CIP Merchant Capital Limited (CIP) RED ORD NPV

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• Key Information Document (KID)

The Company will seek to achieve its investment objective through investing primarily in equity and other products and instruments of predominantly listed and quoted companies, where the Board believes the relevant target company is undervalued and could benefit from strategic, operational or management initiatives, achieved through a private equity style investment philosophy. The Company will invest primarily in equity and equity-linked securities (and related instruments), as well as debt, convertible debt and other financial instruments with equity characteristics, of companies that the Board believes typically have at least two or more of the following characteristics: ability to achieve a superior risk adjusted return with a medium/long term target IRR of 20%; cash generative; attractive management track records; strong fundamentals; potential for liquidity or exit within an identified time frame; and/or potential for the relevant company to have a competitive advantage.