Investor Presentaiton
CONFIDENTIAL
12
22
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Investment Process - Sourcing & Screening
Proprietary underwriting process evaluates transactions using a bottom-up
and top-down approach to value assets, cash flows, and sensitives.
1 Information Funnel
3 Expected Transaction-level Cash Flows
Industry
Research
Real Time
GP
Updates
2
Deal Engine
Asset
Level
Diligence
Manager
Evaluation
سرا
Asset
Financials
$3,459.1
$4,664.9
$4,669.6
$3,903.7
$5,366.9
$3,521.5
$3,875.8
$5,061,9
$5,800.5
$5,851.2
$6,390.7
$3,611.7
$4,156.4
Transaction
Pricing
4
Dec-24
Mar-25
Jum-25
Sep-25
Dec-25
Mar-20
Jun-26
Sep-26
Dec-26
Mar-27
Jun-27
Sep-27
Dec-27
Gross Cash Flows Net Cash Flows
Illustrative Sensitivity Testing &
CAPM Analysis (1)
Distribution Timing Sensitivity
Cash Flow Delay
+0 Months
IRR %
14.0%
CAPM Framework
+6 Months
+12 Months CAPM Assumptions
Rf:
4.8%
+18 Months
Market Return (Rm):
+24 Months Market Risk Premium (Rm
Recession Scenario Sensitivity
Total Proceeds Scalng
MOIC
IRR %
Beta:
Expected Return:
No Recession
1.65x
18.0%
Alpha (excess generation)
Mild Recession (Base Case)
1.45x
14.0%
Severe Recession
1.25x
10.0%
(1) The figures included in the Sensitivity Testing & CAPM Analysis are provided for illustrative purposes only, do not represent actual or target performance
figures for any underlying transaction and should not be viewed as an indicator of future performance.View entire presentation