SUB-ADVISORY AGREEMENTSub-Advisory Agreement • July 8th, 2008 • Endowment TEI Fund, L.P. • Delaware
AGREEMENT dated as of November 27, 2007 between Endowment Advisers, L.P., a Delaware limited partnership having its principal place of business in Texas (herein called the “Adviser”), The Endowment Fund GP, L.P., a Delaware limited partnership having its principal place of business in Texas (as the general partner of the Adviser, and referred to herein as the “General Partner”) and Novant Asset Management, LLC, a North Carolina Limited Liability Company with its principal place of business in North Carolina (herein called the “Sub-Adviser”)(“Sub-Advisory Agreement”).
