The Trust’s investment strategy is primarily focused on European mid‑market private equity, reflecting its approach since inception in 2001. The mid-market is an area where a long‑term approach and active ownership can support sustainable value creation. Europe offers a broad opportunity set of established, profitable businesses, often founder‑led or corporate carve‑outs, where operational improvement and strategic development can meaningfully enhance performance over time.

While Europe remains the core geographic focus, the portfolio may also include selective exposure to North America, typically accessed through European private equity managers with transatlantic reach and, on a limited basis, through North America‑focused funds. This measured approach allows the Trust to broaden opportunity sources while maintaining a clear European orientation.