Paul Capital utilizes negotiated transactions in order to meet specific seller needs that may not be addressed through a traditional transaction, such as a straight cash purchase of LP interests, to the benefit of all parties involved. A negotiated transaction allows an appropriate investment of time and effort by all parties to ensure a successful and timely outcome, thereby mitigating transaction risk and optimizing the outcome for both buyer and seller. It allows more thorough buyer due diligence and maintains better relationships with the underlying GPs and portfolio companies due to greater "investment" by the buyer.

More specifically, benefits include but are not limited to:

1. The ability to manage the P&L or earnings impact of a sale by customizing a deferred payment structure or consensually selecting funds across a portfolio to maximize pricing and minimize a prospective discount to the purchase price
2. Achieving a sale close to or equal to net asset value through a joint venture structure where the risks and upside are shared between buyer and seller
3. The divestment of largely unfunded commitments to free capital for other, more strategic objectives
4. The ability to maintain an upside interest in a portfolio where future outcomes are difficult to predict

Auctions create numerous pitfalls including: GP fatigue as a result of administrative burden, uncertain pricing caused by adverse buyer behavior in a multi-step bidding process or a general lack of privacy and discretion in a transaction. Paul Capital maintains an outstanding reputation for dedication, integrity, intellectual creativity and discretion throughout the transaction process.