CD PRIVATE EQUITY FUND II — Net Asset Value 2016

Feb 11, 2016

12 February 2016

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US Select Private Opportunities Fund II (Fund)

ASX Code: USG

NTA & Fund Update – 31 January 2016

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 31 January 2016 was $2.36* per unit (31 December 2015 was $2.31* per unit).

Fund update

Capital commitment

During the month, US Select Private Opportunities Fund II, L.P. ( LP ) made a US$8 million capital call to fund new investments. Inclusive of this, at 31 January 2016 the LP has called US$52.9 million (or 55.7% of capital committed). The Fund’s proportionate share is approximately US$46.2 million (an 87.3% share).

Drawdowns

During the month, the LP received drawdown requests from NMS Fund II, LP., RFE Investment Partners VIII, L.P., Staple Street Capital II, L.P. and U.S. Select Direct Private Equity (US), LP for a total net consideration of US$1.3 million.

At 31 January 2016, net drawdown requests from underlying investments were approximately US$42.3 million, or 44.5% of total funds committed to the LP.

Distribution from Limited Partnership

On 29 January 2016, the LP - the limited partnership through which the Fund makes investments in underlying private equity funds - distributed US$4m to its partners. The Fund’s share of this distribution was US$3.5 million dollars.

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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