Mesirow Private Equity

($ in millions) Core Strategy Torus Insurance Holdings Limited 21st Century Oncology Holdings, Inc. Pivot3, Inc. Private Bancorp, Inc. VWR International Notes on Performance Data Core Co-Investment Track Record as of 6/30/2021¹ (Continued) OpenPages, Inc. Coradiant Inc. Modular Space Corporation Univision Communications, Inc. Vendavo, Inc. Neutral Tandem, Inc. GFA Brands, Inc. Ubiquity Brands Holdings, LLC Westar Aerospace and Defense Group, Inc. Med-i-Bank, Inc. Springs Industries, Inc. Springs Global Participacoes S.A. SmithBucklin Corporation TriMas Corporation ATT Holding Co. Recourse Technologies, Inc. Collins & Aikman Corporation Discontinued Strategies CENX, Inc. Serious Energy, Inc. Tolerx, Inc. Adam Aircraft Industries, Inc. Antenna Software, Inc. (Dexterra, Inc.) Gustafson Holdings Corp. 1. 2. 3. 4. Sponsor First Reserve, Corsair Capital Vestar Capital Partners InterWest, Lightspeed GTCR Madison Dearborn Sigma Ventures Doll Capital Management Calera Capital Madison Dearborn, Providence, TPG 25 MESIROW PRIVATE EQUITY Doll Capital Management Doll Capital Management, NEA TSG Consumer Partners Willis Stein Edgewater Wind Point Partners Heartland Industrial Partners Heartland Industrial Partners Svoboda Collins, LLC Heartland Industrial Partners Wind Point Partners Doll Capital Management Heartland Industrial Partners Doll Capital Management NEA HealthCare Ventures Doll Capital Management Canaan Partners, NEA Lead sponsored buyout Type Growth Equity Buyout Late-Stage VC Growth Equity Buyout Late-Stage VC Late-Stage VC Buyout Buyout Late-Stage VC Late-Stage VC Buyout Buyout Growth Equity Growth Equity Buyout Buyout Buyout Buyout Buyout Late-Stage VC Buyout Date of Investment Total Core Strategy (Gross) Estimated Net (Core) Early-Stage VC Early-Stage VC Jun-10 Feb-08 Dec-07 Dec-07 Jun-07 Jun-07 May-07 Mar-07 Mar-07 Jul-05 Nov-04 Mar-04 Feb-04 Dec-03 May-03 Feb-03 Feb-03 Aug-02 Jul-02 Feb-02 Jan-02 Dec-01 Discontinued Strategies Total (Core and Discontinued) Estimated Net (Core and Discontinued) Early-Stage VC Early-Stage VC Early-Stage VC Buyout Jul-10 Aug-09 Aug-06 Jun-06 Jan-06 Jan-05 Total Discontinued Strategies (Gross) Estimated Net (Discontinued) Investment $15.0 14.0 18.1 15.0 15.1 7.5 8.0 10.1 1.2 8.2 3.7 5.0 2.9 3.8 3.5 3.0 2.8 5.0 3.5 2.8 2.5 5.0 $903.7 $831.2 $61.2 $964.9 $891.8 $12.5 15.0 5.0 14.5 9.1 5.1 61.2 $60.6 Realized Proceeds Unrealized Value Total Value² $8.4 16.6 33.9 12.8 16.0 0.3 0.2 15.4 35.6 34.3 11.7 16.1 5.5 0.7 19.2 3.7 10.8 5.0 $1,437.0 $1,172.8 $10.8 $1,447.8 $1,179.5 $7.4 1.3 1.7 0.1 0.3 - 10.8 $6.7 $- III |||| $813.9 $755.7 $- $813.9 $755.7 IIII. Mesirow $- $8.4 16.6 33.9 12.8 16.0 0.3 0.2 15.4 35.6 34.3 11.7 16.1 5.5 0.7 19.2 3.7 10.8 5.0 $2,250.9 $1,928.6 $10.8 $2,261.7 $1,935.3 $7.4 1.3 1.7 0.1 0.3 - 10.8 $6.7 MOIC3 0.6x 0.0x 0.0x 1.1x 2.2x 1.7x 2.0x 0.0x 0.1x 1.9x 9.5x 6.9x 0.0x 3.1x 4.5x 1.9x 0.3x 3.8x 1.1x 3.9x 2.0x 0.0x 2.5x 2.3x 0.2x 2.3x 2.2x 0.6x 0.1x 0.3x 0.0x 0.0x 0.0x 0.2x 0.1x Gross IRR4 -11.4% -100.0% -78.0% 1.5% 9.0% 16.5% 17.4% -28.2% -13.9% 7.4% 78.0% 83.6% -100.0% 293.4% 100.4% 8.8% -23.4% 74.1% 0.6% 78.5% 158.4% -100.0% 30.7% 24.7% -19.2% 24.3% 19.5% -8.3% -37.1% -17.6% -88.8% -46.3% -100.0% -19.0% -19.0% Core Strategy includes all buyout, growth equity and late-stage venture capital co-investments since inception of the strategy in 2001. Discontinued Strategies represents all early-stage venture capital co-investments (5) and lead sponsored buyout investments (1) since the establishment of the aforementioned strategy. The total value of unrealized investments was determined by the fund's general partner in accordance with the fund's valuation policies. Actual realized returns on unrealized investments will depend on a number of factors (including future operating results, the value of the assets and market conditions at the time of disposition, any related transaction costs and the timing and manner of sale) that may differ significantly from the assumptions used in determining the unrealized values. Accordingly, the actual realized returns on these unrealized investments may differ materially from the unrealized returns indicated herein. MOIC represents multiple on invested capital, calculated by dividing the investment's cumulative distributions and unrealized value by the total invested capital. Accordingly, it is not reduced by fees incurred by the fund. Gross IRR is net of the sponsor's fees, expenses and carried interest, but gross of the fees and other expenses of MFPEA. Performance information that is provided gross of fees does not reflect the deduction of advisory fees. Client returns will be reduced by such fees and other expenses that may be incurred in the management of the account. Advisory fees are described in Part 2A of Form ADV of MFPEA, Inc. Unaudited returns as of 6/30/2021. Please see "Notes on Performance Data" section for net performance and an explanation of how Estimated Net performance is constructed and the disclosure page at the end of this presentation for additional important information. Past performance is not indicative of future results. Numbers may not add due to rounding. TRADE SECRET, CONFIDENTIAL AND PROPRIETARY FOR INSTITUTIONAL USE ONLY

View entire presentation