Value-Added, Operational Investment Focus

Since closing our first fund in 2000, Highstar has successfully sourced, managed and harvested attractive value-added investments within the broader infrastructure investment class. We acquire assets and businesses that require a significant amount of work and operational expertise to optimize their long term value. While we invest in 'take and hold' investments, we are not a 'take and hold' investor. Rather, we seek to generate returns for our investors once we have achieved our principal investment goals, including sustainable EBITDA growth. Our hands-on management approach and track record is drawn from the strong operational experience of our Partners and Senior Advisors. Together, our Partners and Senior Advisors have held senior executive positions with numerous infrastructure companies, including a number of Highstar's portfolio companies. We intend to continue to utilize our collective in-house operational capabilities to proactively guide and support strategic direction, value creation and risk management at each of our portfolio companies. We believe our strategy is not easily replicated and will continue to be a significant competitive advantage for us.