LISC Fund Management LLC

Item 7: Types of Clients

Our Clients are the Funds, as described in Item 4 above, and LFM owes a fiduciary duty to Clients
under the Advisers Act. The Funds are generally open to, among others, ins tu ons, pension
plans, endowments, high net-worth individuals, financially sophis cated individuals, and other
sophis cated investors. Fund Investors are not Clients of LFM, unless they have separately
entered into an adviser-client rela onship with LFM. Accordingly, LFM does not owe Fund
Investors a fiduciary duty under the Advisers Act.
Currently, the minimum investment in the Funds ranges from $0 to $25,000,000. Specific
investment requirements are set forth in each Fund’s Offering Documents. Such minimum
investment are waived on a case-by-case basis, subject to our discre on.

CoInvestment Opportuni es
As deemed appropriate, LFM, at its discre on, provides coinvestment opportuni es to Fund
Investors, other Clients, strategic investors, lenders, other third par es or to LISC. There is no
minimum alloca on for a Fund before coinvestment are offered and there is no maximum
coinvestment alloca on. Coinvestment alloca ons will depend on the facts and circumstances
specific to each unique circumstance. LFM will consider the following, among other factors, in
making coinvestment alloca on decisions:
       a Fund’s desired exposure to the investment;
       whether a coinvestor adds strategic value, industry exper se or other similar synergies;
       whether a poten al coinvestor has expressed an interest in evalua ng coinvestment
        opportuni es;
       whether a poten al coinvestor has demonstrated long-term and/or con nuing
        commitment to the poten al success of LFM, its Clients or other coinvestments;
       the ability of a poten al coinvestor to process and execute on a coinvestment decision
        within the required meframe of the par cular transac on;
       LFM’s assessment of a poten al coinvestor’s ability to invest an amount of capital that
        fits the needs of the investment, taking into account the amount of capital needed as
        well as the maximum number of investors that realis cally par cipate in the
        transac on;
       willingness to compensate LFM’s services in connec on with the coinvestment; and
       various other factors.