CD PRIVATE EQUITY FUND II — Net Asset Value 2014

Oct 13, 2014

14 October 2014

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US Select Private Opportunities Fund II (Fund)

ASX Code: USG

NTA & Fund Update – 30 September 2014

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 30 September 2014 was $1.79* per Unit (31 August 2014 was $1.69* per Unit).

Fund update

Capital commitment

At 30 September 2014, US Select Private Opportunities Fund II, L.P. ( LP ) had committed US$72.0 million across 9 investment funds (or 75.7% of capital committed), all focused on smallto-mid-market private investment opportunities. The LP had called US$30.0 million (or 31.6% of capital committed), and the Fund’s proportionate share is approximately US$25.6 million (an 85.2% share).

Drawdowns

During September, the LP received drawdown requests from RFE Investment Partners VIII, L.P., High Road Capital Partners Fund II, L.P. and Tengram Capital Partners Gen2 Fund while also receiving a capital return from Trive Capital Fund I, L.P., for a total net consideration of approximately US$1.3 million.

At 30 September 2014, net drawdown requests from underlying investments were approximately US$23.6 million, or 24.8% of total funds committed to the LP.

For further information, contact:

Tom Kline 1300 454 801

• Source: Walsh & Company Investments Limited – historic 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 small-to-midmarket private investment funds, adopting a fund-of-funds investment strategy.

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