Nepc Private Markets Investment Due Diligence Report

Penwood Select Industrial Partners VII Non-Core Real Estate TABLE OF CONTENTS Cover Page......... Executive Summary. Fund Characteristics ....... Firm Description........ Fund Investment Strategy... Fund Economics ....... ‒‒‒‒‒‒‒‒‒‒‒‒‒ Disclaimers and Disclosures....... Appendix: ESG Integration Evaluation........ Appendix: Manager Track Record........... NE PC 2 3 4 6 7 8 9 10 .Error! Bookmark not defined. CONFIDENTIAL INFORMATION - FOR NEPC CLIENT USE ONLY 1

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