Bruce Black

Provides audit and accounting services

Provides brokerage services

Functions as a College/University

Gracorp Capital Advisors experience and capabilities include wholly or partially financing the projects they manage for their clients. The firm has relationships with banks, private placement lenders, bond underwriters and international lenders. They also provide equity capital, which comes primarily from two investment vehicles. The Connor, Clark & Lunn Gvest Traditional Infrastructure LP (the Fund) focuses on long-term investing in traditional public infrastructure projects. It is an open-ended private Canadian limited partnership fund. The Fund is governed jointly by Gracorp and Connor, Clark & Lunn Traditional Infrastructure Ltd. (CC&L Infrastructure), an affiliate of Connor, Clark & Lunn Financial Group (CC&L). Employees of the Graham Group, Gracorp's affiliate, are significant investors in the Fund in their personal capacities. CC&L Infrastructure invests in a broad range of North American infrastructure companies and projects with long lives, highly attractive risk-return characteristics and the potential to generate stable cash flow. Private clients of CC&L provide the majority of the Funds capital. Gracorp is the exclusive development manager for the Fund, while CC&L is exclusively responsible for the financial management and supply of new third-party investments into the Fund. The Fund employs a long-term buy-and-hold strategy. The Gvest Private Equity LP continues a long history of private investment with clients of Graham. The Fund is an investor in private developments and assets or businesses with strong covenants and prospects for long-term cash flow. It is an open-ended private Canadian limited partnership fund. The Fund is governed by Gracorp representatives and at least two independent outside directors. The Funds capital is primarily provided by employees of Graham and other accredited investors. The fund participates in selected projects during the construction or development period, followed by a recapitalization of the project with third parties. The Fund is also prepared to consider long-term buy-and-hold strategies for projects with consistent cash flow.