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Adelante's global strategy is designed for those investors who likewise recognize the diversification benefits of real estate in their overall investment portfolio however they desire exposure beyond just the U.S. commercial real estate market, but across the globe as well. Adelante's global strategy focuses on three main geographic regions including: North America, Asia-Pacific and Europe. Adelante has internal expertise in terms of the North America and Europe regions, however we elected to partner with a firm in the Asia-Pacific region to ensure we had adequate coverage of those companies. Our partner is Sydney, Australia based Resolution Capital Limited (http://www.resolutioncapital.com.au), a leading manager of global real estate listed securities. Resolution AUM is registered with the U.S. Securities Exchange Commission and has approximately A$1.5 billion in assets under management. Investors can access our global strategy through separate accounts and a commingled limited partnership - Adelante Global Property Securities Fund LP. The objective of the strategy is to achieve long-term capital growth and stable income return by investing in a globally diversified portfolio of property companies which are undervalued relative to the underlying real estate value. |

