SCS Capital Management LLC (“SCS”) was founded in 2002 as an investment firm that focuses on two primary market segments: high net worth families and institutional investors. SCS's mission is to provide client-aligned investment advice to high net worth families and institutions. SCS is owned by Focus Operating, LLC, which is owned by Focus Financial Partners, LLC (“Focus LLC”); but is managed by Partners Perpetual Trust, LLC pursuant to a management agreement between Partners Perpetual Trust and Focus LLC. The following individuals comprise the Management Committee of Partners Perpetual Trust:
• Antony Abbiati – Founder & Chief Executive Officer
• Douglas Ederle - Founder, Managing Director and Co-Director of Private Client Group
• William Walser – Managing Director and Co-Director of Private Client Group
• Marcelo Vedovatto – Chief Operating Officer
• Melissa Schneberger – Managing Director and Head of People & Culture
• Peter Lacaillade – Managing Director & Head of Private Investments
• Colin Campbell – Managing Director & Head of Finance and Risk Management Focus Financial Partners, LLC SCS is part of the Focus Financial Partners, LLC (“Focus LLC”) partnership. Specifically, SCS is a wholly owned subsidiary of Focus Operating, LLC (“Focus Operating”), which is a wholly owned subsidiary of Focus LLC. Focus Financial Partners Inc. (“Focus Inc.”) is the sole managing member of Focus LLC and is a public company traded on the NASDAQ Global Select Market. Focus Inc. owns approximately two-thirds of the economic interests in Focus LLC. Focus Inc. has no single 25% or greater shareholder. Focus Inc. is the managing member of Focus LLC and has 100% of its governance rights. Accordingly, all governance is through the voting rights and Board at Focus Inc. Focus LLC also owns other registered investment advisers, broker-dealers, pension consultants, insurance firms, business managers and other firms (the “Focus Partners”), most of which provide wealth management, benefit consulting and investment consulting services to individuals, families, employers, and institutions. Some Focus Partners also manage or advise limited partnerships, private funds, or investment companies as disclosed on their respective Form ADVs. Through our relationship with Focus, we offer clients the option of obtaining certain financial solutions from unaffiliated third-party financial institutions with the assistance of our affiliate, Focus Treasury & Credit Solutions, LLC (“FTCS”), and also help our clients obtain certain insurance solutions from unaffiliated, third-party insurance brokers by introducing clients to our affiliate, Focus Risk Solutions, LLC (“FRS”). Both FTCS and FRS are wholly owned subsidiary of our parent company, Focus Financial Partners, LLC. SCS, FTCS, and FRS do not receive any compensation from such third-party financial institutions or insurance brokers for serving our clients. Please see Items 5 and 10 for a fuller discussion of these services and other important information. Wealth and Investment Management. SCS provides investment advisory and wealth management services to individuals and related entities, including family trusts and foundations, corporations, business entities and private investment funds through its private client business. SCS’s financial planning professionals work with clients and their SCS relationship team to develop a wealth management strategy, income and cash flow planning, tax planning, and philanthropic strategy. SCS seeks to provide an integrated wealth and investment management program whereby investment portfolios reflect

not only SCS’s financial market outlook, but integrate the client’s strategic long-term goals, including income and spending needs, as well as tax and estate planning objectives. Services provided to these advisory clients include identifying investment objectives, including preferences or restrictions, and risk tolerance, developing and documenting asset allocation, investment policy and investment strategy, implementing the investment strategy, performing regular administration, monitoring, and reporting of financial assets and performing due diligence on traditional, hedge and alternative fund managers. Investment advisory and wealth management services are based on the Investment Advisory Agreement ("IAA") entered by an advisory client and SCS. The IAA provides SCS with the authority to recommend and retain other investment advisers and invest in SCS-managed pooled investment vehicles and in other funds that are not affiliated with SCS for certain portions of a client's assets. For purposes of this Brochure, “clients” generally refers to the wealth management clients of SCS and not the SCS pooled investment vehicles themselves. Retirement Accounts. SCS is a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) with respect to investment management services and investment advice provided to ERISA plan clients, including plan participants. SCS is also a fiduciary under section 4975 of the Internal Revenue Code (the “IRC”) with respect to investment management services and investment advice provided to individual retirement accounts (“IRAs”), ERISA plans, and ERISA plan participants. As such, SCS is subject to specific duties and obligations under ERISA and the IRC that include, among other things, prohibited transaction rules which are intended to prohibit fiduciaries from acting on conflicts of interest. When a fiduciary gives advice in which it has a conflict of interest, the fiduciary must either avoid or eliminate the conflict or rely upon a prohibited transaction exemption (a “PTE”). As a fiduciary, we have duties of care and of loyalty to you and are subject to obligations imposed on us by the federal and state securities laws. As a result, you have certain rights that you cannot waive or limit by contract. Nothing in our agreement with you should be interpreted as a limitation of our obligations under the federal and state securities laws or as a waiver of any unwaivable rights you possess. Pooled Investment Vehicles. SCS also serves as investment adviser to several pooled investment vehicles such as limited liability companies, limited partnerships, and offshore corporations, including several unregistered pooled investment vehicles that are offered and sold to high net worth individual investors as well as institutional investors including endowments, foundations, and other entities, in each case that are both “accredited investors” as defined in Regulation D under the Securities Act and “qualified purchasers” as defined in the Investment Company Act. A list of the current SCS-managed pooled investment vehicles is set forth in Item 10 in this Brochure. Most of the clients of SCS invest in one or more of the SCS pooled investment vehicles. To avoid a conflict of interest, SCS does not charge management or performance fees to investors in the SCS pooled investment vehicles who are wealth management clients of SCS. As of December 31, 2022, SCS's assets under management were approximately $28,493,176,000. Of this amount, approximately $24,324,176,000 was managed by SCS on a discretionary basis, and $4,168,378,000 on a non-discretionary basis.