Private Capital

This is not an offer. Securities can be offered by a prospectus only. Since investing in non-traded alternative investments is not suitable for all investors, the prospectus should be read carefully before investing. Investors are advised to consider the investment objectives, risks, charges and expenses before investing. The prospectus, which contain this and other information about the investment offerings, are available at sec.gov, on this website and may be obtained by calling 866-650-0650.

Alternative investments are subject to significant risks, some of which are summarized in the Risk Factors section of this website and are fully detailed in the Risk Factors section in the offering's prospectus. Investors should read and understand all of the risks and the entire prospectus before making a decision to invest.

No offering is made to residents of New York, Maryland or any other state, except by a prospectus filed with the Department of Law of the state of New York, the Maryland Division of Securities or the respective state securities administrator. Neither the U.S. Securities and Exchange Commission (SEC), the attorney general of the state of New York, nor any other state securities administrator has passed on or endorsed the merits of any offering or the adequacy or accuracy of this website or prospectuses. Any representation to the contrary is unlawful.

This material is provided by CNL and its affiliates and is intended for general use with the public, unless further restricted. CNL and its affiliates cannot provide investment advice for any individual or any individual situation, and are not acting in a fiduciary capacity to any investor. Do not look to this material for any investment advice. Please speak with your personal financial advisor regarding what share class may be best for your personal investment strategy. CNL and its affiliates have financial interests that are served by the sale of products it distributes.