Direct investments can provide suitable investors with an opportunity to reduce expose to the public markets; eliminate management fees charged by investment firms (although this does not guarantee higher returns); realize greater control over investment selection than investing through a third party manager; have greater transparency over investments comprising the investment portfolio; customize risk exposure, time entry and exit points for investments; and, select investments that more align with their values, such as environmental, social and governance (ESG) factors and socially responsible investments (SRI). Direct investment opportunities are typically limited to accredited investors or qualified purchasers and are not suitable for all investors. Investments in private placements are speculative, illiquid, and an investor has the potential to lose the entire investment.