| Traditional Private Equity | Core Equity Holdings |
| Value creation ambition / return profile PE incentive structure and liquidity |
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| “Asset management” business model Bias towards immediate focus on exit | Flexibility to invest over the long term Stable, patient, yet ambitious source of capital. |
| Limited follow-on capital available to support growth | Ability to re-invest significant follow-on capital throughout holding horizon to support growth ambitions of the management teams we partner with. |
| 10 – 15 deals per fund | No concentration limits focused on a handful of companies |
