For purposes of this brochure, unless otherwise noted, the “Adviser” or “Bain Capital Real Estate” means Bain Capital Real Estate, LP, a Delaware limited partnership, which is wholly owned by Bain Capital, LP (“Bain Capital”). The Adviser provides investment advisory services to pooled investment vehicles (the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). As the investment adviser of the Funds, the Adviser, along with each Fund’s General Partner (each, a “General Partner”), identifies investment opportunities for, and participates in the acquisition, financing, development, management, monitoring and disposition of investments of, each applicable Fund. Bain Capital Real Estate also provides investment management services to clients in separately managed accounts. The Funds and separately managed accounts are referred to collectively as “Clients.” The primary focus of the Adviser’s investment advisory activity is researching and advising on real estate and real estate-related investments. Such investments may take the form of privately negotiated investment instruments including unregistered equity from both U.S. and non-U.S. issuers or investments, direct or indirect investments in real estate assets or real estate-related assets, real estate related debt instruments, corporate securities, real estate funds and in joint ventures investing in real estate

or real estate-related assets, including, but not limited to, investments in life sciences/lab space, industrial-infill, medical office, self-storage, senior housing, media/content space, , residential-horizontal apartments and industrial facilities and in companies associated with such facilities (collectively, “Assets”). Although the focus of each Client is primarily on real estate and real estate-related investments, the Adviser may from time to time recommend other types of investments consistent with the respective Client’s investment strategy and objectives. The Adviser provides investment advisory services to the applicable Clients pursuant to separate investment and advisory agreements (each, an “Advisory Agreement”). With respect to the Funds, investment advice is provided by the Adviser directly to the applicable Funds, subject to the direction and control of the affiliated General Partner of such Fund and not individually to the investors in the Funds. Any restrictions on investments are established by the General Partner of the applicable Fund and are set forth in the documentation received by each limited partner prior to investment in such Fund. Currently there are no restrictions on the types of investments, companies or assets in which a Fund may invest. As of December 31, 2023, Bain Capital Real Estate managed approximately $9,367,820,0001 of Client assets, all of which are managed on a discretionary basis.