SCS Capital

Partners, LLC

Fund Investment Objectives

The objective of the SCS Capital Partners, LLC is to outperform the equity market over a complete market cycle with lower volatility, while maintaining low correlations to both the equity and bond markets. The Fund allocates to hedge funds that demonstrate a clear competitive edge in outperforming, uncorrelated strategies. The Fund is backed by institutional-quality infrastructure and processes. Our fund of hedge fund stands out for the following reasons: 1) Thoughtful portfolio construction, which includes deep analysis of managers' underlying holdings, ensures diversification and efficacy across strategies, sectors, geography and market capitalization 2) Global manager sourcing to identify and evaluate hedge fund managers in order to find superior established and emerging players across many strategies and geographies (40+ analyst days in Asia and Latin America in 2008 alone) 3) Active portfolio risk management through internally developed quantitative tools, multi-factor models, portfolio stress tests and option overlays that results in excellent capital preservation 4) Extensive investment and operations due diligence process with a balanced quantitative and qualitative approach. SCS does not invest with managers whose strategy we do not fully understand or who fail to provide adequate transparency, regardless of past performance 5) Systematic manager oversight through collection and verification of key metrics including sector and geographic exposures, cash levels, percent allocation to privates, counterparty risk, assets under management, redemptions and key organizational changes