Each year, we are grateful for the opportunity to invest in market-leading companies alongside outstanding management teams. In 2024, we achieved significant milestones across both investments and firmwide initiatives.

We invested in a new platform company in our Consumer sector, Roland Foods, a branded purveyor of fine global ingredients serving the foodservice industry for over 90 years, exemplifying our thematic investment approach. We also partnered with portfolio companies to drive growth, completing ten add-on acquisitions.

We delivered meaningful realizations, including the sale of Nonni’s to CTH Invest, a Ferrero-related company, as well as dividends at Quest and Presence. Following the new year, we reached an agreement to sell Simple Mills to Flowers Foods. Lastly, we completed our first single-asset continuation vehicle for Circana, providing liquidity options for investors while securing growth capital for the Company. These milestones underscore our commitment to returning capital to our investors and co-investors.

Beyond our portfolio, we take pride in the impact of our work through our ESG and DEI programs. Guided by our core values of integrity, transparency, and respect, we emphasize diverse perspectives and an impact-oriented approach to investing.

As we look ahead to 2025, our focus remains on supporting our portfolio companies, driving growth, creating value, and delivering strong realizations to our investors and co-investors. Thank you for your continued trust and support as we embark on this journey together.