Disciplined Investment Process

Having invested in private equity for over thirty-nine years, TD Capital has developed and refined the following five-step investment process for sourcing, evaluating, selecting, managing and exiting portfolio investments:

Origination and Initial Review
The Investment Team leverages its global industry network, and TD Capital's reputation and relationships, to generate a large number of attractive investment opportunities and to gain access to top-tier Fund Sponsors. The Investment Team proactively screens potential investments and conducts meetings with management teams.

Due Diligence
The Investment Team performs a detailed analysis of each high-potential investment opportunity, including an evaluation of each Fund Sponsor's investment strategy and process, management team and track record, and competitive positioning.

Investment Decision, Documentation and Closing
The members of the Investment Team prepare a detailed investment recommendation (which is reviewed with a Strategic Advisory Committee for further advice and input) and, upon approval by the Investment Committee, negotiate the terms and conditions of each investment.

Management and Monitoring
The Investment Team attends annual meetings, conducts quarterly portfolio reviews, reviews market trends and developments, and provides concise investor reports.

Exit and Distributions
The Investment Team determines an appropriate exit strategy for each investment, including the manner and timing of disposition. In general, the Fund seeks to liquidate any securities it receives promptly upon receipt.