All Private Equity Benchmark Report

Preqin Private Equity Benchmarks: All Private Equity Benchmark Report

As of 30 September 2009 Preqin Private Equity Benchmarks: All Private Equity Benchmark Report

As of 30th September 2009

Report Produced on 9th March 2010

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As of 30th September 2009

Report Produced on 9th March 2010

Contents: Median Benchmark - All Regions All Private Equity - As of 30th September 2009...... p.4 Median Benchmark - North American All Private Equity - As of 30th September 2009...... p.6 Median Benchmark - European All Private Equity - As of 30th September 2009...... p.8 Weighted Benchmark - All Regions All Private Equity - As of 30th September 2009...... p.10 Pooled Benchmark - All Regions All Private Equity...... p.12 Horizon IRR Benchmark – All Regions All Types...... p.13 Performance Analyst Online...... p.16 List of Constituent Funds ...... p17

Preqin Private Equity Benchmarks ® are calculated using performance information available from our online Performance Analyst database, the world’s most extensive, transparent database of private equity fund performance. Users of the online database have access to all of the underlined fund performance data used to calculate these benchmarks. With performance for over 4,900 private equity funds, the Performance Analyst online database is regularly updated and fully searchable. Further information can be found at www.preqin.com.

All the performance ﬁgures used to generate the Preqin Private Equity Market Benchmarks are net position to investor – i.e. all commitments, contributions, distributions, remaining values and IRRs are all based on the net position for the institutional investor before tax but after the management fees and carry of the General Partner.

The Preqin All Private Equity Market Benchmark is based on performance data for 1,906 funds of vintages 1980 to 2008. Preqin gathers fund returns information from a very wide and diverse range of sources, including public institutions via freedom of information legislations, published reports of a number of listed fund of fund vehicles and GP Voluntary contributions. The sheer extent of the data sources that we now use provides many opportunities to crosscheck and verify data for an individual partnership from different sources, and increases our conﬁdence in the data.

A growing number of GPs has concluded that it is in their best interests to voluntarily share information on their partnerships: given that many prospective investors are seeing this information, it is better that they should have access to the most current and accurate figures possible. Even where data comes direct from the GP, however, our aim is still to show the net position for LPs, after management fees and carry. We are again very grateful to the significant number of GPs who now share data with us in this way, currently 800 GPs are contributing data on their funds. If you would like further details on contributing information on your firm please contact us. Preqin Private Equity Benchmarks: All Private Equity Benchmark Report

Preqin Median Benchmarks: All Regions All Private Equity as of 30th September 2009

Median Fund Multiple Quartiles IRR Quartiles IRR No. Vintage Funds Dist(%) Value(%) Called(%) Q1 Median Q3 Q1 Median Q3 Max Min DPI RVPI 2008 115 20.7 0.0 82.2 0.97 0.85 0.74 n/m n/m n/m n/m n/m 2007 156 37.7 0.0 79.9 0.95 0.81 0.71 -5.1 -16 -27.4 76.8 -99.5 2006 140 62.5 1.4 77.4 0.96 0.83 0.73 -3.2 -10.5 -18.3 34.4 -75.6 2005 131 80.7 12.0 81.5 1.18 0.97 0.85 7.6 -2.1 -8.9 76.9 -34.9 2004 79 88.0 29.8 77.0 1.48 1.08 0.90 15.9 4.4 -4.5 91.4 -22.9 2003 62 90.1 64.2 69.8 1.64 1.36 1.07 22.3 13.8 1.9 88.5 -60.7 2002 75 94.5 72.0 58.3 1.78 1.33 1.09 25.9 11.3 3.0 79.9 -25.0 2001 93 98.0 75.3 47.1 1.76 1.36 0.97 21.6 8.9 -1.6 95.8 -29.3 2000 117 97.0 75.7 40.0 1.64 1.25 0.92 16.7 5.2 -1.9 34.7 -25.7 1999 68 97.6 90.2 21.2 1.55 1.26 0.77 11.0 4.9 -4.0 39.7 -23.6 1998 78 100.0 127.6 3.6 1.76 1.40 0.94 16.1 7.7 -1.4 1025.1 -46.1 1997 68 100.0 160.2 0.0 2.68 1.68 1.29 32.6 14.1 6.3 213.0 -35.0 1996 54 100.0 157.1 0.0 2.21 1.60 1.33 27.8 12.5 6.6 147.4 -33.3 1995 56 100.0 178.3 0.0 2.55 1.78 1.34 33.6 19.0 9.2 447.4 -19.9 1994 59 100.0 185.6 0.0 2.47 1.88 1.36 37.4 18.9 9.5 92.2 -35.7 1993 54 100.0 238.0 0.0 3.27 2.38 1.75 36.6 21.7 12.9 87.4 -8.4 1992 53 100.0 176.8 0.0 2.53 1.77 1.36 28.7 17.5 6.7 110.4 -49.9 1991 42 100.0 219.2 0.0 3.06 2.19 1.70 28.2 17.9 11.1 346.4 -0.5 1990 68 100.0 197.8 0.0 2.53 1.98 1.42 24.0 16.5 8.4 74.4 -35.9 1989 75 100.0 228.4 0.0 3.40 2.30 1.63 31.9 16.8 11.1 198.5 -42.1 1988 51 100.0 205.4 0.0 2.57 2.05 1.61 27.7 13.7 9.7 54.5 -9.3 1987 47 100.0 220.7 0.0 3.39 2.21 1.45 22.1 14.7 7.0 30.9 -12.4 1986 38 100.0 187.5 0.0 2.97 1.88 1.33 17.3 10.7 5.7 65.0 -4.9 1985 41 100.0 183.9 0.0 2.83 1.85 1.47 17.8 12.4 7.7 40.7 -3.0 1984 31 100.0 209.3 0.0 2.85 2.09 1.57 16.9 12.6 7.6 96.2 1.7 1983 20 100.0 169.6 0.0 2.97 1.70 1.30 17.2 9.2 4.5 51.6 -3.5 1982 15 100.0 176.7 0.0 3.07 1.77 1.69 15.8 10.0 7.7 64.3 -1.6 1981 10 100.0 152.3 0.0 1.99 1.52 1.04 24.3 11.3 5.3 67.4 -0.3 1980 10 100.0 228.2 0.0 3.71 2.29 2.14 19.1 14.2 12.0 50.6 -4.3 Source: Preqin

Preqin Median Benchmarks: All Regions All Private Equity is calculated using data for 1,748 funds of vintages between 1980 – 2008 with performance as of 30th September 2009 and includes liquidated funds. Preqin holds performance data for more than 4,912 private equity funds. All returns are net of management fees, expenses and carried.

All Private Equity All Regions - Median Called, Distributed and Remaining Value as of 30th September 2009 200 180 160 140 120

% 100 80 60 40 20 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Vintage Year

Distributed to Paid-in Capital (%) Remaining Value to Paid-in Capital (%) Called-up to Committed Capital (%) Source: Preqin

All Private Equity All Regions - Median Net IRR Dispersion as of 30th September 2009 40

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 -10

-20 Net IRR (%) Since Inception

-30

-40 Vintage Year

Top Quartile IRR Boundary Median IRR Bottom Quartile IRR Boundary Source: Preqin

Preqin Median Benchmarks: North American All Private Equity as of 30th September 2009

Median Fund Multiple Quartiles IRR Quartiles IRR No. Vintage Funds Dist(%) Value(%) Called(%) Q1 Median Q3 Q1 Median Q3 Max Min DPI RVPI 2008 88 22.0 0.0 87.9 1.06 0.91 0.77 n/m n/m n/m n/m n/m 2007 126 40.9 0.4 83.9 0.99 0.87 0.75 -2.6 -10.6 -21.7 54.2 -88.1 2006 125 64.5 3.6 79.1 1.02 0.87 0.76 0.2 -9.0 -15.0 31.7 -45.9 2005 103 82.0 12.3 86.8 1.23 1.02 0.85 9.1 0.8 -6.8 61.6 -22.1 2004 80 89.2 27.2 76.0 1.42 1.09 0.96 14.2 3.6 -2.1 63.3 -54.7 2003 56 92.3 43.7 67.6 1.57 1.30 1.05 19.1 8.9 1.2 88.6 -72.0 2002 59 97.0 66.4 53.9 1.56 1.30 0.99 17.7 9.0 -0.3 79.8 -27.7 2001 90 98.3 78.9 49.6 1.70 1.35 0.98 20.4 7.5 -0.5 95.8 -100.0 2000 118 97.0 78.4 42.3 1.60 1.27 0.90 15.2 5.2 -2.2 34.8 -25.4 1999 85 100.0 82.7 19.0 1.52 1.13 0.67 11.1 2.0 -8.5 26.0 -40.6 1998 83 100.0 125.0 3.9 1.60 1.32 0.84 14.0 6.8 -3.8 154.7 -46.1 1997 68 100.0 145.0 1.1 2.60 1.50 1.17 31.2 13.4 2.3 213.0 -35.0 1996 51 100.0 149.0 0.0 2.12 1.50 1.27 23.4 10.3 5.6 147.4 -33.3 1995 53 100.0 175.5 0.0 2.51 1.76 1.34 31.4 18.0 9.2 447.4 -19.9 1994 51 100.0 197.2 0.0 2.36 1.98 1.51 33.0 19.0 10.9 92.2 -23.2 1993 47 100.0 240.0 0.0 3.27 2.40 1.59 38.1 23.3 12.9 87.4 -14.8 1992 35 100.0 176.8 0.0 2.77 1.77 1.19 34.1 18.2 9.8 110.4 -49.9 1991 29 100.0 219.2 0.0 3.52 2.19 1.77 32.2 17.5 11.2 346.4 -0.5 1990 51 100.0 218.6 0.0 2.74 2.19 1.57 24.9 16.9 8.6 74.4 -35.9 1989 61 100.0 233.0 0.0 3.40 2.35 1.65 33.5 16.7 10.8 198.5 -42.1 1988 45 100.0 209.9 0.0 3.03 2.10 1.62 29.2 13.9 9.7 54.5 1.2 1987 41 100.0 221.3 0.0 3.67 2.22 1.62 22.0 14.8 6.8 30.9 -12.4 1986 34 100.0 185.5 0.0 2.71 1.88 1.27 17.3 9.9 5.5 65.0 -4.9 1985 31 100.0 182.1 0.0 2.76 1.85 1.45 16.4 11.8 6.4 40.7 -3.0 1984 24 100.0 200.0 0.0 2.80 2.00 1.57 18.7 13.1 7.6 96.2 5.7 1983 18 100.0 169.6 0.0 2.57 1.70 1.28 20.4 9.2 4.2 51.6 -3.5 1982 10 100.0 175.3 0.0 1.94 1.76 1.69 25.3 9.3 7.7 64.3 -1.6 1981 10 100.0 152.3 0.0 1.99 1.52 1.04 24.3 11.3 5.3 67.4 -0.3 1980 10 100.0 228.2 0.0 3.71 2.29 2.14 19.1 14.2 12.0 50.6 -4.3 Source: Preqin

Preqin Median Benchmarks: North America All Private Equity All Private Equity is calculated using data for 1,330 funds of vintages between 1980 – 2008 with performance as of 30th September 2009 and includes liquidated funds. Preqin holds performance data for more than 3,385 Noth American private equity funds. All returns are net of management fees, expenses and carried.

All Private Equity North America - Median Called, Distributed and Remaining Value as of 30th September 2009 200 180 160 140 120 100 % 80 60 40 20 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Vintage Year

Distributed to Paid-in Capital (%) Remaining Value to Paid-in Capital (%) Called-up to Committed Capital (%) Source: Preqin

All Private Equity North America - Median Net IRR Dispersion as of 30th September 2009 40

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 -10 Net IRR (%) Since Inception

-20

-30 Vintage Year

Top Quartile IRR Boundary Median IRR Bottom Quartile IRR Boundary Source: Preqin

Preqin Median Benchmarks: European All Private Equity as of 30th September 2009

Median Fund Multiple Quartiles IRR Quartiles IRR No. Vintage Funds Dist(%) Value(%) Called(%) Q1 Median Q3 Q1 Median Q3 Max Min DPI RVPI 2008 15 20 0.8 76.9 0.94 0.83 0.57 n/m n/m n/m n/m n/m 2007 27 41.1 0.0 84.6 1.04 0.85 0.70 0.5 -10.4 -19.9 18.6 -54.1 2006 21 72.5 0.0 72.9 0.90 0.76 0.60 -6.1 -13.9 -20.0 3.7 -36.6 2005 29 82.0 14.0 80.0 1.16 0.97 0.86 7.9 -1.6 -7.6 76.9 -30.3 2004 19 82.0 61.6 61.0 1.70 1.35 1.04 29.7 15.5 3.7 77.6 -8.3 2003 11 93.9 90.5 65.9 1.77 1.38 1.23 22.6 18.3 9.2 48.0 -11.7 2002 20 91.5 81.4 58.5 1.80 1.42 1.26 32.0 14.6 7.4 46.0 -14.8 2001 21 94.5 173.3 29.7 2.39 1.91 1.49 29.5 22.6 11.4 70.0 -9.0 2000 23 98.6 142.0 26.4 2.27 1.63 1.36 23.5 15.0 8.9 33.1 -8.4 1999 18 94.4 146.7 12.5 2.08 1.57 1.49 24.4 12.4 9.1 39.7 5.8 1998 18 97.7 150.6 5.3 1.83 1.55 1.20 18.5 11.8 4.2 31.3 -3.2 1997 18 100.0 205.3 0.0 2.54 2.10 1.36 31.3 18.8 6.5 168.5 -19.5 1996 8 97.9 203.4 0.9 3.90 2.21 1.66 27.8 22.0 17.2 63.3 10.7 1995 6 99.7 196.8 0.0 3.18 2.02 1.70 55.4 28.9 17.5 75.1 1.8 1994 10 100.0 250.6 0.0 2.85 2.51 1.69 55.0 41.8 13.1 56.1 10.1 1993 12 100.0 180.2 0.0 3.07 1.80 1.27 16.9 13.2 0.8 16.9 0.8 1992 15 100.0 170.6 0.0 2.30 1.77 1.32 23.0 18.7 9.2 40.0 4.8 1991 10 100.0 225.5 0.0 2.90 2.28 1.84 25.4 25.1 20.8 31.1 12.0 1990 12 100.0 166.1 0.0 2.43 1.67 1.43 25.0 18.2 10.2 70.0 -3.5 Source: Preqin

Preqin Median Benchmarks: Europe All Private Equity All Private Equity is calculated using data for 259 funds of vintages between 1980 – 2008 with performance as of 4,912 and includes liquidated funds. Preqin holds performance data for more than 1007 European private equity funds. All returns are net of management fees, expenses and carried.

All Private Equity Europe - Median Called, Distributed and Remaining Value as of 30th September 2009 250

200

150 % 100

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Vintage Year

Distributed to Paid-in Capital (%) Remaining Value to Paid-in Capital (%) Called-up to Committed Capital (%) Source: Preqin

All Private Equity Europe - Median Net IRR Dispersion as of 30th September 2009

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 -10 Net IRR (%) Since Inception

-20

-30 Vintage Year

Top Quartile IRR Boundary Median IRR Bottom Quartile IRR Boundary Source: Preqin

Preqin Weighted Benchmarks: All Regions, Europe and North America as of 30th September 2009

All Regions North America Europe Vintage Weighted Weighted Weighted Weighted Weighted Weighted Multiple IRR Multiple IRR Multiple IRR 2008 0.87 n/m 0.92 n/m 0.78 n/m 2007 0.78 -14.4 0.81 -13 0.74 -21.1 2006 0.80 -10.8 0.83 -9.3 0.66 -22.0 2005 1.03 1.9 1.06 1.6 0.98 2.3 2004 1.31 13.1 1.25 9.3 1.50 26.0 2003 1.54 19.2 1.54 19.1 1.57 21.1 2002 1.55 19.5 1.44 15.9 1.74 26.3 2001 1.74 20.9 1.58 16.7 2.08 27.6 2000 1.51 12.0 1.47 11.0 1.87 18.9 1999 1.31 5.7 1.22 3.6 1.81 18.6 1998 1.44 7.1 1.30 5.5 2.07 16.5 1997 1.78 16.3 1.76 14.9 1.93 22.9 1996 1.60 12.6 1.54 11.6 2.13 18.5 1995 2.40 24.5 2.51 24.5 2.10 35.1 1994 2.47 35.5 2.80 30.4 2.07 43.1 1993 2.49 24.0 2.54 24.6 2.28 23.2 1992 2.22 29.1 2.23 30.5 2.28 23.2 1991 2.44 23.2 2.62 25.1 2.11 20.8 1990 2.25 17.1 2.57 19.6 1.66Source: 12.3 Preqin

Preqin Weighted Benchmarks: All Regions, North America and Europe All Private Equity are calculated using performance data as of 30th September 2009 for more than 1,500 private equity funds of vintages between 1990 – 2008.

All Private Equity Funds All Regions - Money Weighted IRR as of 30th September 2009

0 Inception 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 -10 Weighted Net IRR (%) Since Weighted

-20

-30 Vintage Year

All Regions North America Europe Source: Preqin

All Private Equity Funds All Regions - Money Weighted Multiple as of 30th September 2009

1 Weighted Multiple (X) Weighted

0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Vintage Year All Regions North America Europe Source: Preqin

Preqin Pooled Benchmarks: All Regions, Europe and North America All Private Equity

All Regions Europe North America Vintage Pooled IRR Pooled IRR Pooled IRR

2008 n/m n/m n/m 2007 -10.7 -16.2 -8.6 2006 -8.7 -22.7 -8.4 2005 1.2 -5.4 1.8 2004 12 22.2 9.6 2003 20 21.3 19.9 2002 19.9 28.5 15.6 2001 21.2 29.4 16.5 2000 11.8 24 9.8 1999 5.6 16.2 0.1 1998 9.3 15 7.6 1997 12.2 18.1 11.2 1996 10.6 16.8 10.6 Source: Preqin

All Private Equity All Regions - Pooled IRR 40

0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 -10

Pooled IRR (%) Since Inception -20

-30 Vintage Year

All Regions Europe North America Source: Preqin

Preqin Pooled Benchmarks: All Regions, North America and Europe All Private Equity are calculated using cash ﬂ ow data for more than 1,700 private equity funds.

Horizon IRRs by Fund Type as of 30th September 2009 30

0 Horizon IRR (%) 1 year to Sep2009 3 years to Sep 2009 5 years to Sep 2009 -5

-10

-15

-20 All Private Equity Buyout Venture Fund of Funds Mezzanine Source: Preqin

All Private Fund of Buyout Venture Mezzanine Equity Funds 1 year to Sep 2009 -9.2 -11.2 -9.9 -12.0 -17.1 3 years to Sep 2009 3.6 4.3 1.8 1.0 6.5 5 years to Sep 2009 20.0 25.4 4.4 9.5 16.4 Source: Preqin

One-Year Rolling Horizon IRRs by Fund Type 80

0 1 year to 1 year to 1 year to 1 year to 1 year to 1 year to 1 year to 1 year to 1 year to 1 year to -20 Dec 2000 Dec 2001 Dec 2002 Dec 2003 Dec 2004 Dec 2005 Dec 2006 Dec 2007 Dec 2008 Sep 2009 One-Year Horizon IRR (%) One-Year

-40

-60 All Buyout Venture Fund of Funds Mezzanine Real Estate Source: Preqin

Fund of Horizon All Buyout Venture Mezzanine Real Estate Funds 1 year to Dec 2000 10.1 3.6 38.1 -1.3 14.0 11.4 1 year to Dec 2001 -2.7 -3.2 -34.3 -5.2 13.8 7.8 1 year to Dec 2002 -9.1 -4.0 -31.6 -23.2 -2.1 6.7 1 year to Dec 2003 17.5 24.3 -6.0 -15.1 6.8 14.9 1 year to Dec 2004 25.0 30.3 7.1 7.5 20.4 19.8 1 year to Dec 2005 27.0 29.7 4.5 16.9 13.6 60.8 1 year to Dec 2006 29.1 32.3 15.8 17.9 31.7 42.6 1 year to Dec 2007 26.0 30.7 21.3 23.2 18.8 13.5 1 year to Dec 2008 -27.6 -31.0 -16.2 -12.0 4.0 -39.9 1 year to Sep 2009 -9.2 -11.2 -9.9 -12.0 -17.1 n/m Source: Preqin

3-Years Rolling Horizon IRRs by Fund Type 100

3-Years Horizon IRR (%) 3-Years 0 3 years to 3 years to 3 years to 3 years to 3 years to 3 years to 3 years to 3 years to 3 years to 3 years to -20 Dec 2000 Dec 2001 Dec 2002 Dec 2003 Dec 2004 Dec 2005 Dec 2006 Dec 2007 Dec 2008 Sep 2009

-40 All Buyout Venture Fund of Funds Mezzanine Real Estate Source: Preqin

Fund of Horizon All Buyout Venture Mezzanine Real Estate Funds 3 years to Dec 2000 14.9 11.7 62.4 21.9 16.8 3.2 3 years to Dec 2001 10.6 4.0 87.3 8.9 12.2 7.3 3 years to Dec 2002 -4.9 -4.9 -17.6 -13.1 1.2 7.4 3 years to Dec 2003 4.3 6.0 -19.0 -10.6 5.4 8.6 3 years to Dec 2004 10.2 15.8 -8.5 -4.5 7.2 12.5 3 years to Dec 2005 23.0 27.8 3.0 8.3 12.6 23.4 3 years to Dec 2006 26.2 30.4 8.6 20.3 19.0 38.0 3 years to Dec 2007 30.2 34.4 14.3 23.5 21.1 36.9 3 years to Dec 2008 11.3 14.1 5.4 7.0 26.5 0.0 3 years to Sep 2009 3.6 4.3 1.8 1.0 6.5 n/n Source: Preqin

Performance Analyst is the most comprehensive, detailed source of private equity performance data available today. Preqin’s team of analysts collect and monitor data from a number of different sources, including from GPs themselves, in order to provide the most comprehensive private equity performance data available. All of our Performance Data conforms to the same standardized metrics, with all data representing net to LP returns. We currently hold transparent net-to-LP performance data for over 4,900 private equity funds of all types and geographic focus. In terms of aggregate value, this represents around 69% of all capital ever raised. This high level of coverage enables us to produce the most meaningful benchmarking and comparative tools available in the industry.

Key features of this powerful database include:

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List of Constituent All Private Equity Funds

.406 Venture Fund I Advent Atlantic & Pacifi c II American Private Equity 1998 - Serie II AXA Secondary Fund II Blackstone Capital Partners 2000 Riverside Capital Advent Atlantic & Pacifi c III Partners Asian Recovery Fund AXA Secondary Fund III IV Appreciation Fund Advent Central & Eastern American Private Equity Astorg IV AXA Secondary Fund IV Blackstone Communications 2003 Riverside Capital Europe IV Partners II Athenian Venture Partners II B III A Capital Partners Partners I Appreciation Fund Advent Chestnut I American Private Equity Athenian Venture Partners III B III Capital Partners Blackstone Mezzanine 2008 Kensington Co- Advent Chestnut II Partners III Atlantic Medical Capital B IV Capital Partners Partners investment Fund Advent Chestnut II AMEV Venture Associates III Atlas Ventures VI Bachow Investment Partners Blackstone Real Estate 2008 Riverside Capital Advent Chestnut III AMP Business Development ATP Private Equity Partners I III Partners International II Appreciation Fund V Advent Chestnut III Fund II ATP Private Equity Partners Bain Capital Fund X Blue Chip Capital Fund 2009 Kensington Co- Advent Company AMP Private Equity Fund III II Baird Capital Partners I Blue Chip Opportunity Fund investment Fund Advent Global Private Ampersand 1992 ATP Private Equity Partners Baird Capital Partners II BlueRun Ventures III 32 Degrees Capital Fund I Equity IV Ampersand 1994 III Baird Capital Partners IV Bluestream Ventures 32 Degrees Capital Fund II Advent Global Private Equity Ampersand 1999 Audax Mezzanine Fund Baird Venture Partners I Boston Capital Ventures 32 Degrees Capital Fund III IV-A Ampersand 2001 Audax Mezzanine Fund II Banc Fund III International 32 Degrees Capital Fund IV Advent Global Private Ampersand 2006 Audax Private Equity Banc Fund IV Boston Millennia Partners II 3i 94 LMBO Plan Equity V Ampersand Specialty Audax Private Equity Banc Fund V Boston Ventures III (A) 3i Europe Partners Advent Global Private Materials Ventures Fund III Banc Fund VII Boston Ventures IV 3i India Infrastructure Fund Equity VI AMV Partners I Audax Private Equity II Banc Fund VIII Boston Ventures V 3i UK Investment Partners II Advent II Antares Special Aurora Equity Partners Bancroft Eastern Europe Boston Ventures VI 5AM Ventures Fund Advent III Opportunities Fund Aurora Equity Partners II Fund Boulder Ventures III 5AM Ventures Fund II Advent Industrial Anthem Capital Austin Ventures Bank of America California Boulder Ventures IV 747 Stuyvesant Advent Industrial II Anti-Viral Limited Partners Austin Ventures III Community Fund II Boulder Ventures V Aberdare II Annex Fund Advent IV AP Cayman Partners II Austin Ventures IV Bank Portfolio Bowmark Capital Partners III Aberdare Ventures Advent Japan Private Equity APA / Fostin - Fund I Austin Ventures IX Baring Asia Private Equity Bowmark Capital Partners IV Aberdare Ventures II Fund APA German European Austin Ventures V Fund IV BPEA Life Sciences Fund I Aberdare Ventures III Advent Latin American Ventures Austin Ventures VI Baring Communications Brazos Equity Fund III Aberdare Ventures IV Fund III Apache I Austin Ventures VII Equity Limited Brazos Fund Abingworth Bioventures I Advent Latin American Apax Capital Risque III Austin Ventures VIII Baring India Private Equity Brentwood Associates Abingworth Bioventures IV Fund IV Apax Europe VI Austin Ventures X Fund II Buyout Abingworth Ventures Advent New York Apax Europe VII Australian Bioscience Trust Baring Vostok Private Equity Brentwood Associates ABRY I Advent Realty II Apax Israel II Australian Mezzanine Fund IV Buyout II ABRY V Advent V Apax Partners - Germany II Investment No. 1 trust Battery Ventures Brentwood Associates II ABRY VI Advent VI Apax UK V Australian Mezzanine Battery Ventures III Brentwood Associates IV ABS Capital I Advent VII Apax Ventures IV Investment No. 2 trust Battery Ventures IV Brentwood Associates V ABS Capital II AEW Partners I Apollo Investment Fund III Australian Mezzanine Battery Ventures V Brentwood Associates VI ABS Capital IV Affi nity Asia Pacifi c Fund III Apollo Investment Fund IV Investment No. 3 trust Battery Ventures VI Bridgepoint Euro Private ABS Capital V AG Capital Recovery Apollo Investment Fund V Avalon Ventures I Battery Ventures VII Equity ABS Ventures II Partners Applied Genomic Avalon Ventures II Battery Ventures VIII Bridgepoint Euro Private ABS Ventures III AG Capital Recovery Technology Capital Fund Avalon Ventures III Battery Ventures VIIIb Equity III Acacia Venture Partners II Partners II Arboretum Ventures II Avalon Ventures IV Bay Area Equity Fund I Bridgepoint Europe IV Accel - KKR Company AIG French Property Fund ARCap Investors II Avalon Ventures V Bay City Capital Fund I Bridgescale Partners I Accel Europe Aisling Capital II ARCH Venture Fund V Avalon Ventures VIII Bay City Capital Fund II Brinson Non-US Partners - Accel III Aisling Capital III ArcLight Energy Partners Avenue Asia Special Bay City Capital Fund III 1999 Primary Accel IV Alex. Brown Realty Investors Fund II Situations Fund IV Bay City Capital Fund IV Brinson Non-US Partners - Accel-KKR Capital Partners Alex. Brown Realty Investors ArcLight Energy Partners Avenue Asia Special Bay Partners IV 2000 Primary III II Fund III Situations III Bay Partners X Brinson Non-US Partners - Acon-Bastion Partners Allegra III (LSH III) ArcLight Energy Partners Avenue Europe Special Bay Partners XI 2001 Primary Fund II Alliance ScanEast Fund Fund IV Situations Fund BC European Cap VI Brinson Non-US Partners - Actera Partners Allied Ventures Ares Corporate Avenue Special Situations II BC European Cap VII 2002 Primary Adams Street Direct Fund V Alloy Ventures 2000 Opportunities Fund Avenue Special Situations IV BC European Cap VIII Brinson Non-US Partners - Adams Street Global Alloy Ventures 2002 Arral Pacifi c Equity Trust II Avenue Special Situations V BCI Growth III 2003 Primary Opportunities Secondary Alpha Private Equity Fund Arrow Development Fund Avrio Ventures I Beacon Capital Strategic Brinson Non-US Partners - Fund Alpha Venture Partners III ArrowPath Fund II AXA Capital Asia Partners II 2004 Primary Adams Street Non-US Alpine Technology Ventures Arsenal Capital Partners AXA Co-investment Fund II Beacon Capital Strategic Brinson Partnership Fund - Partnership 2002 AlpInvest Partners Later Arsenal Capital Partners II AXA Co-investment Fund III Partners III 1996 Primary Adams Street Non-US Stage Co-Invest Ascent Venture Partners II AXA Early Secondary Fund I Behrman Capital B Brinson Partnership Fund - Partnership 2004 Alta Biopharma Partners I Ascent Venture Partners III AXA Early Secondary Behrman Capital Partners 1997 Primary Adams Street Non-US Alta BioPharma Partners III Ascent Venture Partners IV Fund II Berkshire Fund I Brinson Partnership Fund - Partnership 2005 Alta Communications IV Ashmore Asian Opportunity AXA Early Secondary Berkshire Fund VI 1998 Primary Adams Street US Alta Company Fund Fund III Berkshire Fund VII Brinson Partnership Fund - Partnership 2003 Alta II Ashmore Asian Value Fund AXA Expansion I Bertram Growth Equity 1998 Secondary Adams Street US Alta Partners VIII Asia Alternatives Capital AXA Expansion II Partners I Brinson Partnership Fund - Partnership 2004 Alta Subordinated Debt Partners AXA Infrastructure Partners Birch Hill Equity Partners III 1999 Primary Adena Ventures Alta Subordinated Debt II Asia Alternatives Capital AXA LBO Fund Birchmere Ventures I Brinson Partnership Fund - Advanced Tech Ventures VII Alta Subordinated Debt III Partners II AXA LBO Fund II Birchmere Ventures II 2000 Primary Advent Asia Pacifi c Special Altos Ventures IV Asia Direct AXA LBO Fund III Birchmere Ventures III Brinson Partnership Fund - Situations Fund Altus Capital Partners SBIC Asia Pacifi c Equity Trust AXA LBO Fund IV Black Diamond Opportunity 2002 Primary Advent Atlantic American Industrial Partners Asia Pacifi c Trust AXA Mezzanine I Fund II Brinson Partnership Fund - Advent Atlantic & Pacifi c I Fund II Asian Opportunity Fund AXA Secondary Fund BlackRock Asset Investors 2002 Secondary

Brinson Partnership Fund - Carlyle Infrastructure Chesapeake Property Partners DAG Ventures III Fund 2003 Secondary Partners Finance Fund II Connecticut Future Fund Darby Converging Europe Essex Woodlands Health Brinson Partnership Fund - Carlyle Japan Partners II Cheyenne II Conseco Capital Partners II Mezzanine Fund Ventures 2004 Primary Carlyle Mexico Partners Cheyenne III Consilium Private Equity Davis Venture Partners Essex Woodlands Health Brinson Venture Capital Carlyle Strategic Partners II Cheyenne Partners Fund Daystar Special Situations Ventures V Fund III Carlyle/Riverstone Global China Privatization Fund I Constellation Ventures III Fund Essex Woodlands Health Brinson Venture Capital Energy and Power Fund III ChinaVest IV Consumer Venture Partners DFJ Element Ventures VI Fund IV Carlyle/Riverstone Chrysalix Energy III II DFJ Frontier Fund Essex Woodlands Health Brinson Venture Partnership Renewable Energy Churchill Capital Partners I Contrarian Capital Fund II Diamond Castle IV Ventures VII Acquisition II Infrastructure Fund I Churchill Capital Partners II Convergence Ventures II Diana Capital I Essex Woodlands Health Brinson Venture Partnership Carmel Software Fund Cinven I Copley Partners 1 DKB Emerging Europe Ventures VIII Fund III Carmel Venture Fund II Cinven II Copley Partners 2 DLJ Real Estate Capital Euclid Partners III British Columbia Technology Carmel Ventures III Cinven IV Coral Partners Fund I Partners European Mezzanine Fund I Investment Fund Carpenter Community CITIC Capital China Corinthian Capital I DLJ Real Estate Capital European Mezzanine Brooke Private Equity Bancfund Partners Cornerstone Equity Partners II Fund II Advisors Fund I CarVal Global Value Fund Clairvest Equity Partners I Investors IV DLJ Real Estate Capital Evercore Capital Partners II Brooke Private Equity Castile Ventures III Clairvest Equity Partners III Cornerstone Rotational Partners IV Evergreen II Advisors Fund II Castle Harlan Australian Claremont Creek Ventures II Venture DLJ Real Estate Mezzanine Evergreen III Brynwood Partners V Mezzanine Partners II Clarus Ventures Corpfi n Capital I Capital Evergreen Pacifi c Partners II Buchanan Fund I Worldwide Clarus Ventures II Cortec Group Fund I DLJ South American Evergreen V Buchanan Urban Investors Castle Harlan II Clayton Dubilier & Rice I Cortec Group Fund II Partners Excel Capital Partners I, II Buerk Dale Victor II Catterton Partners V Clayton Dubilier & Rice II Covenant Apartment Fund I Doll Technology Investment Fairview Capital Butler France Private Catterton Partners VI Clayton Dubilier & Rice III Covenant Apartment Fund II Fund III Fairview Capital III Equity II Catterton-Simon Partners III Clearstone Venture Partners Covenant Apartment Domain II Fairview Constitution II Caduceus Private CB Institutional Fund VIII I-B Fund III Domain Partners Fairview Ventures I Investments III CB Richard Ellis Strategic Clearstone Venture Partners CPPIB-Paul Capital Doughty Hanson & Co II Fairview Ventures II CalCEF Angel Fund Partners I II Holdings Doughty Hanson & Co V Fairview Ventures III Calera Capital IV CB Richard Ellis Strategic Clearstone Venture Partners CPPIB-Paul Capital Dover Street VII Fairview Ventures II-NY California Emerging Partners II III Holdings II Draper Fisher Jurvetson VII Fenno Fund Ventures CB Richard Ellis Strategic Clearwater Capital Partners Craton Equity Partners I DT Capital China Growth Fenway Partners Capital California Emerging Partners UK Fund I Fund II Credit Card Holding Co- Fund Fund III Ventures II CCMP Asia Opportunity Clearwater Capital Partners Investment DT Ventures China II FFC Partners II California Emerging Fund II I Crescendo I ECM Income & Growth Fidelity Belmont Capital Ventures III CCMP Asia Opportunity Clessidra Capital Partners Crescendo IV Fund Partners II California Emerging Fund III Close Brothers PE Fund VII Crescendo World Fund EdgeStone Capital Equity Fidelity Real Estate Growth Ventures IV Celtic House Venture CMEA Ventures I Cressey & Co. Fund IV Fund II Fund II Caltius Equity Partners II Partners II CMEA Ventures III Crestview Capital Partners II EdgeStone Capital Equity Fidelity Real Estate Growth Caltius Partners Fund III Celtic House Venture CMEA Ventures IV CRM 2000 Enterprise Fund III Fund III Canadian Gas Gathering Partners III CMEA Ventures V Fund IV EdgeStone Capital Venture Finnmezzanine Fund I Systems II Centennial Bus. Dev. Fund CMEA Ventures VI Crosspoint Venture Partners Fund II Finnmezzanine Fund II Candover 1989 Centennial Fund CMEA Ventures VII 1988 Edison I Finnmezzanine Fund III Candover 1991 Centennial Fund II Code Hennessy & Simmons Crossroads /Providence Edison II Finnventure Fund I Candover 1994 Centennial Fund III II Crossroads SF Limited Edison III Finnventure Fund II Canterbury Mezzanine Centennial Fund IV Code Hennessy & Simmons Partnership Edison IV Finnventure Fund III Capital Centerbridge Capital III Crow Holdings Realty El Dorado Ventures III Finnventure Fund IV Canterbury Mezzanine Partners I Code Hennessy & Simmons Partners II Electra Private Equity Finnventure Fund V Capital II CEO Venture Fund IV Crown Associates III Partners First Britannia Mezzanine CAP Healthcare Fund Cerberus Institutional Code Hennessy & Simmons CSFB Mid Market Element Partners II NV Capital Partners Holdings II Partners (Series Four) V Opportunity Fund Elevation Partners First Reserve Fund IX Capital Point Partners Ceyuan Ventures II Coller International Partners CSFB Mid Market Emergence Capital Partners First Reserve Fund VI Capital Resource Lenders II CH Partners II II Opportunity Fund II II First Reserve Fund VII Capital Resource Lenders III CH Transition Fund Coller International Partners CSFB Mid Market Endeavour Capital Fund III First Reserve Fund VIII Capital Resource Partners CHAMP Buyout II V Opportunity Fund III Endeavour Capital Fund IV First Reserve Fund X IV CHAMP I Columbia Capital Equity CT - Greene Ventures Endeavour Capital Fund V First Reserve Fund XII Capital Z Asia Partners CHAMP Ventures Partners I-A CT Financial Development Endowment Realty Investors Fisher Lynch Co-investment CapMan Equity VII A Investments Trust No. 5 Columbia Capital Equity Fund Energy Income Fund Partnership CapMan Equity VII B Charles River VI Partners I-B CT Mezzanine Partners I Energy Investors Fund I Five Arrows Realty CapMan Equity VII C Chart Capital Partners II Columbia Capital Equity CT Mezzanine Partners II Energy Recovery Fund Securities Fund IV CapMan Equity VII Sweden Charterhouse Capital Partners II CVC Capital Partners Asia EnerTech Capital Partners Flagship Ventures Fund Cardinal Health Partners III Partners IX Columbia Capital Equity Pacifi c II Enertech Capital Partners III 2007 Carlyle Asia Growth Charterhouse Capital Partners IV CVC Capital Partners Asia EnerVest Acquisition II Fletcher Spaght Ventures Partners III Partners V Columbia Capital Equity Pacifi c III EnerVest East Focus Ventures I Carlyle Asia Growth Charterhouse Capital Partners V CVC European Equity EnerVest Energy Focus Ventures II Partners IV Partners VI Columbine Venture Fund II Partners II EnerVest Monroe Focus Ventures III Carlyle Asia Partners III Charterhouse Capital Column Group Venture CVC European Equity EnerVest Olanta Foothill Partners II Carlyle Asia Real Estate Partners VII Partners I Partners IV EnerVest San Juan Foothill Partners III Fund Charterhouse Capital Commonwealth Capital CVC European Equity EnerVest Texoma Forbion Venture Fund II Carlyle Asia Venture Partners VIII Ventures I Partners IV Tandem Fund EnerVest WV Forstmann Little Debt & Partners I Charterhouse Equity Commonwealth Capital CVC European Equity Enterprise Partners III Equity Buyout III Carlyle Europe Partners II Partners Ventures II Partners V Eos Capital Partners III Forstmann Little Debt & Carlyle Europe Partners III Charterhouse Mezzanine Commonwealth Capital CVM Equity Fund III Eos Capital Partners IV Equity Buyout IV Carlyle Europe Technology Partners Ventures III Cypress Merchant Banking Escalate Capital Forstmann Little Debt & Fund II Cherry Tree Ventures IV Commonwealth Capital Partners I ESP European MidMarket Equity Buyout VI Carlyle Global Financial Chesapeake Property Ventures IV Cypress Merchant Banking Fund Forstmann Little Equity V Services Partners Finance Fund ComVest Investment Partners II ESP Golden Bear Europe Fortress Investment Fund IV

Fortress Investment Fund V Fund II HarbourVest International II Hudson Venture Partners I Fund II-B Fund Fortress Residential Golden State Investment Partnership Hudson Venture Partners II INVESCO Real Estate Keystone V Investment Deutschland Fund HarbourVest International Huff Alternative Income Fund I Khosla Ventures III Forward Ventures III Golder Thoma Cressey III Direct Fund INVESCO Real Estate Khosla Ventures Seed Fund Forward Ventures IV Rauner HarbourVest International Huntington Capital II Fund II Kidd Kamm Equity Partners Foundry Group Venture Golder Thoma Cressey Private Equity Partners VI I2 Capital Partners Investcorp Technology Kirtland Capital Partners Capital Fund I Rauner II Asia Pacifi c IAI Ventures I Partners III KKR Asia Fund FountainVest China Growth Golder Thoma Cressey HarbourVest International VI ICV Partners Investec KKR European Fund Partners Rauner III Partnership I-Hatch Ventures Ironbridge Capital 2003/4 KKR European Fund II Fox Paine Capital Fund Golder Thoma Cressey HarbourVest Partners Illinois Private Equity Fund Ironbridge Fund II KKR European Fund III Fox Paine Capital Fund II Rauner IV HarbourVest Partners II Of Funds Ironwood Mezzanine Fund I KKR Fund 1976 Francisco Partners Golder Thoma Cressey HarbourVest Partners III Imperial Capital Acquisition Irving Place Capital Partners KKR Fund 1980 Francisco Partners II Rauner IX HarbourVest Partners IV Fund II III KKR Fund 2006 Franklin Park Venture Fund Golder Thoma Cressey Direct Imperial Capital Leveraged Israel Seed Partners IV KKR Millennium Fund Series 2008 Rauner V HarbourVest Partners IV Acquisition Fund Italian Private Equity Fund I Kleiner Perkins Caufi eld & Frazier Healthcare II Golder Thoma Cressey Partnership IMR Fund JAFCO G-5 Byers II Frazier Healthcare III Rauner VI HarbourVest Partners V Index Ventures II JAFCO G-7(A)(B) Kleiner Perkins Caufi eld & Frazier Healthcare IV Golder Thoma Cressey Direct Index Ventures III JAFCO No 1 Byers II Ann Fremont Partners III Rauner VII HarbourVest Partners V India Value Fund III JAFCO No 2 Kleiner Perkins Caufi eld & Fremont Strategic Property Golder Thoma Cressey Partnership Indiana Future Fund I JAFCO No 3 Byers III Partners II Rauner VIII HarbourVest Partners VI Indiana Investment Fund I JAFCO No 4 Kleiner Perkins Caufi eld & Friedman Fleischer & Lowe Granite Global Ventures Partnership Indigo Capital IV JAFCO No 5 Byers IV Capital Partners III Granite Global Ventures II Harren Investors II Industrial Growth Partners JAFCO No 6 Kleiner Perkins Caufi eld & Frontenac Ventures IV Granite Global Ventures III Harvest Partners III Industrial Opportunity JAFCO R1(A)(B) Byers V Frontenac Ventures V Granite Ventures II Harvest Partners V Partners I JAFCO R2 Kleiner Perkins Caufi eld & Frontenac Ventures VII Granville Northern Private Health Evolution Partners Industry Ventures IV Janus Participations Byers VI Frontenac Ventures VIII Equity Fund Healthcap IV Information Technology JAVP Kline Hawkes Pacifi c FS Equity Partners II Great Hill Equity Partners Healthcare Focus Fund Ventures JAVP 2 Knightsbridge Venture FS Equity Partners III Great Hill Equity Partners II Heitman II Information Technology JC Flowers II Capital VI FS Equity Partners V Great Hill Equity Partners III Heitman III Ventures II JER Real Estate Partners I Knightsbridge Venture Fudo Capital Green Credit Investors Heitman V ING Equity Partners JER Real Estate Partners II Completion 2005 Furman Selz Investors Green Equity Investors III Hellman & Friedman I ING Furman Selz Investors Jerusalem Venture Partners Kohlberg Investors I Garnett & Helfrich Green Equity Investors IV Hellman & Friedman II III IV Kohlberg Investors II Gateway Venture Partners Green Equity Investors V Hellman & Friedman III Inman & Bowman JK&B Capital I and II Kohlberg Investors III III Green Mountain Partners Hellman & Friedman IV InnoCal JK&B Capital IV Kohlberg Investors IV GBS BioVentures III Green Mountain Partners II Hellman & Friedman V Innova/5 JLL Partners Fund III Kohlberg Investors V GBS BioVentures IV Greenbriar Equity Fund II Hellman & Friedman VI Innova/98 JLL Partners Fund V Kohlberg Investors VI GBS BioVenutures II Greenfi eld Acquisition Helmsman Capital Fund Inroads Capital Partners JMB Group Trust III Koll Bren Fund V GBS Genesis Fund Partners III Henderson PFI Secondary I InSight Capital Partners JMI Equity Fund IV Koll Bren Opportunity Fund I GCP California Fund Greenstone Partners Private Henderson PFI Secondary II (Cayman) II JMI Equity Fund VI Koll Bren Opportunity Gemini Israel III Capital Fund I Heritage Fund III InSight Capital Partners Joint Energy Development Fund II General Catalyst Group I Gresham Property HEV III (Cayman) III Investments KRG Capital Fund IV General Catalyst Group II Mezzanine Fund No. 1 Hicks, Muse, Tate & Furst InSight Capital Partners Jordan Resolute Fund KSL Capital Partners II Genesis Seed Fund Grosvenor International Equity Fund (Cayman) IV Jordan Resolute Fund II KSL Capital Partners GenNx360 Capital Partners Investors Fund Hicks, Muse, Tate & Furst InSight Capital Partners V Joseph Littlejohn & Levy Supplemental II Genstar Capital Partners III Grotech Partners III Latin America Fund I InSight Capital Partners VI Fund I L&B Medical Properties Geocapital III Grotech Partners IV Hicks, Muse, Tate & Furst Insight Equity Partners I Joseph Littlejohn & Levy Partners GF Capital Private Equity GRP III Latin America Fund II Institutional Venture Fund II L&B Property Fund II Fund Gryphon Partners I High Road Capital Partners Partners III JP Morgan Partners Global L&B Property Fund III GI Partners II GS Mezzanine Partners I Highland Capital Partners Institutional Venture Investors L&B Property Fund IV Gilbert Global Equity GS Vintage Fund IV Highland Capital Partners II Partners V Juno International Lake Capital Partners Partners GS Vintage Fund V Highland Capital Partners V Institutional Venture Participations Larimer Venture Gilde Buyout Fund I GSR Ventures III Highland Capital Partners VI Partners X Junqueira Management II Gilde Buyout Fund II Guggenheim Structured Highland Capital Partners Inter-Asia Capital I Kairos Partners Private LaSalle Asia Opportunity Gilde Buyout Fund III Real Estate Fund VII Inter-Asia Capital II Equity Fund Fund II Giza Venture Fund V H.I.G. Bayside Debt & LBO Highland Consumer Fund I Inter-Atlantic Fund Kayne Anderson Energy LaSalle Asia Opportunity GKH Investments Fund II Highstar Capital III Intervale Capital Fund I Fund I Fund III Gleacher Mezzanine Fund II Halder Investments III Highway 12 Venture Fund II InterWest Partners I Kayne Anderson Energy LaSalle Asia Recovery Glenborough Halyard Capital Fund II Hill Partnership III InterWest Partners II Fund III International I Glenmede Private Equity Hambro International HIPEP V-Asia Pacifi c and InterWest Partners III Kayne Anderson Energy LaSalle Income & Growth II Fund I Venture Fund II Rest of World Partnership InterWest Partners IV Fund IV LaSalle Income Parking Glenmede Private Equity Hampshire Equity Partners II Hirtle Callaghan Private InterWest Partners VI KBA Partners Fund Fund II Hancock ForesTree II Equity Fund VI InterWest Partners VII KBA Partners II LaSalle Japan Logistics Glenmede Private Equity Hancock ForesTree III Hispania Private Equity II InterWest Partners VIII Kelso ASI Partners Fund II Fund III Harbour Group Investment II HM Capital Sector INVESCO East Europe Kelso Investment Associates LaSalle Street Fund Glenmede Private HarbourVest 2004 Direct Performance Fund Frontiers Fund V Latin America Enterprise Investment Fund VII Fund HMTF Equity Fund V INVESCO Partnership Kensington Fund of Funds II Fund Global Catalyst Partners HarbourVest 2007 Direct Hony Capital Fund III Fund II Kensington International Latin Power I Global Catalyst Partners II Fund Hopewell Ventures INVESCO Partnership Private Equity Fund I Lawrence Tyrrell Ortale Global Catalyst Partners III HarbourVest Falcon Houston Venture Partners Fund IV Kensington Private Equity Lawrence Tyrrell Ortale II Global Life Science HarbourVest Falcon II HSBC Capital Canada INVESCO Private Capital Fund IV Leapfrog Ventures II Venture II HarbourVest International HSBC Capital PEF 2005 Fund I Kettle Partners II Leeds Equity Partners IV GM Capital Partners I HarbourVest International II HSBC Private Equity Fund 2 INVESCO Private Capital Keystone Industrial Fund Leeds Equity Partners V GMAC Institutional HarbourVest International HSBC UK Enterprise Fund Fund II-A Keystone IV Lehman Brothers Commercial Mortgage II Direct for the North East 2 INVESCO Private Capital Keystone Minority Capital Communications Partners

Lehman Brothers Merchant Investment Trust II Miller Global Fund II Nogales Investors Fund II Onex Partners III Partenaires I Banking Macquarie Alternative Miller Global Fund III Nokia Ventures Fund (Blue OpenView Venture Partners Parthenon Investors Lehman Brothers Merchant Investment Trust III Miller Global Fund IV Run Venture) Opus Capital I Parthenon Investors II Banking IV Macquarie Alternative Mobius Technology Nordic Capital Fund III Oregon Investment Fund Parthenon Investors III Lehman Brothers Venture Investment Trust IV Ventures VI Nordic Capital Fund IV Oregon Investment Fund 1b Partners Group Maple Leaf Partners 2003 Macquarie Alternative Mohr Davidow Ventures III Nordic Capital Fund VI Orion European Real Estate Partners Group Maple Leaf Levine Leichtman Capital Investment Trust V Montauk Triguard III Nordic Capital Fund VII Fund Secondary Fund II Partners Macquarie Investment Trust Monument Capital Partners Nordic Private Equity OSCCO III Partners Group Secondary Levine Leichtman Capital Madison Dearborn Capital 1 Partners I Overlord 2001 Investment 2004 Partners II Partners II Morgan Grenfell Equity Noro-Moseley Partners I OVP Venture Partners VII Pathway Private Equity III Levmark Capital Madison Dearborn Capital Partners II Noro-Moseley Partners II Oxford Bioscience Partners Patria Brazilian Private Lexington Capital Partners I Partners III Morgan Holland II North American Fund II III Equity Fund III Lexington Capital Partners II Madison Dearborn Capital Morgan Stanley Venture North Bridge Venture Oxford Bioscience Partners Paul Capital Healthcare III Lexington Capital Partners Partners IV Partners II Partners IV IV Paul Capital Partners IX III Madison Dearborn Capital Morgan Stanley Venture North Bridge Venture Oxford Venture Fund III Paul Capital Partners VII Lexington Capital Partners Partners V Partners III Partners V P/A Fund Paul Capital Partners VIII IV Maghreb Private Equity Morgan Stanley Venture Northleaf Capital/CPPIB Pacholder Value Opportunity Paul Capital Top Tier Lexington Capital Partners V Fund II Partners IV Canadian Private Equity Fund Investments III Lexington Capital Partners Magnum Capital Morgan Stanley Ventures Holdings Pacifi c Community Ventures PCG Cleantech Fund VI Mainsail Partners II Capital Fund Northstar Capital Investment II PCG Corporate Partners Lexington Middle Market Mangrove II Morgenthaler Venture Northwest Emerging Pacifi c Community Ventures PCGI Global Opportunities Investors Mangrove NTVC I Partners II Ventures III Fund I Lexington Middle Market Markaz-BBK US Retail Morgenthaler Venture Northwest Emerging Pacifi c Horizon Annex PCGI Global Opportunities Investors II Realty Investment Unit II Partners III Ventures II Partners Fund II LF Strategic Realty Markstone Capital Partners Morgenthaler Venture Northwest Emerging Pacifi c Horizon Annex PECO Opportunity Fund Investors Marlborough Capital Partners VII Ventures III Partners II PECO Opportunity Fund 2 LGV 1 Private Equity Fund Investment I MPM BioVentures I Northwest Ohio Venture Pacifi c Road Resources Penman Private Equity & LGV 2 Private Equity Fund Marquette Venture I MPM BioVentures II Fund Fund Mezzannine Fund LGV 4 Private Equity Fund Marquette Venture II MPM BioVentures III Norwest Equity Capital PAI Europe IV Penske Capital Partners LGV 5 Private Equity Fund Materia Ventures Mulberry Asia Fund Nth Power IV PAI Europe V Performance Venture LGV 6 Private Equity Fund MatlinPatterson Global Murray Johnstone Private Oak Hill Capital Partners II PAI LBO Fund Capital Liberty Partners Pool I Opportunities III Acquisition I Oak Hill Capital Partners III Palamon European Equity II Performance Venture Liberty Partners Pool IV Matrix Partners II MUST 3 Oak Investment Partners I Palladium Equity Partners III Capital II Lighthouse Capital Partners Matrix Partners IV Nautic Partners V Oak Investment Partners III Palomar Ventures II Periscope Fund I III Mayfi eld India Nautic Partners VI Oak Investment Partners IV Pantheon Asia Fund I Permira Europe III Lighthouse Capital Partners Mayfi eld IV Navis Asia Fund V Oak Investment Partners IX Pantheon Asia Fund II Permira France Venture I IV Mayfi eld V Nazem & Company II Oak Investment Partners X Pantheon Asia Fund III Permira German Buy-Outs Lighthouse Capital Partners Mayfi eld VI Nazem & Company III Oak Investment Partners XI Pantheon Asia Fund IV Permira German Buyouts V Mayfi eld VII NEPA Venture I Oak Investment Partners XII Pantheon Europe 1991 1992 Lighthouse Capital Partners Menlo Evergreen V NEPA Venture II OCM Opportunities Fund Pantheon Europe Fund I Permira Italy I VI Menlo Venture Partners New Enterprise Associates I OCM Opportunities Fund II Pantheon Europe Fund II Permira Italy II Lightspeed Venture Partners Menlo Ventures III New Enterprise Associates II OCM Opportunities Fund V Pantheon Europe Fund III Permira IV V Menlo Ventures IV New Enterprise Associates OCM Opportunities Fund VI Pantheon Europe Fund IV Permira U.K. Venture I Lightspeed Venture Partners Menlo Ventures IX III OCM Opportunities Fund VII Pantheon Europe Fund V Extension VI Menlo Ventures VI New Enterprise Associates OCM Opportunities Fund Pantheon Global Secondary Permira UK I Lightspeed Venture Partners Menlo Ventures VII IX VIIB Fund Permira UK II VII Menlo Ventures VIII New Enterprise Associates OCM Principal Opportunities Pantheon Global Secondary Permira UK Venture Fund III Lightyear Capital Fund I Menlo Ventures X V Fund Fund II Permira UK Venture Fund IV Lime Rock Partners IV Meridian Venture Partners New Enterprise Associates OCM Principal Opportunities Pantheon Global Secondary Permira UK Venture I Lime Rock Partners V Merit Energy Partners F VI Fund II Fund III Perseus 2000 Expansion Lime Rock Resources Merrill Pickard Anderson & New Enterprise Associates OCM Principal Opportunities Pantheon USA Fund Fund Lincolnshire Equity Fund I Eyre V X Fund III Pantheon USA Fund II Perseus Market Opportunity Lincolnshire Equity Fund III Mesirow Capital Partners III New Enterprise Associates OCM Principal Opportunities Pantheon USA Fund III Fund Lincolnshire Pledge Fund Mesirow Capital Partners V XII Fund IV Pantheon USA Fund IV Perseus Partners VII Lindsay Goldberg - Fund III Mesirow Capital Partners VII New Enterprise Associates OCM Real Estate Pantheon USA Fund V Perseus Soros Bio Pharm Lion Capital Fund I Mesirow Partnership XIII Opportunities Fund A Pantheon USA Fund VI Pharos Capital Fund II Litorina Kapital Fund II Fund III New Mountain Partners OCM Real Estate Paragon Partners Philadelphia Ventures II Littlejohn Fund II Mesirow Partnership New Mountain Partners II Opportunities Fund III Paragon Partners II Phildrew Ventures Fund Littlejohn Fund III Fund IV New York CRF Investment OCM Real Estate Parish Capital I Phildrew Ventures Third LNK Partners Metric Institutional Fund Opportunities Fund IV Parish Capital II Fund Lombard Asia III Apartment Fund II New York/Fairview Emerging OCM/GFI Power Park Street Capital Natural Phillips and Drew Lombard Asian Private Mexico Real Estate Managers Opportunities Fund II Resource Development Capital Fund Investment Co Investments New York/Fairview Private O’Donnell & Masur Park Street Capital Natural Phillips-Smith Specialty Lombard Pacifi c Partners MG Stratum Fund Equity Odyssey Investment Resource Fund III Retail Group III Lone Star Fund V MG Stratum Fund II Newbridge Asia IV Partners Fund III Park Street Capital Natural Phoenix Equity Partners III Longitude Venture Partners MG Stratum Fund III NewMargin Partners I OFS Investments III Resource II Phoenix Partners Loyalhanna Venture Fund MGPA Fund I Newstone Capital I Olympic Venture Partners III Park Street Capital Private Phoenix Partners II Lumira Capital I Mid Europa Fund III Newtek Ventures II Olympic Venture Partners V Equity Fund V Phoenix Partners III Lyonnaise Asia Water Midland Montagu NGEN Partners II Olympus Growth Fund II Park Street Capital Private Pinnacle Equity Fund I M D Sass CR III Investissement NGEN Partners III Olympus Growth Fund III Equity Fund VI Pinnacle Equity Fund II M2 Private Equity Fund of MidOcean Partners Niche Emerging Private Olympus Private Placement Park Street Capital Private Pinnacle Venture Debt I Funds MidOcean Partners Fund III Equity Manager Fund Fund Equity Fund VII Pinnacle Venture Debt II Macquarie Alternative Midwest Mezzanine Fund I Nippon Investment Partners One Liberty Fund III Parmenter Realty Fund I Pinnacle Venture Debt III Investment Trust Midwest Mezzanine Fund II NL Ventures III One Liberty Fund IV Partech International Pioneer Ventures Associates Macquarie Alternative Miller Global Fund I NL Ventures IV One Liberty Ventures 2000 Ventures IV Pitango Venture Capital

Fund III RAR/CREL Investment Sevin Rosen Fund III Storebrand International Fund III TPG Biotechnology Partners Pitango Venture Capital Fund II Sevin Rosen Fund IV Private Equity V TCW Special Credits Fund III Fund IV Redpoint Ventures II Sevin Rosen Fund VIII Storebrand International IIIb TPG Credit Strategies Pittsford Ventures I Relativity Fund Sheridan Production Private Equity VI TCW Special Credits TPG Partners VI Pittsford Ventures II Rembrandt Venture Partners Partners Storebrand International Fund IV TPG Star Pittsford Ventures III RFE Investment Partners III Sherry Lane Partners Private Equity VII TCW Special Credits Plus TPG Ventures Pittsford Ventures IVa RFG Private Equity 1 Sierra Ventures III Storebrand International Fund Transportation Resource Pittsford Ventures IVb RHO Ventures V Sierra Ventures IV Private Equity VIII TCW Special Credits V - Partners (Helvetia) Rhone Capital Fund II Sierra Ventures VIII Storebrand Norwegian Principal Fund Transwestern Mezzanine Pittsford Ventures IVc Rhone Partners III Sightline Healthcare I Private Equity 2006 TCW Special Placement II Realty Partners III (Maple Leaf) Rice Mezzanine Lenders Siguler Guff Distressed Storebrand Norwegian TCW Special Placement III Tri Continental Capital VIII Point Judith Venture Fund II Rice Partners II Opportunities Fund II Private Equity 2007 Technologies for Information Tri Continental Fund Polaris Venture Partners IV Richland Ventures I Siguler Guff Small Buyout Storebrand Special & Entertainment III Tri Continental Fund II Polish Enterprise Fund RIMCO Partners IV Opportunities Fund Opportunities II Technology Crossover Tri Continental Fund III Polish Enterprise Fund IV Ripplewood Partners II Silver Lake Partners II Strategic Performance Ventures III Tri Continental Fund IV Polish Enterprise Fund VI Riverside Central Europe Silver Lake Partners III Fund I Technology Crossover Tri Continental Fund VI Polish Private Equity Fund Fund Silver Lake Sumeru Stratus GC I Ventures IV Triad Ventures II I & II Riverstone/Carlyle Global Sinergia con Imprenditori Strukturfonden Technology Crossover Tricap Restructuring Fund II Portfolio Advisors Private Energy and Power Fund IV Skyline III Summit Partners Private Ventures VI Tricor Pacifi c Capital Equity Fund II RLH Investors II Skypoint Telecom Fund II Equity Fund VI Technology Crossover Partners Fund IV Portfolio Advisors Private Rockpoint Real Estate Smac Partners Fund II Summit Partners Private Ventures VII Trident Capital Fund V Equity Fund III Fund I Smac Partners Fund III Equity Fund VII Technology Partners West Trident Private Equity Fund I Portfolio Advisors Private Rockpoint Special Fund Sofi nnova Venture Partners Summit Partners Private Fund IV Trident Private Equity Equity Fund IV Rockport Capital Partners II VII Equity I Telecom Partners II Fund II Portfolio Advisors Rockport Capital Partners III Softbank China Venture Summit Partners Private Telecom Partners II Annex Trinity Ventures IX Secondary Fund Rockwood Capital Real Capital III Equity II Terra Firma Capital Trinity Ventures VII Poteza Adriatic Fund I Estate Partners Fund III Solera Partners Summit Partners Private Partners I Trinity Ventures VIII Prime Ventures II Rockwood Capital Real Sorenson Capital Equity IV Terra Firma Capital Partners Triumph California Primus Capital Fund I Estate Partners Fund IV Sorenson Capital Partners II Summit Partners Private III Triumph Connecticut Primus Capital Fund II Rockwood Capital Real Soros Real Estate Investors Equity V Texas Pacifi c Group True Ventures Primus Capital Fund III Estate Partners Fund V South Atlantic Venture Summit Partners Venture Partners TSG Capital Fund II Primus Capital Fund IV Rosewood Capital IV Fund II Capital I Texas Pacifi c Group TSG Capital Fund III Prince Venture Partners III Royalton Capital Investors South Eastern Europe Fund Summit Subordinated Debt Partners II Tucker Anthony Private Prism Venture Partners I RSTW Partners III South Lake Arthur Fund Texas Pacifi c Group Equity Fund Prism Venture Partners II Rust Ventures Southeast Europe Equity Supermarkets Holding Partners V Tucker Anthony Private Prism Venture Partners III Rustic Canyon/Fontis Fund II SV Life Sciences Fund III Thailand Equity Fund Equity Fund II Prism Venture Partners IV Partners Southgate Partners SV Life Sciences Fund IV The Argentina Private Equity Tucker Anthony Private Private Equity Welt III RWBCO ‘89 Southvest Fund V SVB India Fund Fund I Equity Fund III Private Equity Welt IV Samara Capital Fund I Spectrum Equity Investors Symmetry Secondary Fund The Argentina Private Equity Tucker Anthony Private Procuritas Capital Investors Sanderling IV Spectrum Equity Investors II 2004 Fund II Equity Fund IV II Sanderling IV Co-Investment Spectrum Equity Investors Symphony Technology Third Rock Ventures Tucker Anthony Private Procuritas MBO Invest Sanderling Venture Partners III Group III Thoma Bravo Fund IX Equity Technology Fund Productivity Fund I VI Spectrum Equity Investors Syndicated Communications Thoma Cressey Equity Turkish Private Equity Productivity Fund II Sanderling Venture VI Co IV Ventures II Partners VI Fund II Property Development Investment Spectrum Equity Investors V Syndicated Communications Thoma Cressey Equity TVI - 2 Portfolio No.1 Sankaty Credit Opportunities Sprout Capital IX Ventures V Partners VII TVI - 3 Property Development fund II Sprout Capital VI TA / Advent VIII Thoma Cressey Equity TVM III (German Fund) Portfolio No.2 Sapphire Special Sprout Capital VII TA / Atlantic & Pacifi c IV Partners VIII TVM III (US Fund) Property Development Opportunities Fund Sprout Capital VIII TA Atlantic & Pacifi c V Thomas H Lee IV TVM Life Science Venture Portfolio No.3 Saratoga Partners II Sprout Growth TA Atlantic & Pacifi c VI Thomas H Lee V VI Prospect Venture Partners II Saugatuck Capital II SPV VCOC TA IX Thomas H Lee VI TVM Medical Ventures Prospect Venture Partners Saugatuck Capital III SSR Apartment Value TA Realty Associates III Thomas McNerney & TVM V Information III SB Asia Investment Fund II Fund III TA Realty Associates V Partners Technology Providence Equity Partners Scope Venture Capital I SSR Realty MAC Trust TA Subordinated Debt Thomas McNerney & TVM V Life Science III Sentinel Capital Partners IV STAG Investments I (SCP TA Subordinated Debt II Partners II TWCP Providence Equity Partners Sentinel Property Fund Green) TA X Thompson Street Capital Unicapital Investments I VI Sentinel Realty Partners II StarVest Partners II Tallwood II Partners II Unicapital Investments II Providence Media Partners Sentinel Realty Partners V Starwood Hospitality Fund I TCW / Crescent Mezzanine Three Arch Capital Unicapital Investments III Prudential Private Equity III Sentinel Realty Partners VI Starwood Opportunity III Three Arch Partners III Unicapital Investments IV Prudential Senior Housing SEP III Fund IV TCW / Crescent Mezzanine Three Arch Partners IV Global Partners I Sequel Limited Partnership Sterling Capital Partners III IV TimberVest Crossover Unicapital Investments V Prudential Venture Partners II Stonington Capital TCW / Crescent Mezzanine Partners I Union Square Ventures Prudential Venture Partners Sequel Limited Partnership Appreciation 1994 V TimberVest Crossover United States Power II III Storebrand Emerging TCW Commingled Debt & Partners II Fund III Prutimber Fund One Sequoia Capital Growth Private Equity Markets 2006 Royalty Fund IV Timbervest Partners Updata Venture Partners II Quad Partners II Fund Storebrand Emerging TCW Commingled Debt & TimberVest Partners II Updata Venture Partners III Quadrangle Capital Partners Sequoia Capital III Private Equity Markets 2007 Royalty III TL Ventures Updata Venture Partners IV Quadrangle Capital Sequoia Capital IV Storebrand International TCW Energy Fund X TL Ventures II US Equity Partners I Partners II Sequoia Capital V Private Equity I TCW Realty Fund IV TL Ventures III US Venture Partners III Quantum Energy Partners V Sequoia Capital VI Storebrand International TCW Realty Fund V TL Ventures IV US Venture Partners IV Quartus Capital Partners I Servisen Private Equity Private Equity II TCW Realty Fund VI TL Ventures V US Venture Partners V Questor Partners Fund Fund I Storebrand International TCW Shared Op Fund III TowerBrook Investors II US Venture Partners VI Quintana Capital I Servisen Private Equity Private Equity III TCW Shared Opportunity TowerBrook Investors III US Venture Partners VII RAR/CREL Investment Fund II Storebrand International Fund V TPG Asia V US Venture Partners VIII Fund I Sevin Rosen Fund II Private Equity IV TCW Special Credits TPG Biotechnology Partners USIT I

USIT II Welsh Carson Anderson & WPG Venture Associates V USRG Power and Biofuels Stowe CP IV WWC Capital I Fund II Welsh Carson Anderson & WWC Capital II USRG Power and Biofuels Stowe I Xylem II Fund III Welsh Carson Anderson & Yucaipa American Alliance Valor Equity Partners Fund II Stowe II Fund I VantagePoint Cleantech Welsh Carson Anderson & Yucaipa Corporate Initiatives Partners Stowe III Fund I VantagePoint Cleantech Welsh Carson Anderson & Zell / Chilmark Fund Partners II Stowe IV Zephyr Korea VantagePoint Venture Welsh Carson Anderson & Partners III Stowe IX VantagePoint Venture Welsh Carson Anderson & Partners IV Stowe V VantagePoint Venture Welsh Carson Anderson & Partners V Stowe VI Varde Select Fund Welsh Carson Anderson & Vectis Life Science Fund Stowe VII Vector Capital II Welsh Carson Anderson & Vector Fund IV Stowe VIII Vedanta Opportunities Fund Welsh Carson Anderson & Ventech Partners Stowe X Venture Investment Welsh Carson Anderson & Associates Stowe XI Venture Lending & Leasing I Westbrook Real Estate Venture Lending & Leasing Fund I II Westbrook Real Estate Ventures West 7 Fund II Ventures West 8 Westbrook Real Estate Veritas Capital Fund Fund IV Vestar Capital Partners II Western National Realty Vestar Capital Partners III Fund II Vestar Capital Partners IV Weston Presidio II Vestar Capital Partners V Weston Presidio Offshore Vicente Capital Partners Capital Growth Fund Wexford Partners I Virgin Green Fund Wexford Partners II Vista Group III Wexford Partners III VS&A Communications Wexford Partners IV Partners III Wexford Partners IX W Capital Partners Wexford Partners V W Capital Partners II Wexford Partners VI Walnut Growth Partners Wexford Partners VII Wand/Acordia Investments Wexford Partners VIII Warburg Pincus Capital Wexford Partners X Company Whippoorwill Vega Partners Warburg Pincus Equity III Partners Whitehall Street III & IV Warburg Pincus Whitehall Street V-S & VI-S International Partners Whitman Heffernan & Rhein Warburg Pincus Private Fund II Equity IX Whitney Subordinated Debt Warburg Pincus Private Fund Equity VIII WIIG Communications Warburg Pincus Private Partners Equity X William Blair Venture Warburg Pincus Ventures Partners III Washington & Congress Willis Stein & Partners Capital Partners Willis Stein & Partners II Waterland Private Equity Willis Stein & Partners III Fund I Wind Point Partners II Weathergage Venture Wind Point Partners V Capital Windjammer Mezzanine & Wellspring Capital Partners Equity Fund II II Windsor Columbia Realty Wellspring Capital Partners Fund III Wingate Partners Wellspring Capital Partners WLR Recovery Fund IV WLR Recovery Fund II Welsh Carson Anderson & WLR Recovery Fund III Stowe CP WLR Recovery Fund IV Welsh Carson Anderson & Worldview Technology Stowe CP II Partners IV Welsh Carson Anderson & WPG Enterprise Fund Stowe CP III WPG Venture Associates IV