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rs have invested in Institutional Capital Network, Inc., the parent company of iCapital, including affiliates of BlackRock, Inc. ("BlackRock") and Credit Suisse Group AG ("Credit Suisse"). iCapital may offer products managed or sponsored by such investors as BlackRock and Credit Suisse or its affiliates and
s exchange and may not be traded daily or in the volume typical of trading on a larger, more established securities exchange or trading platform. Liquidity of Investments. Certain Funds' portfolios will include securities that are not actively or widely traded (including without limitation securities issued by certai
rs have invested in Institutional Capital Network, Inc., the parent company of iCapital, including affiliates of BlackRock, Inc. ("BlackRock") and Credit Suisse Group AG ("Credit Suisse"). iCapital may offer products managed or sponsored by such investors as BlackRock and Credit Suisse or its affiliates and
s exchange and may not be traded daily or in the volume typical of trading on a larger, more established securities exchange or trading platform. Liquidity of Investments. Certain Funds' portfolios will include securities that are not actively or widely traded (including without limitation securities issued by certai
rs have invested in Institutional Capital Network, Inc., the parent company of iCapital, including affiliates of BlackRock, Inc. ("BlackRock") and Credit Suisse Group AG ("Credit Suisse"). iCapital may offer products managed or sponsored by such investors as BlackRock and Credit Suisse or its affiliates and
s exchange and may not be traded daily or in the volume typical of trading on a larger, more established securities exchange or trading platform. Liquidity of Investments. Certain Funds' portfolios will include securities that are not actively or widely traded (including without limitation securities issued by certai
rs have invested in Institutional Capital Network, Inc., the parent company of iCapital, including affiliates of BlackRock, Inc. ("BlackRock") and Credit Suisse Group AG ("Credit Suisse"). iCapital may offer products managed or sponsored by such investors as BlackRock and Credit Suisse or its affiliates and
s exchange and may not be traded daily or in the volume typical of trading on a larger, more established securities exchange or trading platform. Liquidity of Investments. Certain Funds' portfolios will include securities that are not actively or widely traded (including without limitation securities issued by certai
rs have invested in Institutional Capital Network, Inc., the parent company of iCapital, including affiliates of BlackRock, Inc. ("BlackRock") and Credit Suisse Group AG ("Credit Suisse"). iCapital may offer products managed or sponsored by such investors as BlackRock and Credit Suisse or its affiliates and
s exchange and may not be traded daily or in the volume typical of trading on a larger, more established securities exchange or trading platform. Liquidity of Investments. Certain Funds' portfolios will include securities that are not actively or widely traded (including without limitation securities issued by certai
Entities connected to both Credit Suisse and Liquidity of Investments

Fidelity
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATIONiCapital
ORGANIZATION
Stanton
PERSON
Michael Shannon
PERSONiCapital Network
ORGANIZATION
New York
LOCATION
Virginia Giuffre
PERSON
North America
LOCATION
the University of Virginia
ORGANIZATIONJohn C. Robertshaw
PERSONKidder, Peabody & Co.
ORGANIZATIONBlackRock, Inc.
ORGANIZATION
BlackRock
ORGANIZATIONUBS Financial Services Inc
ORGANIZATIONEileen Alexanderson
PERSONGroup AG
ORGANIZATIONBNY Capital Corporation
ORGANIZATION
University of Delaware
ORGANIZATIONEileen Duff Blalock
PERSON