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State of Co-InvestmentsFig. 1: LPs Current Level of Co-Investment ActivityProportion of RespondentsActively Co-Investing40%Opportunistically Co-Investing36%Considering Co-Investing in the Future But Have Not Co-Invested Yet16%Not Co-Investing and No Plans to Co-Invest in the Future7%Fig. 2: Proportion of LPs Total Private Equity Portfolio Made Up of Co-Investments by Current Allocation to Private EquityProportion of Total Private Equity Portfolio Made Up by Co-InvestmentsAllocation to Private EquityLess than 2%2-5%6-10%11-20%More than 20%Up to $250mn31%26%14%14%14%$251mnto $500mn50%7%29%7%7%$501mnto $1bn11%16%26%11%37%$1.1bnto $5bn25%25%19%25%6%More than $5bn43%29%0%21%7%Fig. 3: GPs Views on the Benefits of Offering Co-Investment Rights to LPsProportion of RespondentsOther1%None4%Benefits the Portfolio Company7%Improves the Chance of a Successful Fundraise44%Access to Additional Capital for Deals51%Builds a Stronger Relationship with LPs76%Fig. 4: GPs Views on the Downside of Offering Co-Investment Rights to LPsProportion of RespondentsOther7%Co-Investors Have More Control over the Investment7%Additional Costs23%Negative Impact on Relationships with LPs that Are Not Offered Co-Investment Rights33%Slows/Delays Deals Process58%Fig. 5: Proportion of LPs Total Private Equity Portfolio Made Up of Co-InvestmentsProportion of RespondentsLess than 2%30%2-5%22%6-10%17%11-20%17%More than 20%13%Fig. 6: Proportion of LPs that Requested Co-Investment Rights During a GPs Most Recent FundraiseProportion of RespondentsLess than 2%30%2-5%22%6-10%17%11-20%17%More than 20%13%Fig. 7: LPs Preferred Approaches to Co-Investment OpportunitiesProportion of RespondentsUp to 25%64%26-50%27%51-75%7%More than 75%2%Fig. 8: LPs Perception of the Performance of Co-Investments Compared to Fund InvestmentsProportion of RespondentsCo-Lead7%Co-Sponsor16%Selective Follower55%Passive Follower23%Fig. 8: LPs Perception of the Performance of Co-Investments Compared to Fund InvestmentsProportion of RespondentsSignificantly Better Returns from Co-Investments52%Slightly Better Returns from Co-Investments33%Similar Returns from Co-Investments and Fund Investments14%Slightly Lower Returns from Co-Investments0%Significantly Lower Returns from Co-Investments0%Fig. 9: LPs Future Plans for Their Co-Investment ActivityProportion of RespondentsIncrease Co-Investment Activity52%Maintain Co-Investment Activity35%Decrease Co-Investment Activity1%Uncertain12%Fig. 10: GPs Future Plans for Co-Investment OfferingsProportion of RespondentsOffer More Opportunities31%Offer Same Number of Opportunities40%Offer Fewer Opportunities2%Uncertain27%Fig. 11: Number of LPs in Latest Fund with Co-Investment Rights Included in Limited Partner AgreementProportion of Respondents029%1 to 227%3 to 521%6 to 1014%11+9%Fig. 12: Proportion of LPs that Accepted Co-Investment Opportunities Offered by GPs in 20130%17%1-25%34%26-50%21%51-75%10%76-99%3%100%14%

State of Co-Investments

Fig. 1: LPs Current Level of Co-Investment Activity

Secondaries Transactions

Less than 2%2-5%6-10%11-20%More than 20%Current Allocation to Private EquityProportion of LP RespondentsFig. 2: Proportion of LPs Total Private Equity Portfolio Made Up of Co-Investments by Current Allocation to Private Equity

Industry News

Proportion of GP RespondentsFig. 3: GPs Views on the Benefits of Offering Co-Investment Rights to LPs

Women in PE

Proportion of GP RespondentsFig. 4: GPs Views on the Downside of Offering Co-Investment Rights to LPs

Investors' Allocations to PE

Proportion of LPs Private Equity PortfolioProportion of LP RepsondentsFig. 5: Proportion of LPs Total Private Equity Portfolio Made Up of Co-Investments

Buyout Deals

Proportion of LPs Private Equity PortfolioProportion of LP RepsondentsFig. 6: Proportion of LPs that Requested Co-Investment Rights During a GPs Most Recent Fundraise

Venture Capital Deals

Fig. 7: LPs Preferred Approaches to Co-Investment Opportunities

Q3 2013 Benchmarks

Proportion of LP RespondentsFig. 8: LPs Perception of the Performance of Co-Investments Compared to Fund Investments

Fund of Funds Managers

Proportion of LP RespondentsFig. 8: LPs Perception of the Performance of Co-Investments Compared to Fund Investments

Fig. 9: LPs Future Plans for Their Co-Investment Activity

Fig. 10: GPs Future Plans for Co-Investment Offerings

No. of LPsProportion of GP RespondentsFig. 11: Number of LPs in Latest Fund with Co-Investment Rights Included in Limited Partner Agreement

Proportion of LPsProportion of GP RespondentsFig. 12: Proportion of LPs that Accepted Co-Investment Opportunities Offered by GPs in 2013

Fig. 1: Annual Private Equity Secondaries Fundraising, 2004 - 2013Year of Final CloseNo. of Funds ClosedAggregate Capital Raised ($bn)2004239200514620061414200710132008157200921222010209201121102012162120132115Fig. 2: Average Size of Private Equity Secondaries Funds Closed, 2004 - 2013Year of Final CloseAverage Size ($mn)20043882005445200697720071,282200851920091,2352010551201158920121,4702013760Fig. 3: Largest Known Private Equity Fund Portfolio SalesSellerBuyer(s)Transaction YearPrice ($bn)IntermediaryCalifornia Public Employees' Retirement System (CalPERS)Conversus Asset Management, HarbourVest Partners, Jasper Ridge Partners, Lexington Partners, Pantheon20082.1UBS Investment Bank Private Funds GroupLnsfrskringarAbu Dhabi Investment Council, QIC20122.0Campbell LutyensGM Asset ManagementState Administration of Foreign Exchange20122.0-Lloyds Banking GroupColler Capital20122.0Campbell LutyensBAML Global Principal InvestmentsArdian20101.9Greenhill & Co.Citi Capital AdvisorsArdian20111.7Greenhill & Co.Lloyds Banking GroupColler Capital20121.7Campbell LutyensPublic Sector Pension Investment BoardUndisclosed20131.5Cogent PartnersCalifornia Public Employees' Retirement System (CalPERS)Undisclosed20121.5-Dresdner BankPineBridge Investments20051.4-Fig. 4: Top 10 Private Equity Secondary Fund Managers by Estimated Dry PowderFirmFirm CountryEstimated Dry Powder ($mn)Coller CapitalUK4.6Lexington PartnersUS4.3Goldman Sachs AIMS Private EquityUS3.9ArdianFrance3.4HarbourVest PartnersUS3.0Partners GroupSwitzerland2.1Neuberger BermanUS1.8LGT Capital PartnersSwitzerland1.7Strategic Partners Fund SolutionsUS1.3Newbury PartnersUS1.2Fig. 5: Recent Examples of Non-Traditional Secondaries TransactionsBuyerSelling Fund/FirmDateDeal TypeDeal DescriptionMorgan StanleyFFC Partners IIISep-13Fund RestructuringMorgan Stanley bought into Ferrer, Freeman & Cos FF&C III fund in a deal 100% approved by the funds existing LPs. An extension to the fund's life was agreed.HarbourVest PartnersElectra European Fund IIJan-14Fund RestructuringHarbourVest Partners provided liquidity to around 20 investors in Electra European Fund II. The fund's life was extended by four years with allowance for two or three more deals.HarbourVest Partners, Coller CapitalAbsa Capital Private Equity Fund IDec-13Spin-outHarbourVest and Coller Capital bought out Barclays Africa Group's interest in Absa Capital Private Equity Fund I to complete the spin out of Absa Private Equity creating Rockwood Private Equity.Landmark PartnersHM CapitalMar-13Spin-outThe energy team of private equity firm HM Capital spun-out to form new co. Tailwater Capital. The spin-out was assisted by secondaries firm Landmark Partners with the purchase of HM Capital's legacy energy portfolio.Unigestion, Sobera CapitalBayTech Venture Capital Fund INov-13Direct SecondariesSobera Capital, backed by Unigestion, completed the acquistion of a portfolio of companies from BayTech Venture Capital's first fund.

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No. of Funds ClosedAggregate Capital Raised ($bn)Year of Final CloseFig. 1: Annual Private Equity Secondaries Fundraising, 2004 - 2013

Average Size ($mn)Year of Final CloseAverage Fund Size ($bn)Fig. 2: Average Size of Private Equity Secondaries Funds Closed, 2004 - 2013

Chart of the Month: LP Plans for Co-Investment Activity by Investor LocationUncertainDecrease Co-Investment ActivityMaintain Co-Investment ActivityIncrease Co-Investment ActivityEurope14%0%40%46%North America12%1%36%51%Asia22%0%11%67%Rest of World0%0%38%63%

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UncertainDecrease Co-Investment ActivityMaintain Co-Investment ActivityIncrease Co-Investment ActivityProportion of LP RespondentsChart of the Month: LP Plans for Co-Investment Activity by Investor Location

Fig. 1: Female Senior Employees as Proportion of Total Number of Senior Employees by Firm Location, 2013 - 201420132014Asia12.8%11.8%Europe9.9%9.7%North America10.3%11.0%Rest of World9.8%10.0%Fig. 2: Female Senior Employees as Proportion of Total Number of Senior Employees by Firm Strategy, 2012 - 2014201220132014Buyout6.9%8.7%9.0%Infrastructure13.5%10.5%11.7%Real Estate12.0%11.3%12.8%Venture Capital9.7%11.2%11.2%Fig. 3: Female Senior Employees as Proportion of Total Number of Senior Employees, 2012 - 20142012201320141 to 59.2%8.7%8.4%6 to 1010.4%10.6%10.8%11 to 209.3%10.7%11.5%More than 209.9%11.9%11.9%

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20132014Firm LocationAverage Proportion of Female Senior EmployeesFig. 1: Female Senior Employees as Proportion of Total Number of Senior Employees by Firm Location

201220132014Firm StrategyAverage Proportion of Female Senior EmployeesFig. 2: Female Senior Employees as Proportion of Total Number of Senior Employees by Firm Strategy, 2013 - 2014

201220132014Number of Senior Employees at FirmAverage Proportion of Female Senior EmployeesFig. 3: Female Senior Employees as Proportion of Total Number of Senior Employees, 2013 - 2014

Fig. 1: Average Current Private Equity Allocation by Investor Type (As a % of AUM)20132014Family Office24.5%28.0%Endowment Plan12.9%12.9%Foundation11.7%11.6%Public PensionFund6.3%6.2%Superannuation Scheme6.0%6.5%Private Sector Pension Fund5.6%5.7%Insurance Company2.6%2.7%Fig. 2: Average Private Equity Target Allocation by Investor Type (As a % of AUM)20132014Family Office28.9%31.7%Endowment Plan12.4%13.0%Foundation12.0%11.9%Public Pension Fund7.1%7.3%SuperannuationScheme7.7%6.4%Private Sector Pension Fund6.3%6.3%Insurance Company3.1%3.3%Fig. 3: Investors' Intentions for Their Private Equity Allocations in the Longer TermProportion of RespondentsIncrease Allocation39%Maintain Allocation53%Decrease Allocation8%Fig. 4: Sample LPs That Have Increased Their Private Equity Allocations In The Last 12 monthsInvestor NameTypeCountryDescriptionNorth East Scotland Pension FundPublic Pension FundScotlandIn November 2013, the 2.6bn pension fund decided to increase its current and target allocation, which stood at 5% of total assets at the time. It planned to continue targeting fund of funds vehicles focusing on opportunities in North America and Europe.Debswana Pension FundPrivate Sector Pension FundBotswanaThe $500mn pension fund is looking to commit around $13mn to private equity over the coming year, as part of a three year plan to increase its current allocation to the asset class to 7.5% of total assets. It will consider a wide range of fund types including buyout, venture capital, mezzanine and fund of funds vehicles.Harvard Management CompanyEndowment PlanUSIn April 2013, the $32.7bn endowment plan increased its target allocation to private equity from the 23% goal set in 2005, to 29% of total assets. Thirteen percent of the target will be allocated to natural resources vehicles.

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20132014Investor TypeAverage Current Private Equity Allocation(As a % of AUM)Fig. 1: Average Current Private Equity Allocation by Investor Type (As a % of AUM)

20132014Investor TypeAvergae Private Equity Target Allocation(As a % of AUM)Fig. 2: Average Private Equity Target Allocation by Investor Type (As a % of AUM)

Fig. 3: Investors' Intentions for Their Private Equity Allocations in the Longer Term

Fig 1: Proportion of Number of Private Equity-Backed Buyout Deals by Region, 2006 - 2013USEuropeAsiaRest of World200649%37%6%8%200747%35%9%9%200845%38%7%10%200951%30%8%11%201048%35%9%8%201148%34%9%9%201251%29%10%10%201349%31%9%11%Fig 2: Aggregate Value of Private Equity-Backed Buyout Deals by Region, 2006 - 2013 ($bn)USEuropeAsiaRest of World2006442.5180.417.633.62007390.0193.527.855.1200876.379.018.719.2200947.929.322.07.32010118.574.918.718.12011119.095.625.125.72012151.570.726.716.32013166.977.220.917.3Fig 3: Proportion of Number of US Private Equity-Backed Buyout Deals by US State, 2006 - 201320062007200820092010201120122013California14%12%13%12%12%13%14%14%Texas9%10%10%10%11%11%12%12%New York8%6%8%8%8%8%5%8%Florida6%6%6%7%6%5%5%6%Illinois5%5%5%4%5%6%6%4%Ohio5%5%4%2%4%4%3%3%Pennsylvania4%4%5%5%4%4%5%4%New Jersey4%4%4%3%3%4%3%4%Massachusetts4%3%3%4%4%3%4%4%Georgia3%4%3%4%3%3%4%3%Other38%41%39%41%41%38%39%38%Fig. 4: Proportion of Number of US Private Equity-Backed Buyout Deals by Industry by US State, 2006 - 2013CaliforniaTexasNew YorkFloridaIllinoisOhioPennsylvaniaNew JerseyMassachusettsGeorgiaOtherIndustrials21%25%14%22%33%40%30%26%20%30%33%Consumer & Retail17%11%21%16%12%13%9%16%13%15%13%Information Technology17%9%10%11%12%7%10%11%16%10%10%Business Services16%11%26%19%17%11%14%13%16%21%14%Healthcare10%10%8%18%12%13%18%19%20%12%12%Telecoms & Media8%4%12%5%5%4%4%5%6%6%5%Food & Agriculture7%3%4%2%4%4%3%5%4%2%4%Clean Technology2%1%1%1%1%1%1%1%0%1%1%Energy & Utilities1%24%2%2%2%1%5%1%4%2%5%Other2%2%1%3%3%6%5%2%0%3%3%Fig 5: US Private Equity-Backed Exits by Type, Q1 2006 - Q4 2013IPORestructuringSale to GPTrade SaleAggregate Exit Value ($bn)2006Q1202194813.8Q2221375916.9Q3113334610.3Q425315421.92007Q113395719.4Q2231466941.9Q3112377325.4Q415386725.12008Q131117524.6Q276245742.7Q341028506.6Q431515268.32009Q1255321.6Q261612314.5Q381013273.9Q42320134419.02010Q1146174911.5Q2114297033.9Q3118375528.6Q43011478336.62011Q1225326532.8Q2247388139.4Q368418121.4Q41710427323.02012Q12111408521.7Q2199369836.2Q3254469553.8Q41426911640.62013Q1244268519.1Q23510327953.0Q3184548336.2Q42834910956.7

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USEuropeAsiaRest of WorldProportion of TotalFig 1: Proportion of Number of Private Equity-Backed Buyout Deals by Region, 2006 - 2013

USEuropeAsiaRest of WorldAggregate Deal Value ($bn)Fig 2: Aggregate Value of Private Equity-Backed Buyout Deals by Region, 2006 - 2013 ($bn)

CaliforniaTexasNew YorkFloridaIllinoisOhioPennsylvaniaNew JerseyMassachusettsGeorgiaOtherProportion of TotalFig 3: Proportion of Number of US Private Equity-Backed Buyout Deals by US State, 2006 - 2013

IndustrialsConsumer & RetailInformation TechnologyBusiness ServicesHealthcareTelecoms & MediaFood & AgricultureClean TechnologyEnergy & UtilitiesOtherProportion of TotalFig. 4: Proportion of Number of US Private Equity-Backed Buyout Deals by Industry by US State, 2006 - 2013

IPORestructuringSale to GPTrade SaleAggregate Exit Value ($bn)No. of ExitsAggregate Exit Value ($bn)Fig 5: US Private Equity-Backed Exits by Type, Q1 2006 - Q4 2013

Fig. 1: Number and Aggregate Value of Software & Related Deals, Q1 2007 - Q1 2014 YTD* (As at 03 March 2014)QuarterNo. of DealsAggregate Deal Value ($bn)2007Q12311.44Q22411.54Q31911.32Q41951.012008Q12521.89Q22341.36Q32141.55Q41960.852009Q11690.69Q21920.84Q31840.66Q42351.392010Q12200.83Q22341.39Q32051.30Q42231.262011Q12131.43Q22821.63Q32641.77Q42421.432012Q12591.30Q23561.60Q33341.92Q43751.792013Q13882.02Q24162.00Q33792.25Q43354.242014Q12863.18Fig. 2: Number and Aggregate Value of Software & Related Deals as a Proportion of all Venture Capital Deals, 2007 2014 YTD* (As at 01 March 2014)Proportion of No. of DealsProportion of Aggregate Deal Value200718%12%200817%12%200916%11%201015%10%201116%10%201218%14%201322%21%2014 YTD (03 Mar)17%13%Fig. 3: Proportion of Number and Aggregate Value of Software & Related Deals by Region, 2007 - 2014 YTD* (As at 03 March 2014)Proportion ofNo. of DealsProportion of Aggregate Deal ValueNorth America73%80%Europe18%12%Greater China2%3%Israel2%2%India2%1%Other3%2%Fig. 4: Top 5 Software & Related Venture Capital Deals, 2013 -2014 YTD* (As at 01 March 2014)Portfolio Company NameStageDeal DateDeal Size (mn)InvestorsLocationSupercellUnspecified RoundOct-131,530.00 USDGungho Online Entertainment, SoftbankFinlandAirWatchSeries A/Round 1Feb-13200.00 USDInsight Venture PartnersUSPalantir TechnologiesUnspecified RoundSep-13196.50 USDThe Founders Fund ManagementUSSevOneGrowth Capital/ExpansionJan-13150.00 USDBain CapitalUSMongoDB, Inc.Unspecified RoundOct-13150.00 USDAltimeter Capital, Intel Capital, New Enterprise Associates, Red Hat, Inc., Salesforce.com, Sequoia Capital, T Rowe PriceUS*Figures exclude add-ons, grants, mergers, secondary stock purchases and venture debt

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Proportion of No. of DealsProportion of Aggregate Deal ValueProportion of All Venture Capital DealsFig. 2: Number and Aggregate Value of Software & Related Deals as a Proportion of all Venture Capital Deals, 2007 2014 YTD* (As at 01 March 2014)

North AmericaEuropeGreater ChinaIsraelIndiaOtherProportion of TotalFig. 3: Proportion of Number and Aggregate Value of Software & Related Deals by Region, 2007 - 2014 YTD* (As at 03 March 2014)

No. of DealsAggregate Deal Value ($bn)No. of DealsAggregate Deal Value ($bn)Fig. 1: Number and Aggregate Value of Software & Related Deals, Q1 2007 - Q1 2014 YTD* (As at 03 March 2014)

Fig. 1: Preqin All Private Equity Preliminary Benchmark as of 30 September 2013*Median FundDPI Quartiles (%)RVPI Quartiles (%)Net Multiple Quartiles (X)Net IRR Quartiles (%)Net IRR Max/Min (%)VintageNo. FundsCalled (%)Dist (%) DPIValue (%) RVPIQ1MedianQ3Q1MedianQ3Q1MedianQ3Q1MedianQ3MaxMin2013659.80.095.80.00.00.0102.295.882.01.01.00.8n/mn/mn/mn/mn/m201211426.50.098.16.00.00.0110.098.183.91.11.00.9n/mn/mn/mn/mn/m201117241.51.2102.110.91.20.0113.7102.188.01.21.11.0n/an/an/an/an/a201012371.310.4105.031.810.40.0117.0105.087.81.41.21.118.211.56.766.9-26.0200910283.020.9100.041.020.96.0118.1100.083.71.51.31.119.113.87.0448.0-10.2200822085.029.291.456.029.212.9109.091.473.51.51.31.115.810.36.052.0-26.1200723189.034.388.359.034.317.0104.188.365.21.41.31.112.78.34.048.9-74.6200623593.946.379.472.646.325.4102.479.456.61.51.31.111.07.22.833.3-25.3200519297.065.058.4102.365.035.186.858.435.51.51.31.111.47.04.067.0-100.0200410697.789.046.5132.089.046.572.646.514.71.81.41.116.68.62.179.8-26.020039199.6120.923.7167.9120.984.757.023.75.31.81.61.322.212.56.959.4-28.5200278100.0136.318.0174.4136.399.443.118.00.31.91.61.424.313.88.967.1-12.4200110799.0147.914.5198.9147.999.138.014.51.02.21.61.424.212.97.394.0-16.3200015399.0140.212.9182.1140.292.525.412.90.02.01.61.220.511.83.873.0-96.0Fig. 2: Median Net IRRs - All Private Equity, Buyout and Venture Capital as of 30 September 2013Net IRR Quartiles (%)VintagePreqin All Private Equity BenchmarkPreqin Buyout BenchmarkPreqin Venture Capital Benchmark200011.823.02.7200112.930.96.3200213.820.74.2200312.519.77.920048.619.92.720057.010.56.420067.28.78.020078.312.09.0200810.311.213.9200913.811.88.1201011.510.25.6Fig. 3: Regional Comparison of Median Net Multiple by Vintage as of 30 September 2013VintageNorth AmericaEuropeAsia20031.541.641.6720041.341.521.6020051.331.271.3620061.331.261.3020071.341.171.3220081.281.171.2220091.321.171.0520101.241.151.3220111.111.021.0520121.041.001.0520130.970.980.77*Preqins Performance Analyst contains performance data for over 6,700 private equity funds. The data used above is based on preliminary data as of Q3 2013, and is therefore based on a smaller pool of funds.

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11.8232.712.930.96.313.820.74.212.519.77.98.619.92.7710.56.47.28.788.312910.311.213.913.811.88.111.510.25.6

Preqin All Private Equity BenchmarkPreqin Buyout BenchmarkPreqin Venture Capital BenchmarkVintage YearMedian Net MultipleFig. 2: Median Net IRRs - All Private Equity, Buyout and Venture Capital as of 30 September 2013

1.541.641.671.341.521.61.331.271.361.331.261.31.341.171.321.281.171.221.321.171.051.241.151.321.111.021.051.0411.050.970.980.77

North AmericaEuropeAsiaVintage YearMedian Net MultipleFig. 3: Regional Comparison of Median Net Multiple by Vintage as of 30 September 2013

Fig. 1: Proportion of Private Equity Fund of Funds Managers that Consider Co-Investment OpportunitiesProportion of Fund of Funds ManagersConsider Offering Co-Investment Opportunities1%Do Not Offer Co-Investment Opoortunities29%Offer Co-investment Opportunities70%Fig. 2: Private Equity Fund of Funds Managers that Consider Co-Investment Opportunities By Manager LocationProportion of Fund of Funds ManagersNorth America50%Europe35%Asia10%Rest of World5%Fig. 3: Largest Private Equity Co-Investment Multi-Manager Vehicles Currently in Market (As at 03 March 2014)Fund NameFirmTarget Size ($mn)Fund StatusHamilton Lane Co-Investment Fund IIIHamilton Lane1,000RaisingAXA Co-Investment Fund IVArdian490Third CloseBlackRock Private Opportunities Fund IIIBlackRock Private Equity Partners300First CloseCapital Dynamics Mid-Market Direct IIICapital Dynamics250RaisingPerformance Direct Investments IIIPerformance Equity Management200RaisingRCP Direct IIRCP Advisors200RaisingFig. 4: Five Largest Private Equity Co-Investment Multi-Manager Vehicles Closed, All TimeFund NameFirmFinal Value ($mn)VintageAlpInvest Co-Invest VAlpInvest Partners1,6382012Co-Investment Partners IIILexington Partners1,5802012Hamilton Lane Co-Investment Fund IIHamilton Lane1,1922007NB Co-Investment Partners IINeuberger Berman1,1002012AXA Co-investment Fund IIIArdian1,0702007

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Fig. 1: Proportion of Private Equity Fund of Funds Managers that Consider Co-Investment Opportunities

Fig. 2: Private Equity Fund of Funds Managers that Consider Co-Investment Opportunities By Manager Location

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