Advisory Business Generally The Adviser was established in 2014 and provides investment advisory services to privately offered funds that focus primarily on private equity investments, as described below. The Adviser is owned by Richard Cashin, James Koven, Greg Belinfanti, James Cherry, and Joerg Zirener. Fund Structure The Adviser serves as the investment manager for (i) privately offered pooled investment vehicles (and certain feeder funds and alternative investment vehicles thereof) that have made and will make private equity investments (the “Main Funds”) and (ii) a privately offered partner co- investment vehicle, including an alternative investment vehicle thereof (the “Partner Co- Investment Vehicle”) that has invested, among other investments, alongside certain Adviser managed vehicles. The Adviser has entered into an investment management agreement with JPMorgan Chase & Co (“JPMC”) to provide certain investment management services with respect to a portfolio company investment held by JPMC. The Adviser has also established several co-investment vehicles, and may in the future establish additional co-investment vehicles (and certain feeder funds thereof), in each case to allow certain persons to invest alongside the Main Funds in a particular investment opportunity (each, a “Single Purpose Co-Investment Vehicle” and, together with the Partner Co-Investment Vehicle, the “Co-Investment Vehicles”). Each of the Main Funds and the Co-Investment Vehicles shall hereinafter be referred to as a “Fund.” As a general matter, the Funds are managed by the Adviser, who investigates, analyzes, structures and negotiates potential investments. The Adviser has the general authority to recommend investments to the general partner of each Fund (each a “General Partner”), subject to the limitations set forth in the relevant Partnership Agreements or Management Agreement (as such terms are defined below). The management and conduct of the activities of each Fund remain the ultimate responsibility of such Fund’s General Partner. Affiliates of the Adviser serve as the General Partners of the Main Funds, the Partner Co-Investment Vehicle and any Single Purpose Co-Investment Vehicles. The Partner Co-Investment Vehicle participates pro rata (based on current participation in the relevant portfolio investment) alongside certain of the Main Funds in dispositions of the portfolio investments and also shares in common costs and expenses (excluding management fees, which are not owed by the Partner Co-Investment Vehicle) through a reduction in distributable proceeds. To the extent there are no distributable proceeds, the Main Funds generally advance on an interest-free basis such expenses on behalf of the Partner Co-Investment Vehicle. Such dispositions may be on terms and conditions not more favorable than the terms and conditions of the corresponding dispositions by the applicable Main Fund. As a general matter, each of the Single Purpose Co-Investment Vehicles participates in a single investment of one of the Main Funds

in an amount determined by the General Partner in its sole discretion. The Single Purpose Co-Investment Vehicles will have the opportunity to participate pro rata (based on current participation in the relevant portfolio investment) alongside the applicable Main Fund in follow-on investments of the relevant portfolio investment and will also share in common costs and expenses. In most cases, management fees and carried interest are not owed by these Single Purpose Co-Investment Vehicles. However, certain Single Purpose Co- Investment Vehicles do pay management fees and carried interest to the Adviser and its affiliates and will not be shared with the applicable Main Fund. Each of the Single Purpose Co-Investment Vehicles may participate in such investments, follow-on investments and dispositions on terms and conditions not more favorable than the terms and conditions of the corresponding investments and dispositions by the applicable Main Fund. The investment strategy of the Funds is described in Item 8 below and set forth more fully in the private placement memoranda (as supplemented or amended, the “Private Placement Memoranda”), limited partnership or similar governing agreement (each, a “Partnership Agreement”) or management agreement or other similar agreement between the Adviser and such Fund (or as applicable to such Fund) (each, a “Management Agreement” and, together with any relevant Private Placement Memorandum and Partnership Agreement, the “Governing Documents”), as applicable. The Adviser provides services to each Fund in accordance with the relevant Partnership Agreement or Management Agreement. The limited partners, investors and members of the Funds described above are collectively referred to as “Limited Partners” or “investors” in this Brochure. Investment Restrictions The advice provided by the Adviser and its affiliates to each Fund is tailored to meet the individual investment objectives and restrictions of each Fund and not that of individual Limited Partners. Each Partnership Agreement or Management Agreement, as applicable, imposes restrictions on investing in certain securities or types of securities. Investors in the Funds participate in the overall investment program for the applicable Fund, but in certain circumstances are excused from a particular investment due to legal, regulatory or other agreed-upon circumstances pursuant to the relevant Partnership Agreement; for the avoidance of doubt, such arrangements generally do not and will not create an adviser-client relationship between the Adviser and any investor. The Funds or the General Partners have entered into side letters or other similar agreements (“Side Letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic or other terms) of, the Partnership Agreement with respect to such investors. Management of Client Assets As of December 31, 2023, the Adviser manages $10,937,543,849 of client assets on a discretionary basis and $64,319,883 on a non-discretionary basis.