The Adviser, a Delaware limited partnership, and its affiliated entities provide investment advisory services to investment funds privately offered to qualified investors in the United States and elsewhere. The Adviser commenced operations in 2022. The Adviser will provide discretionary investment management services through its private fund clients, including NewVest Vintage 2022, LP, a Delaware series limited partnership (the “Main Fund”) and certain Cayman Islands exempted limited partnerships that invest alongside a corresponding Series (as defined below) of the Main Fund as a parallel fund thereof, including NewVest Vintage 2022 Feeder (PD50), LP and NewVest Vintage 2022 Feeder (PE 50), LP, (each, a “Cayman Fund” and, collectively with the Main Fund (or the corresponding Series) as the context requires, the “Fund” and, together with any future private investment fund to which the Adviser and/or its affiliates provide investment advisory services, the “Funds”). The general partner of the Fund, which is affiliated with the Adviser, is NewVest Vintage 2022 GP, LP (the “General Partner,” and collectively, together with any future affiliated general partner entities, the “General Partners,” and together with the Adviser and their affiliated entities, “NewVest”). The Fund’s “limited partners” are hereafter collectively referred to as the “investors” where appropriate. Each General Partner is subject to the Advisers Act pursuant to the Adviser’s registration in accordance with SEC guidance. This Brochure also describes the business practices of the General Partners, which will operate as a single advisory business together with the Adviser. The Main Fund is comprised of multiple series of limited partner interests (each, together with its associated parallel Cayman Fund, a “Series”) that each invest in a separate group of pooled investment entities of a particular vintage year or years, or specified target vintage period, that meet certain asset class classifications and are organized primarily to make underlying fund and/or other investments in which the relevant Fund has directly or indirectly invested, generally referred to herein as “Underlying Funds.” Each Series is designed to track the pooled return of a specific asset class by seeking to invest in available, qualifying Underlying Funds identified by the General Partner in a specific sector and vintage year or years (or specified vintage period) on a capital- weighted basis. NewVest’s investment advisory services to the Funds will consist of identifying and evaluating investment opportunities, negotiating the terms of investments, managing and monitoring investments and achieving dispositions for such investments and other securities and other property received as distributions from Underlying Funds. The Main Fund includes the following Series: o NewVest Vintage 2022, LP – Series PE 50; and o NewVest Vintage 2022, LP – Series PD 50. Funds in the future could include Series that target one or more of the same asset classes as the Main Fund, as well as Series that target investments in additional private markets asset classes, including, but not limited to, energy transition, real estate, infrastructure and healthcare. For purposes herein, unless otherwise specified, each reference to a “Series” also refers to any Cayman Fund that invests alongside the applicable Series of the Main Fund, as the context permits or requires such interpretation. Moreover, unless otherwise specified, each reference

to a “Fund” refers to each applicable Series thereof (on a Series-by-Series basis), as the context permits or requires such interpretation. NewVest’s advisory services to the Funds are detailed in the relevant private placement memoranda or other offering documents (each, a “Memorandum”), limited partnership or other operating agreements of the Funds (each, a “Partnership Agreement”), limited partnership or other operating agreements of each Series (each, a “Separate Series Agreement” and, together with any relevant Memorandum and Partnership Agreement, the “Governing Documents”) and are further described below under “Methods of Analysis, Investment Strategies and Risk of Loss.” 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 Governing Documents; for the avoidance of doubt, such arrangements generally do not and will not create an adviser-client relationship between NewVest and any investor. The General Partner is permitted to enter into separate side letter or other similar agreements (“Side Letters”) with investors in the Fund. Additionally, as permitted by the Governing Documents, NewVest may provide (or agree to provide) co-investment opportunities (including the opportunity to participate in co-invest vehicles) to certain current or prospective investors or other persons, including other sponsors, market participants, finders, consultants and other service providers, Underlying Fund management or personnel, NewVest personnel and/or certain other persons associated with NewVest and/or its affiliates (e.g., a vehicle formed by NewVest’s principals to co-invest alongside a particular Fund’s transactions), any commingled investment vehicle formed or advised by NewVest for a Fund’s subsequent vintage year or vintage period whose investment strategy and target investments are substantially similar to those of such Fund (together with any co- investment vehicles, parallel investment vehicles, alternative investment vehicles related thereto, a “Subsequent Fund”) or any investment fund, vehicle, account or arrangement formed or advised by NewVest with a primary investment objective to purchase limited partner interests in a Fund and/or any Subsequent Funds on the secondary market (such fund or vehicle, together with any successor fund and related investment vehicle thereto, a “Secondary Fund”). Such co-investments can involve investment and disposal of interests in the applicable Underlying Fund at the same time and on the same terms as the Fund making the investment. However, for strategic and other reasons, a co-investor or co-invest vehicle (including a co-investing Fund) may purchase a portion of an investment from one or more Funds after such Funds have consummated their investment in the Underlying Fund (also known as a post-closing sell-down or transfer), which generally will have been funded through Fund investor capital contributions and/or use of a Fund credit facility. As of December 31, 2023, NewVest manages $249,504,505 in client assets on a discretionary basis. NewVest UGP, LLC, a Delaware limited liability company, acts as the general partner of NewVest. The principal owners of NewVest are identified in Schedules A and B of NewVest’s Form ADV Part 1A (the “Principals”).