The prospectus states the Fund seeks appropriate risk-adjusted long-term returns from a diversified portfolio of private equity investments. Secondary interests in mature third-party private equity funds (typically 4-8 years old, in or near harvest) are expected to be 70-100% of the portfolio, primary fund commitments 0-25%, and unpromoted co-investments in operating companies 0-20%; other alternative strategies may be 0-20%. Buyout secondaries may be up to 90%, other asset classes up to 30%, and non-U.S. holdings no more than 20%. The Fund may borrow for investment, liquidity and repurchases within the 1940 Act limits.