Lord Abbett & Co LLC

Fees and Compensation
Lord Abbett’s investment advisory fees typically are based on a percentage of the value of the account. Fees are set
based on the investment strategy and the type and level of services provided. Fees for institutional client accounts
normally are billed and payable in arrears based on month- or quarter-end assets, subject to adjustments for interim
contributions to or withdrawals from an account. Timing and calculation of fees for Managed Account Programs and
Model Portfolio Programs vary depending on the Sponsor or reasonable client request.
Appendix 1 to this brochure contains Lord Abbett’s standard institutional separate account fee schedules and the typical
range of fees payable to Lord Abbett by Managed Account Programs and Model Portfolio Programs.
Lord Abbett retains discretion to negotiate, and does negotiate, the fees charged to clients for investment advisory
services, subject to applicable law. When Lord Abbett negotiates investment advisory fees, it takes into consideration a
client’s special circumstances, asset levels, service and regulatory requirements or other factors, each as determined in
Lord Abbett’s sole discretion. Some fee schedules provide additional breakpoints on larger accounts, including investment
companies or other pooled investment vehicles. Lord Abbett charges different advisory fees for different strategies and
accounts and permits clients and financial advisors to aggregate the assets of related accounts to take advantage of
breakpoints. Fees for Managed Account Programs (other than dual-contract programs) are typically paid to Lord Abbett by
the program’s Sponsor from the single fee a client pays to the Sponsor.
Certain clients have negotiated, and may from time to time seek to negotiate, most favored nation (“MFN”) clauses in their
investment management agreements with Lord Abbett. These provisions generally require Lord Abbett to notify the client
if Lord Abbett determines that it has implemented a more favorable fee arrangement with a similarly-situated client
account (such determination, in each case, in Lord Abbett’s sole discretion) and offer the MFN client the same fee
arrangement. In determining whether accounts are similarly situated, Lord Abbett considers relevant factors that include,
but are not limited to, the strategy involved, relevant composite, investment guidelines and restrictions/side letters, client
type, amount of assets under management, overall relationship size, fee structure (including any net profit interests),
servicing level, channel through which the client account was obtained and is serviced, applicable contractual
arrangement, extent of Lord Abbett investment management responsibilities, source of assets, timing of funding,
relationship to Lord Abbett (e.g., whether the client is an affiliate, strategic partner, or Lord Abbett partner or employee),
and regulatory and reporting requirements. Lord Abbett does not agree to MFN provisions in all circumstances.
From time to time, Lord Abbett has agreed on a performance-based fee structure with a qualified client, which fee
structure will be designed to be in compliance with the Advisers Act and other applicable law.
Lord Abbett’s management fees do not include fees charged by a client’s custodian or the fees and other expenses
deducted by or paid to third party service providers from the assets of a non-proprietary fund in which a client account

may invest. In addition, client accounts usually incur transaction costs when they buy and sell securities. For more
information, please see the Brokerage Practices section below.
Lord Abbett provides investment advisory and administrative services to the Lord Abbett Mutual Funds and the Lord
Abbett Interval Funds. Lord Abbett receives investment advisory and administrative fees for its services typically paid
monthly in arrears based on the average daily net assets of each Fund at annual rates described in each Fund’s
Prospectus and Statement of Additional Information. Similarly, Lord Abbett receives investment advisory fees for its
services to the Lord Abbett Global Funds, which fees accrue daily and are calculated and payable monthly in arrears at
annual rates as described in each fund’s offering documents. In the case of private funds for which Lord Abbett provides
investment advisory services, the methodology for payment of Lord Abbett’s fee will vary by fund and potentially by
investor, and will typically be specified in the fund’s offering documentation and/or related agreements entered into by
Lord Abbett and the applicable investor.

Performance-Based Fees and Side-By-Side Management
Lord Abbett charges both performance-based fees and asset-based fees. The management of accounts with
performance-based fees has the potential to cause a conflict of interest by creating an incentive to favor such accounts in
order to generate greater revenue for Lord Abbett. A similar conflict exists from managing client accounts paying a higher
asset-based fee than other accounts or accounts containing assets owned by Lord Abbett, its employees, or its owners.
Lord Abbett has adopted securities allocation policies and procedures to address these potential conflicts of interest.
These policies and procedures are reasonably designed to monitor and prevent Lord Abbett from inappropriately favoring
one type of account over another. Further details on Lord Abbett’s securities allocation policies and procedures are
provided in the Brokerage Practices section below.
Co-Investments
From time to time, Lord Abbett may offer certain client accounts the opportunity to co-invest in private credit transactions
alongside one another, subject to certain restrictions. In each case where co-investors participate in an investment, Lord
Abbett may allocate expenses associated with such investment, including broken-deal expenses, among such co-
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Types of Clients
Lord Abbett provides advisory services to a variety of institutional clients, the Lord Abbett Mutual Funds, the Lord Abbett
Interval Funds, other registered investment companies sponsored by third parties, the Lord Abbett Global Funds, other
foreign funds, privately offered commingled funds and various Managed Account Programs and Model Portfolio
Programs. For institutional separate accounts, Lord Abbett typically requires a minimum account size that ranges between
$10–100 million based on the particular strategy being used for the account. Lord Abbett reserves the right, in its sole
discretion, to waive or change any such investment minimums in certain circumstances. In the event Lord Abbett waives
its investment minimum for an institutional separate account client, such client’s account may not hold all of the same
securities or proportions of securities as other clients in similarly managed accounts due to a variety of reasons, including,
but not limited to, liquidity considerations, the interest in avoiding holding non-standard principal amounts of fixed-income
securities, the price of portfolio securities, or an account’s lower availability of investable assets. Performance may be
lower or higher for such client accounts.
Managed Accounts and Model Portfolios are typically smaller in size. Minimum account sizes generally range from
$100,000 to $500,000 depending on the investment strategy and Sponsor requirements. Lord Abbett may waive account
minimums and change the minimum account requirements in its discretion from time to time.

Methods of Analysis, Investment Strategies, and Risk of Loss