6. Net Assets

CVC-PEF, at the direction of the General Partner, has the authority to issue an unlimited number of Units of each class.

CVC-PEF offers or expects to offer eight classes of Units: Class S, Class D, Class I, Class R-S, Class R-D, Class R-I, Class C and Class G. Standard Units (Class S, Class D and Class I Units) are available to all investors. Anchor Units (Class R-S, Class R-D and Class R-I Units) are available to investors until the one-year anniversary of the Initial Closing Date, unless otherwise agreed to by the General Partner. Class C Units are available to CVC, its affiliates, certain employees of CVC and officers and directors of CVC-PEF. Class G Units are available to any persons who the General Partner has determined in its sole discretion qualify as eligible investors associated with CVC. The key differences among the classes of Units relate to ongoing Servicing Fees, Subscription Fees, Management Fees and Incentive Allocations. See below for a description of Servicing Fees and Subscription Fees. See Note 5. “Related Party Transactions” for a description of Management Fees and Incentive Allocations.

Class S Units, Class D Units, Class R-S Units and Class R-D Units bear or are expected to bear a monthly servicing fee (the “Servicing Fee”) in an amount equal to, on an annualized basis, 0.85%, 0.25%, 0.85% and 0.25%, respectively, of the Transactional NAV of such Class as of the end of each month. No Servicing Fee will be payable with respect to Class I, Class R-I, Class C and Class G Units. In calculating the Servicing Fee, CVC-PEF will use the Transactional NAV as of the end of each month before giving effect to any accruals for the Servicing Fee, redemptions, if any, for the applicable month and distributions payable on Units.

Certain financial intermediaries may charge Unitholders upfront selling commissions, placement fees, subscription fees or similar fees (the “Subscription Fees”) of up to (i) 3.5% of Transactional NAV on Class S Units and Class R-S Units and (ii) 1.5% of Transactional NAV on Class D Units and Class R-D Units sold in the offering. In certain circumstances the Subscription Fees may be paid to CVC and reallocated, in whole or in part, to the financial intermediary that placed the applicable Unitholder into the Fund. No Subscription Fees will be paid with respect to any other Units, or any Units issued pursuant to the Fund’s distribution reinvestment plan. Subscription Fees shall be paid by the applicable Unitholder outside of its investment in the Fund and will not impact the Fund’s NAV.

CVC-PEF Units are offered on a monthly basis effective as of the first calendar day of each month. The purchase price per Unit of each Class is equal to the Transactional NAV per Unit for such Class as of the last calendar day of the immediately preceding month. Units were first issued on April 1, 2026, at an initial subscription price of $100.00 per Unit plus applicable Subscription Fees. The Transactional NAV was first determined as of April 30, 2026.

No Class S, Class D or Class I Units have been issued since the Initial Closing Date.

Redemption Program

At the discretion of the General Partner and in accordance with the Partnership Agreement, CVC-PEF expects to implement a redemption program (the “Redemption Program”), pursuant to which it expects to redeem in each quarter up to 5% of Units outstanding, measured using the aggregate NAV of the Fund (including the NAV attributable to any feeder funds, including the Feeder TE and any Parallel Funds) as of the last calendar day of the immediately preceding calendar quarter (the “Redemption Limitation”). The Redemption Program is expected to commence the quarter following the quarter in which the Initial Closing Date occurs.

Under the Redemption Program, the General Partner currently expects to redeem Units quarterly at the NAV per Unit as of the date specified in the Partnership Agreement (the “Redemption Date”). Any redemption request for Units (other than any Class C Units acquired by CVC as payment of the Management Fee and/or Incentive Allocation or Class G Units) that have not been outstanding for at least 18 months will be subject to an early redemption deduction equal to 5% of NAV on Units being redeemed, calculated at the Redemption Date (the “Early Redemption Deduction”). A redemption request for Class G Units may not be submitted if the Redemption Date would be earlier than 24 months after the date that such Class G Units were issued.