CD PRIVATE EQUITY FUND I — Net Asset Value 2014

Apr 13, 2014

14 April 2014

US Select Private Opportunities Fund (Fund)

ASX: USF

NTA & Fund Update – 31 March 2014

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 31 March 2014 was $1.64* per Unit (28 February 2014 was $1.70* per Unit).

Fund update

Capital commitment

At 31 March 2014, US Select Private Opportunities Fund, L.P. ( LP ) had called US$32.5 million (or 46.7% of capital committed). The Fund’s proportionate share is approximately US$27.8 million (an 85.5% share).

Drawdowns

During March, the LP received drawdown requests from Trivest Fund V, L.P., DFW Capital Partners IV, L.P., FPC Small Cap Fund I, L.P., Incline Equity Partners III, L.P. and U.S. Select Direct Private Equity (US), LP for a consideration of approximately US$3.5 million.

At 31 March 2014, net drawdown requests from underlying investments were US$20.8 million, or 30.0% of total funds committed to the LP.

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.