CD PRIVATE EQUITY FUND II — Net Asset Value 2014

Jun 12, 2014

13 June 2014

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US Select Private Opportunities Fund II (Fund)

ASX: USG

NTA & Fund Update – 31 May 2014

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 31 May 2014 was $1.66* per Unit (30 April 2014 was $1.66* per Unit).

Fund update

Capital commitment

At 31 May 2014, US Select Private Opportunities Fund II, L.P. ( LP ) had called US$20.0 million (or 29.4% of capital committed). The Fund’s proportionate share is approximately US$17.0 million (an 85.2% share).

The LP committed US$8 million to Tower Arch Partners I, L.P , which has been established by Tower Arch Capital to acquire interests in privately held, lower-middle market companies. The fund will primarily focus on providing first institutional capital to founder and family-owned businesses located in the US. Inclusive of this, the LP has now committed a total of US$67.0 million (or 98.4% of total capital) in eight underlying investments.

Drawdowns

At 31 May 2014, net drawdowns requests from underlying investments were approximately US$16.1 million, or 23.7% 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.

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