Common use of Purposes of the Fund Clause in Contracts

Purposes of the Fund. The Fund will (i) operate as a closed-end, non-diversified management investment company (A) in accordance with the 1940 Act; and (B) subject to any fundamental policies and investment restrictions described in the Form N-2; and (ii) and is organized for the purpose of realizing capital appreciation with limited variability of returns and of engaging in all activities and transactions as the Board may deem necessary or advisable in connection therewith, including, without limitation: (a) allocating capital among a number of pooled entities (each, an “Underlying Fund” and collectively, the “Underlying Funds”), each managed by an independent investment adviser (each, an “Underlying Adviser” and, collectively, the “Underlying Advisers”) pursuant to relative value investment strategies or other techniques and subject to various risks; (b) to engage attorneys, independent accountants, or such other persons as the Board may deem necessary or advisable; (c) to maintain for the conduct of Fund affairs one or more offices and to engage personnel, whether part time or full time, and do such other acts as the Board may deem necessary or advisable; and (d) designating from time to time persons to act as signatories for the Fund, including, without limitation, persons authorized to execute and deliver any filings with the SEC or applicable federal or state regulatory authorities or self-regulatory organizations.