The prospectus states the Fund seeks long-term capital appreciation. It invests at least 80% of net assets in Private Equity Investments (secondary purchases of fund interests and GP-led continuation vehicles, co-investments alongside sponsors, and primary fund commitments) and Alternative Investments (options-based defined outcome exposures and listed private equity vehicles), plus a liquidity sleeve of cash, Treasuries and options for repurchases and capital calls. Long-term targets are 40-60% secondaries, 30-50% co-investments and 5-15% primaries, focused on small and middle market buyouts. Leverage is expected at about 5% to 7.5% of assets.