SCHEDULE: Fort Baker Capital Discloses 9.2% Stake in Cartesian Growth Corp III

Fort Baker Capital Management LP, along with Steven Patrick Pigott and Fort Baker Capital, LLC, has disclosed a 9.2% beneficial ownership stake in Cartesian Growth Corp III.

Summary

• Fort Baker Capital Management LP, Steven Patrick Pigott, and Fort Baker Capital, LLC jointly reported beneficial ownership of 2,529,121 Class A ordinary shares of Cartesian Growth Corp III.
• This ownership represents 9.2% of the issuer's Class A ordinary shares outstanding, based on 27,600,000 shares as of November 14, 2025.
• The reporting persons share both voting and dispositive power over all 2,529,121 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• Fort Baker Capital Management LP is an Investment Adviser (IA), Steven Patrick Pigott is an Individual (IN), and Fort Baker Capital, LLC is a Parent Holding Company/Control Person (HC).

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as a significant passive stake by an investment adviser suggests confidence in the issuer's value proposition without immediate intent for control, which can be reassuring to other investors.

Positives

• NA

Negatives

• NA

Risks

• The filing itself does not detail specific risks of the issuer, but rather the reporting persons' intent. The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing control of the issuer, which mitigates concerns about potential activist investor actions for now.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from the issuer or the reporting persons regarding the issuer's future performance.

Management Comments

• Steven Patrick Pigott, Chief Investment Officer of Fort Baker Capital Management LP and Fort Baker Capital, LLC, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

StockSavvy.ai notes that a 9.2% stake is a significant passive investment, indicating a strong conviction in Cartesian Growth Corp III by Fort Baker Capital. Such disclosures often signal institutional interest in the company's long-term prospects, particularly for a SPAC (Special Purpose Acquisition Company) like Cartesian Growth Corp III, which is typically seeking a merger target.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by an institutional investor may instill confidence and potentially attract further investment, signaling a belief in the company's value.
• Management: Awareness of a large institutional holder may influence management's strategic decisions, though the filing explicitly states no intent to influence control.

Key Dates

Recommendation

The filing indicates a significant, passive institutional investment, which is generally a positive signal. However, as a Schedule 13G, it provides no new operational or financial performance data for Cartesian Growth Corp III. Therefore, while the institutional interest is noteworthy, it doesn't fundamentally alter the company's underlying business prospects or current valuation, warranting a 'hold' recommendation for existing investors and further due diligence for potential new investors.

Keywords

Cartesian Growth Corp III, Fort Baker Capital Management, Beneficial Ownership, Schedule 13G, Investment Adviser, Class A ordinary shares, SEC filing, Passive Investment