The prospectus states a total return objective pursued through an approach modeled on the "Endowment Model": broad diversification across alternative asset classes and high allocations to illiquid private equity, private credit, real estate and venture capital. The Adviser invests mainly through third-party private funds, co-investments and secondary interests, supplemented by registered closed-end funds and short-term instruments. At 3/31/2026 the portfolio was 50.4% private equity and venture capital, 25.2% private debt and credit and 11.4% private real estate; 87.21% of net assets were illiquid. The Fund may borrow up to one-third of total assets and may use derivatives and short sales; no borrowings were outstanding.