SEF Private Issuers Trust is a closed-end investment trust that has been created for the purposes of facilitating the conversion of Strategic Energy Fund from a closed-end investment fund to an open-ended mutual fund.

The objective of the Trust is to liquidate its assets and discharge its liabilities, including the securities of private issuers held by the Trust and assumed indemnification obligations in an orderly, effective and efficient manner. The Manager believes that the liquidation of the securities of private issuers held by the Trust over a period of approximately three years will provide unitholders with greater value than if they are sold immediately.