h assets may be on average 3.50% to 4.00% above LIBOR, exceeding available risk-adjusted returns from public bonds with a comparable credit profile. The Portfolio Advisor expects that the Issuer's investment in such assets will result in anticipated excess returns due to scarcity premium, illiquidity premium, and cer

ocess, which may allow the Portfolio Advisor to have more influence on investment terms than it would for secondary market financing opportunities. The Portfolio Advisor expects to perform detailed due diligence and financial modeling to review investment opportunities. The Issuer's investment process will be design

for comparable cash and synthetic credit profiles, secondary market executed trades and asset coverage analysis. IV. Construct diverse portfolio — The Portfolio Advisor expects to accumulate a portfolio of at least 30 assets and seek diversification by sub-sector and tenor. No single investment should comprise more