CD PRIVATE EQUITY FUND I — Net Asset Value 2013

Sep 12, 2013

13 September 2013

US Select Private Opportunities Fund (Fund)

ASX: USF

NTA & Fund Update – 31 August 2013

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 31 August 2013 was $1.72* per Unit (31 July 2013 was $1.71 per Unit).

Fund update

Capital calls

At 31 August 2013, the US Select Private Opportunities Fund, LP ( LP ) had called US$22.5 million (or 32.3% of capital committed). The Fund’s proportionate share is approximately US$19.2 million (an 85.5% share).

Drawdowns

During August, the LP received two drawdown requests, one from FPC Small Cap Fund I, LP ( FPC ) and one from DFW Capital Partners IV, LP ( DFW ) for a total consideration of approximately US$1.6 million. The funds will cover investments, management fees and fund expenses.

Inclusive of this, at 31 August 2013 the LP had received net drawdown requests from underlying investments of approximately US$14.7 million, or 21.1% of total funds committed to the LP.

Investment update

During August, US Select Direct Private Equity (US), LP ( US Direct ) completed its first investment, investing in the parent entity of Sebela International, Ltd and Sebela Pharmaceuticals, Inc. ( Sebela ), a newly-formed specialty pharmaceutical acquisition and licensing platform. The equity investment was made to support the acquisition of a portfolio of branded prescription pharmaceutical products serving the gastroenterology and dermatology markets. For more information see www.sebelapharma.com.

For more information, contact:

Alex MacLachlan 1300 454 801

*Source: Dixon Advisory & Superannuation Services Limited – historical performance is not a guarantee of the future performance of the Fund

The US Select Private Opportunities Fund was the first Australian-listed fund with a primary strategy of investing in US small-to-mid-market private investment funds, adopting a fund-of-funds investment strategy.