The Prospectus states the Fund's investment objective is "to deliver a combination of yield and capital appreciation." The Fund invests at least 80% of net assets in private assets, primarily interests in private Investment Funds run by unaffiliated Underlying Managers (primary and secondary purchases), plus co-investments, direct investments and direct loans across private equity, private credit and real estate. The stated look-through target is 50% private equity, 30% private credit, 10% real estate and 10% liquid investments, which may change opportunistically. At 6/30/2026 the N-CSR reports 42.1% private equity, 43.2% private credit, 14.1% secondary funds and 4.2% real estate, as percentages of net assets.