AIP Management US Inc

Item 5: Fees and Compensation
AIP US receives an advisory fee, which is agreed from time to time with AIP Parent and is
calculated by taking into consideration (a) the compensation of the employees who provide the
advisory services and (b) the allocation of any overhead and expenses directly attributable to
the provision of such services. The advisory fee is payable in arrears at least on an annual basis.
AIP US is not entitled to any other compensation other than that paid by AIP Parent. The Funds
do not compensate AIP US directly, though a portion of the management fee paid to AIP Parent
with respect to the Funds will be used to pay AIP US’s advisory fee.
Each Fund pays a performance fee (carry) to certain employees of AIP US, AIP Parent, other
affiliates of AIP Parent and the AIP US, and certain third parties subject to the terms of the
relevant fund governing documents. Additionally, certain employees in AIP are all participants
in a co-investment scheme where they are eligible for a cash return based on the performance
of the funds (i.e. no return is obtained unless the performance of the funds exceed certain
return requirements). The participation is for the employees’ own account and on their own
risk, and the employees have paid for their own participation, i.e. the co-investment is not
granted by AIP US.
AIP Parent can pass on the costs of AIP US to the Funds in relation to establishment, transaction
costs, liability insurance, tax services, regulatory fees, auditing and accounting assistance,
various direct administration costs, or costs related to asset management.
Fees and compensation information contained herein is summary only. Investors in Funds
should refer to the offering documents for the relevant fund for a complete understanding of
fees and expenses applicable to their investment in the fund.

Item 7: Types of Clients
AIP US provides non-discretionary investment advisory services to AIP Parent with respect to
the Funds. Investment advice is provided directly to AIP Parent and not individually to the
investors in the Funds. Investors in the Funds may include, but are not limited to, high net
worth individuals, pensions funds, life assurance companies, and other regulated financial
investors, family offices and states-sponsored funds.
Details concerning applicable investor suitability criteria and minimum investment are set forth
in the respective Fund Governing Documents and subscription materials.