List of 81 Unfunded Shareholder Liquidity Investors

Investor	PE Assets $mlns	Portfolio		M&A Activity Buy vs Sell, Last 5 Years
Investor	PE Assets $mlns	Total	Current	M&A Activity Buy vs Sell, Last 5 Years
Azalea Capital Greenville, South Carolina, United States Private Equity Firm • 1995 • website See all 3	-	24	7
PennSpring Capital Leola, Pennsylvania, United States Private Equity Firm • 2018 • website See all 2	-	10	6
Explore Equity Partners Oslo, Norway Private Equity Firm • 2016 • website See all 3	-	6	6
Hughes & Company Chicago, Illinois, United States Private Equity Firm • 2018 • website See all 9	-	6	5
Moira Capital Partners Madrid, Spain Private Equity Firm • 2017 • website See all 4	-	17	17
Lion Equity Partners Denver, Colorado, United States Private Equity Firm • 2007 • website See all 5	-	10	3
Navigator Capital Munich, Germany Private Equity Firm • 2016 • website See all 4	-	7	6
Bolster Investment Partners Amsterdam, Netherlands Private Equity Firm • 1982 • website See all 4	-	19	19
Burlington Capital Partners Chicago, Illinois, United States Private Equity Firm • website See all 2	-	2	2
Akoya Capital Partners, LLC Chicago, Illinois, United States Private Equity Firm • 2005 • website See all 19	-	27	13
Stonebridge London, United Kingdom Family Office • website See all 2	-	6	5
Torque Capital Group New York, New York, United States Private Equity Firm • 2011 • website See all 2	-	9	6
NB Aurora Private Equity Firm • website See all 7	-	14	13
Summit Equity Group Des Moines, Iowa, United States Private Equity Firm • 2004 • website See all 4	-	20	12
Upstream Capital Boston, Massachusetts, United States Private Equity Firm • 2015 • website See all 3	-	4	3
Calcium Capital Paris, France Private Equity Firm • website See all 6	-	7	6

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