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• Prospect Ridge Real Estate Debt Fund, L.P., which, along with its feeder fund, comprises the “Debt Fund”, for which Prospect Ridge serves as investment adviser; and
• AB PR Real Estate Equity Plus L.P., which, along with its feeder fund, comprises “AB PREP”, for which Prospect Ridge serves as investment adviser. In providing services to the Funds, Prospect Ridge formulates the investment strategies and directs and manages the investment of their assets. In general, the Funds invest in multiple assets as described in such Funds’ Governing Documents, although certain Funds are structured as single- asset Funds. Prospect Ridge has established, and may in the future establish, certain partnerships, such as co- investment vehicles, that are designed to invest in one or more specific investments alongside the 1 The final audit of Bloom JV occurred in September 2023 and while the entities have not yet been dissolved, Bloom JV did not hold any assets as of December 31, 2023. Funds. Typically, an investment is identified as a co-investment opportunity as a result of investment limitations, potential lack of available capital, or fund objectives such as diversification requirements, that would limit the amount the relevant Fund would otherwise invest in such investment opportunity as determined in good faith by Prospect Ridge in its sole discretion. In such cases, Prospect Ridge may offer one or more persons (including, but not limited to, Investors (as defined below) in the relevant Fund or third parties who are not Investors) the opportunity to participate in such co-investment vehicles. Prospect Ridge will determine the person(s) to whom it offers any such opportunity, and the relative amounts offered to each such person, taking into account such factors as Prospect Ridge determines appropriate based on the relevant facts and circumstances, which may include one or more of the following: (i) the ability of an investor to commit to invest in a short period of time, in light of the timing constraints applicable to such investment; (ii) the ability of an investor to commit to a significant portion of such opportunity; (iii) whether an investor provides strategic value in respect of such investment, such as by having relevant experience in the sector or existing relationships with management or other relevant parties; (iv) the size of an investor’s commitment to the Fund; (v) whether and to what extent an investor has accepted prior co-investment opportunities offered to it; or (vi) such other factors as Prospect Ridge deems relevant, which may include subjective determinations such as working relationships and strategic benefits to Prospect Ridge or to the Funds; provided, however, that the opportunity to participate (including the amount offered) will first be offered to any Investors who negotiated for such rights (unless such opportunity is taken by a strategic investor if permitted by the agreements with Investors). In all cases, allocation of co- investment opportunities will be subject to the provisions of the Governing Documents. Investment advice is provided directly to the Funds but not individually to the limited partners or shareholders of such vehicles (the “Investors” or “Limited Partners”). Prospect Ridge manages the assets of the Clients in accordance with the terms of each Client’s Governing Documents. As of December 31, 2023, Prospect Ridge managed approximately $3,360,237,056 on a discretionary basis and $275,230,352 on a non-discretionary basis.