2021	Unknown	Private Equity Fund	n/a	$39.8M
Systima Supportive Housing Credit Opportunities Fund I, LP	2020	Active deployment	Private Equity Fund	n/a	$26.1M
Sahi Tebs II, LP	2020	Mature	Private Equity Fund	n/a	$6.7M
Systima Scr3 Debt Opportunity Fund LLC	2017	Harvest	Private Equity Fund	n/a	$22.8M
Systima Scr2 Debt Opportunity Fund LLC	2017	Harvest	Private Equity Fund	n/a	$14.2M

Relationships

Employs (9)

→ Sarp ErgunPersonAssociate-Investments
factThe subject's own site
→ Michael MayersPersonSenior Associate-Asset Management
factThe subject's own site
→ Ryan Michael PaszczykowskiPersonManaging Director
Mar 1, 2014 to Mar 30, 2020inferenceForm ADV, The subject's own site
→ Aerene ChungPersonVice President-Investments
factThe subject's own site
→ John VaronesPersonManaging Member
Dec 1, 2018 to presentfactForm ADV, The subject's own site
→ Conor O’GradyPersonChief Financial Officer
factThe subject's own site
→ Mitchell StoehrPersonVice President-Risk Management and Capital Markets
factThe subject's own site
→ Conor (nmn) O'GradyPersonChief Compliance Officer And Chief Financial Officer
Aug 1, 2019 to presentfactForm ADV
→ Kathleen Gugler DanilchickPersonManaging Director
Aug 1, 2016 to Mar 30, 2020inferenceForm ADV

Manages (6)

→ Systima Affordable Housing Credit Opportunities Fund III LPFundPrivate Equity Fund
Mar 31, 2021 to presentfactForm ADV
→ Sahi Tebs II, LPFundPrivate Equity Fund
Mar 31, 2021 to presentfactForm ADV
→ Systima Affordable Housing Finance Fund I LLCFundPrivate Equity Fund
Mar 30, 2022 to presentfactForm ADV
→ Systima Scr3 Debt Opportunity Fund LLCFundPrivate Equity Fund
Dec 19, 2017 to presentfactForm ADV
→ Systima Scr2 Debt Opportunity Fund LLCFundPrivate Equity Fund
Dec 19, 2017 to presentfactForm ADV
→ Systima Supportive Housing Credit Opportunities Fund I, LPFundPrivate Equity Fund
Mar 30, 2020 to presentfactForm ADV

Owns (1)

← Aose Holdings I LLCFirmMember
Jan 1, 2019 to presentfactForm ADV

Dated events

10 bookkeeping events (roster, classification and holdings changes) folded below

Occurred
Mar 30, 2020
Person left
Kathleen Gugler Danilchick (Managing Director) no longer on Schedule A of Systima Capital Management
Form ADVobserved 5 days ago
Occurred
Mar 30, 2020
Person left
Ryan Michael Paszczykowski (Managing Director) no longer on Schedule A of Systima Capital Management
Form ADVobserved 5 days ago
Occurred
Aug 1, 2019
Person joined
Conor (nmn) O'Grady joined Schedule A of Systima Capital Management as Chief Compliance Officer And Chief Financial Officer
Form ADVobserved 5 days ago
Occurred
Aug 1, 2016
Person joined
Kathleen Gugler Danilchick joined Schedule A of Systima Capital Management as Chief Compliance Officer
Form ADVobserved 5 days ago
Occurred
Apr 28, 2014
Adviser first adv filing
Systima Capital Management first filed Form ADV in the extract (IA)
Form ADVobserved 5 days ago

Show 10 bookkeeping events

Occurred
Mar 30, 2022
Systima Affordable Housing Finance Fund I LP first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $37,735,405
Occurred
Mar 30, 2022
Fund 805-5529408248 no longer reported on Form ADV by Systima Capital Management
Occurred
Mar 31, 2021
Systima Affordable Housing Credit Opportunities Fund III LP first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $295,557,442
Occurred
Mar 31, 2021
Fund 805-3721635341 no longer reported on Form ADV by Systima Capital Management
Occurred
Mar 31, 2021
Sahi Tebs II LLC first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $6,407,328
Occurred
Mar 31, 2021
Systima Affordable Housing Finance Fund I LLC first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $35,179,115
Occurred
Mar 30, 2020
Systima Supportive Housing Credit Opportunities Fund I, LP first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $10,879,734
Occurred
Mar 30, 2020
Sahi Tebs II, LP first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $5,403,577
Occurred
Dec 19, 2017
Systima Scr3 Debt Opportunity Fund LLC first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $35,096,909
Occurred
Dec 19, 2017
Systima Scr2 Debt Opportunity Fund LLC first reported on Form ADV by Systima Capital Management (Private Equity Fund), GAV $35,305,734

Who to call

the organisation, the role and the published line, with the filing or website that published it; revealed to signed-in accounts

The firm's published line

Revealable: 1 business phone (Form ADV), 1 office address (Form ADV), 1 website (Form ADV), 2 work emails (firm website) · as of 2026-09-17

Sarp Ergun
Associate-Investments · Revealable: 2 professional profiles (firm website)
Michael Mayers
Senior Associate-Asset Management · Revealable: 2 professional profiles (firm website)
Ryan Michael Paszczykowski
Head of Structured Credit Investing · Revealable: 2 professional profiles (firm website)
Aerene Chung
Vice President-Investments · Revealable: 2 professional profiles (firm website)
John Varones
Managing Member · Revealable: 2 professional profiles (firm website)
Conor O’Grady
Chief Financial Officer · Revealable: 2 professional profiles (firm website)
Mitchell Stoehr
Vice President-Risk Management and Capital Markets · Revealable: 2 professional profiles (firm website)

Also named here, with no published line of their own (reach them through the firm): Conor (nmn) O'Grady (Chief Compliance Officer And Chief Financial Officer).

Who to call is the organisation, the person's role and the line they published themselves: a business phone, office address, website or profile link from Form ADV, Form 13F or their own website, with that source named on every value. The counts above are what a reveal returns; a personal email is rarely published, so most reveals are the firm's line. Never data bought from a provider, never anything personal. Reveals by plan

Provenance

Graph: Private Equity
Canonical id: dfx:pe:b8f8473b-afa2-422c-accc-38ce26c408eb
First observed: Sep 13, 2026
Last observed: Sep 17, 2026 38 h ago
Source families: Federal regulator filings, Firm and issuer disclosures
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

Systima Capital Management

Private Equity

Chicago, IL

This is the graph view. The full profile, with its team, deals and sources, is on Private Equity.Open the full profile →

Search this name across graphsid dfx:pe:b8f8473b-afa2-422c-accc-38ce26c408eb

Data as of Sep 17, 2026 (this record's last observation) from federal regulator filings, firm and issuer disclosures. Page built Sep 18, 2026, 10:05 PM UTC and rebuilt at most every 15 minutes.

Fund

Vintage

Lifecycle

ADV type

Form D sold

GAV

LPs

Systima Affordable Housing Credit Opportunities Fund III LP

2021

Unknown

Private Equity Fund

n/a

$308M

Systima Affordable Housing Finance Fund I LLC

2021

Unknown

Private Equity Fund

n/a

$39.8M

Systima Supportive Housing Credit Opportunities Fund I, LP

2020

Active deployment

Private Equity Fund

n/a

$26.1M

Sahi Tebs II, LP

2020

Mature

Private Equity Fund

n/a

$6.7M

Systima Scr3 Debt Opportunity Fund LLC

2017

Harvest

Private Equity Fund

n/a

$22.8M

Systima Scr2 Debt Opportunity Fund LLC

2017

Harvest

Private Equity Fund

n/a

$14.2M