CD PRIVATE EQUITY FUND II — Net Asset Value 2013

Jun 13, 2013

14 June 2013

==> picture [595 x 145] intentionally omitted <==

US Select Private Opportunities Fund II (Fund)

ASX: USG

NTA and Fund Update – 31 May 2013

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 31 May 2013 was $1.65* per Unit (30 April 2013 was $1.54 per Unit).

Fund update

The US Select Private Opportunities Fund II ( Fund ) is pleased to announce that the US Select Private Opportunities Fund II, LP ( LP ) has made its fourth commitment to date, a US$10 million commitment to Trive Capital Fund I, LP. See Appendix 1 for more details.

The LP has now committed a total of US$40 million (or 58.8% of total capital).

Capital call

At 31 May 2013, the LP had made one capital call for a consideration of US$10.0 million, representing 14.7% of capital committed. The Fund’s proportionate share of this is approximately US$8.5 million (an 85.5% share).

Drawdowns

At 31 May 2013, total drawdowns from underlying investments totalled approximately US$4.5 million, or 6.7% of total funds committed to the LP.

For more information, contact:

Alex MacLachlan 1300 454 801

*Source: Walsh & Company Investments Limited – historical performance is not a guarantee of the future performance of the Fund

The US Select Private Opportunities Fund II has a primary strategy of investing in US smallto-mid-market private investment funds, adopting a fund-of-funds strategy.

==> picture [595 x 69] intentionally omitted <==

==> picture [595 x 145] intentionally omitted <==

APPENDIX 1: TRIVE CAPITAL FUND I, L.P.

Trive Capital ( Trive ) is a Dallas, Texas-based private equity fund that is focused on acquiring strategically viable, but under-resourced middle-market companies with the potential for transformational upside through operational improvement. The firm’s vision is to utilise proven operational best practices and identify actionable opportunities that allow businesses, shareholders and employees to realise their full long-term potential.

Trive is disciplined in its approach, investing primarily in companies that meet the following key criteria:

• North American-based, lower middle-market companies with between US$40 million and US$500 million in revenue and generating breakeven or positive EBITDA

• Strategically well-positioned and differentiated companies with sustainable competitiveness

• Companies with the ability to achieve meaningful upside through identifiable and quantifiable initiatives

• Companies in asset-intensive industries where Trive can leverage its deep knowledge and past experiences to meaningfully improve operating performance.

Trive began investing in early 2013 and has already completed a control investment in Huron Inc., a vertically-integrated manufacturer providing a broad array of value added, system-critical components used primarily in engines and transmission power train systems.

==> picture [186 x 52] intentionally omitted <==

Investment: Huron Inc. Investment Date: February 22, 2013 Location: Lexington, Michigan Website: http://www.huroninc.com/

==> picture [595 x 69] intentionally omitted <==