Global Private Equity Funds

Northleaf currently manages five global private equity funds:

• Fund I (2002), the fund is fully committed and is currently in the value creation and realization phase of its investment program
• Fund II (2005), the fund is fully committed and is currently in the value creation and realization phase of its investment program
• Fund III (2007), the fund is currently in the final phase of its investment program
• Fund IV (2008), the fund is currently in the later phase of its investment program
• Fund V (2010), the fund held its first close in October 2010

Global Private Equity Portfolio Guidelines