The investment seeks to generate appropriate risk-adjusted long-term returns by investing in a diversified portfolio of private equity investments. The fund’s investments are expected to consist primarily of: (i) secondary investments in private equity funds (“portfolio funds”) managed by third-party managers (“Portfolio Fund Managers”); (ii) primary investments in portfolio funds managed by Portfolio Fund Managers; and (iii) direct co-investments in the equity and/or debt of operating companies (“Direct Investments”). The fund is non-diversified.