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Kensington Global Private Equity Fund

TORONTO, ONTARIO -- (Marketwired) -- 08/15/14 -- Attention: Business / Financial Editors

Kensington Capital Advisors Inc. (the "Manager"), the manager of Kensington Global Private Equity Fund ("Global Fund"), announced today that it has approved a proposed transaction involving the Global Fund and a new private investment trust to be known as "Kensington Private Equity Fund" ("New Fund").

Under the proposed transaction, Global Fund will transfer all of its portfolio assets to New Fund which will issue units to Global Fund in consideration. Global Fund will then redeem its own units and distribute New Fund units in the same number and of the same class to unitholders. As a result of the Transaction, unitholders of Global Fund will become unitholders of New Fund in the same economic position as they were prior to the Transaction. New Fund will have the same investment portfolio managed by the same investment team with the same investment objectives and strategies as Global Fund. The rights attaching to the units of New Fund, including the fees payable, will remain the same. The principal change resulting from the Transaction is the structural transition to a private fund that is not a reporting issuer.

A special meeting of Global Fund unitholders has been called and will be held at 8:30 a.m. (Toronto time) on September 17, 2014 at 1 First Canadian Place, Suite 6300, 100 King Street West, Toronto, Ontario to consider and vote upon the Transaction. Details of the Transaction will be outlined in a management information circular to be prepared and sent to unitholders of record on August 18, 2014 in connection with the special meeting.

About Kensington:

Kensington, founded in 1996, is a leading Canadian investor in alternative investments. Kensington is best known for its private equity investment programs, having committed over $600 million since 2002, and is also an active investor in infrastructure assets and hedge funds. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information on Kensington and current offerings, please visit www.kcpl.ca.

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