Three levels of governance

1. Strategic

Supervisory Board

• Investment strategy
• Rules and procedures
• Approval of large transactions
• Approval of transactions for which a special permit was requested by Investment Committee

2. Investment

Investment Committee

• Approval of investment transactions

3. Operational

Chief Executive Officer and Executive Board

• Management team possesses significant investment experience
• Day-to-day guidance of investment origination, assessment, structuring and execution
• Hiring and management of investment team
• Preparation of recommendations for Supervisory Board and Investment Committee