We seek to maximize returns for our clients and are guided by a simple goal: to build private equity portfolios that outperform on a risk/return basis. We believe that a combination of exceptional fund selection and optimal portfolio construction is an approach that produces superior private equity returns. We select outperforming fund managers through a diverse mix of market cycles through an investment approach that has been developed and refined over the past 18 years. Our manager
selection process utilizes a proprietary mix of qualitative and quantitative factors aided by
PCG Asset Management's expansive private equity database, our proprietary research on market
segments and use of industry-leading portfolio analytics tools.

PCG Asset Management is organized into specialized groups, which allows us to develop a deep understanding of each segment of the private equity market and a depth of relationships that cannot
be achieved through a generalist approach to the market. We field specialized due diligence teams
that cover specific sub-sectors of the private equity market and have professionals dedicated to
client service and portfolio management. We believe that the growing complexity and global nature
of the private equity market requires this specialized approach.