TABLE OF CONTENTS 4 OUR STORY 10 REAL ASSETS European Real Estate Infrastructure Seniors Housing U.S. Real Estate 18 PRIVATE CAPITAL Credit Solutions European Growth Capital Growth Equity 24 ABSOLUTE RETURN Discovery Strategy 26 FUND ADMINISTRATION / MARKETING 28 HARBERT REALTY SERVICES 30 THE HERO FOUNDATION 32 CHAIRMAN’S NOTE 34 LEGAL NOTICE