and could adversely affect the aggregate returns realized by the Fund and Investors. If any of the targeted Investment Funds are not organized, such concentration risks may be further magnified. Non-U.S. Investments Investments outside the United States or denominated in non-U.S. currencies pose exchange risks as well as a range of other potential risks, including expropriation, confiscatory taxation, political or social instability, illiquidity, price volatility and market manipulation. In addition, less information may be available regarding non-U.S. issuers, and such issuers may be subject to accounting, auditing and financial reporting standards and requirements which are different than those which apply to U.S. issuers. There is generally less government supervision and regulation of exchanges, brokers and issuers in non-U.S. jurisdictions than there is in the United States. Furthermore, there is generally greater difficulty in taking appropriate legal action in non-U.S. courts and it may be difficult to enforce judgments obtained in non-U.S. courts. Currency Risk For a description of certain currency risks associated with the Fund’s investment in the European Fund, see “Bain Capital─Key Elements of Bain Capital’s Investment Strategy─Currency Risk.” Reliance on Principals of Bain Capital and Turnover; Non-exclusivity The success of the Investment Fund’s in which the Fund invests will depend materially upon the active participation of the partners of Bain Capital. There can be no guarantee of the continuing participation of any one or more of these individuals, the loss of whose services could have a material adverse effect upon the Investment Funds. Although the partners and other employees of Bain Capital are expected to devote as much time as they believe is necessary to conduct the affairs of the Investment Funds, none of them generally will be required to devote any particular portion of his or her working time to the affairs of any of the Investment Funds. These individuals are expected to devote substantial working time to conducting the affairs of other funds managed by Bain Capital. Illiquidity of the Fund’s Investments No market currently exists for the sale of the Fund’s investments, and none is expected to develop. Furthermore, the transferability of such investments is generally restricted. This lack of marketability also may make certain of the Fund’s investments difficult to value accurately. Lack of Operating History; No Guarantees The Fund is a newly formed entity and has no operating history. The past investment performance of funds managed by Bain Capital or of Fund I may not be construed as an indication of the future results of an investment in the Fund.
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