Responsible Investment

Mr. Balit joined 57 Stars in 2007. At 57 Stars, Mr. Balit participates in the analysis, selection, and monitoring of fund investments and co‐investments across the firm’s target markets. His fund investment experience is principally focused on growth, control, and special situations strategies, while co‐investments he has overseen span financial and consumer services sectors.

Prior to joining 57 Stars, Mr. Balit gained operating experience with a Canadian apparel manufacturing company and was involved in leading the shift of the company’s production platform to Asia. Mr. Balit holds a BA in Economics from Colby College, and joined 57 Stars from Georgetown University, where he completed an MBA and an MS in Foreign Service. He is fluent in English and French.

Mr. Cowan co‐founded 57 Stars in 2005, and is a member of the firm’s Investment Committee.

Prior to 57 Stars, Mr. Cowan served at Overseas Private Investment Corporation (OPIC) as a Director in the Investment Funds Department, where he was responsible for structuring new funds, designing and implementing the program’s asset allocation plans, selecting managers, and overseeing a large portion of the USD 3.5 billion investment funds program. Mr. Cowan also helped design OPIC’s groundbreaking capital markets insurance product. Prior to his tenure at OPIC, Mr. Cowan was an attorney at Munger, Tolles & Olson in Los Angeles, and at Milbank, Tweed, Hadley & McCloy in New York. He has served as Adjunct Professor of Law at American University’s Washington College of Law, and as an advisor to the governments of Colombia and Canada with respect to developing private equity programs.

Mr. Cowan holds an AB in Political Science and Development Studies (magna cum laude and with honors) from Brown University and a JD from Harvard Law School. In addition to English, he has knowledge of Cantonese, Mandarin, French, and Spanish.

Ms. Leytes is a Director focusing on ESG integration and impact strategy at 57 Stars. She also supports overall investor relations efforts.

Prior to 57 Stars, Ms. Leytes was with Sarona Asset Management, an impact‐focused emerging markets fund manager, where she led investor relations and ESG and impact management efforts. Ms. Leytes also worked for the World Economic Forum as a Project Manager for Impact Investing and Blended Finance Initiatives. She began her career at Metropolitan Real Estate Equity Management, LLC (a Carlyle subsidiary), where she led portfolio analysis and reporting for the company’s funds.

Ms. Leytes holds a BA (magna cum laude) in Computer Science from New York University and an MA in Development Economics from Columbia University’s School of International and Public Affairs. She speaks English, Russian, and Spanish.

Ms. Organick is a Senior Associate at 57 Stars focusing on ESG integration and impact strategy.

Prior to joining 57 Stars, Ms. Organick worked at Cambridge Associates, where she served as an investment analyst with the Sustainable and Impact Investing team. She also assisted in management of the endowment and foundation investment portfolios, allocating assets across private and public markets and focusing on impact criteria such as sustainability and diversity.

Ms. Organick holds a B.A. (magna cum laude) in Economics and French from Occidental College. She speaks English and French.

Mr. Toy joined 57 Stars in 2007, and is the Chief Compliance Officer of the firm and as such is a nonvoting member of the 57 Stars Investment Committee. He oversees all aspects of the firm’s regulatory obligations as a Registered Investment Adviser in the US and as an investment manager in the markets where the firm invests and raises capital. He participates in deal structuring and contract negotiations on investments in Emerging Markets globally, and manages numerous parts of the firm’s operations, from contractual relations with potential and actual investors, lenders, and service providers, to the maintenance of the firm’s infrastructure and presence in locations overseas.

Prior to joining 57 Stars, Mr. Toy served at the Overseas Private Investment Corporation for seven years, where he was General Counsel and at different times Vice President managing the project finance and private equity programs, reorganizing and developing strategic plans for the two operating departments, each with exposure of over USD 3.5 billion in emerging markets. Before and after OPIC, Mr. Toy was a partner at two major international law firms, Kaye Scholer Fierman Hays & Handler, for which he opened Hong Kong and Beijing offices and was resident in Hong Kong for seven years, and Wilmer Cutler & Pickering in Washington. He represented clients investing and starting new businesses or operations throughout Asia and around the world.

Mr. Toy has taught on the subject of foreign direct investment as Adjunct Professor at The George Washington University. He earned a BA (cum laude) from Harvard College and a JD from Harvard Law School. Mr. Toy speaks English and Mandarin and Cantonese Chinese.