Investor Qualification Definitions

An individual with income over $200,000 (or $300,000 jointly with a spouse or spousal equivalent) in each of the two most recent years, with the same reasonably expected in the current year; or a net worth over $1 million, individually or jointly, excluding primary residence.

An individual holding a Series 7, 65, or 82 license in good standing, or a 'knowledgeable employee' of a private fund.

An entity with assets or investments exceeding $5 million, or in which all equity owners are themselves accredited investors.

Certain institutions, including banks, insurance companies, registered investment advisers, and qualifying family offices.

At least $1.4 million in assets under management with the adviser immediately after entering into the advisory contract; or

A net worth greater than $2.7 million, excluding primary residence and related indebtedness.

Qualified Purchasers and knowledgeable employees are also deemed Qualified Clients.

An individual owning not less than $5 million in investments (including jointly with a spouse who is also a Qualified Purchaser).

A family-owned company owning not less than $5 million in investments, held by two or more close family members or related trusts, estates, or charitable entities.

A trust (not formed to acquire the offered securities) in which the trustee and each settlor independently qualify.

Any person or entity owning and investing on a discretionary basis not less than $25 million in investments, for its own account or the accounts of other Qualified Purchasers.