The Fund seeks long-term capital appreciation. The prospectus states it invests at least 80% of net assets in private or publicly traded sports, media and entertainment investments, directly and through private funds (Portfolio Funds). Private investments include private equity and private credit through primary commitments, secondary purchases and co-investments, with a significant initial allocation to vehicles managed by Arctos and Eldridge. A liquid sleeve of corporate bonds, ETFs and cash supports liquidity. The Fund is concentrated in the SME industries and non-diversified.