IFA provides investment advisory services to private pooled investment vehicles, the “Funds,” that are offered exclusively to certain highly sophisticated investors, including high net worth individuals, families or institutions. IFA also provides advisory services to a family office. For the purposes of this document, IFA’s “clients” are the Funds it manages and the family office to which it provides advisory services, and its “investors” are the underlying investors in those vehicles and the aforementioned family office. IFA was formed in 2006, and its principal owners are Leslie Lake and Sacha Lainovic. A minority owner of IFA is Invus Alternative Assets Advisors, LLC. IFA offers advisory services with the goal of generating capital appreciation. For some of its clients, including the “Funds of Hedge Funds” and the family office client, IFA recommends for investment exclusively securities of hedge funds. For other clients, the “Private Equity Funds,” IFA recommends direct investments, primarily minority positions, in highly speculative private companies and investments in private equity funds. For a third group of clients, the “TMG Funds,” IFA monitors and provides investment advisory services related to exclusively investments in Brazil, primarily control positions in private companies. As described below, IFA co-sponsors the TMG Funds together with TMG Management Services, Ltd. (the “TMG Advisor”). The TMG Funds are no longer open to

new investors and are not making any new investments. IFA’s clients’ investment strategies are described in more detail in each client’s governing documents, including advisory agreements, investment management agreements or limited partnership agreements (as applicable). IFA tailors its recommendations to clients’ investment objectives and strategies as described in more detail in each client’s governing documents. IFA determines which recommendations are suitable for each client based on that client’s governing documents, which may include the Funds’ limited partnership agreements and offering memoranda or a client’s advisory agreement with the Firm, as applicable, which collectively set forth the investment objectives and suitable investments for that client. IFA does not personalize its investment recommendations to the specific needs of the investors in the Funds. In accordance with common industry practice, IFA has in certain instances entered into “side letters” or side agreements with certain investors in a client whereby IFA grants individual investors specific rights, benefits, or privileges not set forth in the governing documents. IFA does not participate in wrap fee programs. As of December 31, 2023, IFA manages approximately $2,913,819,000 on a sole discretionary basis. Together with the TMG Advisor, IFA has joint discretion and manages approximately $37,671,000. Please refer to “Item 7: Types of Clients” for more information.