• US$2.0B+ transaction represents the largest structured financing transaction ever completed by Dawson
• Enables the continued growth of Thrivent’s middle-market private equity co-investment strategy

MINNEAPOLIS AND TORONTO, OCTOBER 1, 2025 – Thrivent, a Fortune 500 financial services company, and Dawson Partners, a leading global alternative asset manager (“Dawson” or the “Firm”), today announced the closing of an over US$2.0 billion structured financing transaction.

The transaction supports Thrivent’s continued growth of its middle-market private equity co-investment strategy. The transaction, which is the largest structured financing that Dawson has completed to date, involves a diversified portfolio of primarily co-investment private equity fund interests. In addition, Dawson will commit to Thrivent’s co-investment private equity fund, helping position it for long-term success.

Jen Wilson, Vice President of Private Equity at Thrivent: “For Thrivent, private equity has enhanced our ability to deliver competitive solutions to our clients and strengthened and diversified our overall market position for many years. This transaction with Dawson is highly strategic and allows Thrivent to expand its lower-middle and middle-market private equity presence, building on our strong foundation and reinforcing our commitment to delivering long-term client value. We thank the Dawson team for their partnership, solutions orientation, and conviction in the success and growth of our program.”

Yann Robard, Managing Partner at Dawson: “This transaction reflects Dawson’s differentiated positioning in the market, providing bespoke financing solutions at scale to high-quality counterparties. We continue to believe that scale matters in this market. We see scale as an enabler to the successful closing of this transaction, helping to reinforce the growing need for differentiated financing and liquidity solutions. We seek to be a nimble, responsive and reliable partner, with a partnership-first mentality – always looking for the win-win in every transaction.”

Giorgio Riva, Partner at Dawson: “This collaboration with Thrivent highlights our ability to bring innovative structured solutions to our partners with exposure to a high-quality and well-diversified portfolio. We are delighted to be partnering with Thrivent on this transaction as it continues to expand on its leading franchise in the private equity middle-market.”

Goodwin Procter LLP served as legal counsel to Dawson. Piper Sandler Private Capital Advisory Group acted as advisor to Thrivent, and Sidley Austin LLP served as legal counsel to Thrivent.

About Thrivent

Thrivent is a Fortune 500 financial services company that helps build, grow and protect financial well-being through purpose-driven advice, investments, insurance, banking and generosity programs. Thrivent serves more than 2.4 million clients through thousands of financial advisors across the country and has more than $194 billion in assets under management/advisement (as of 12/31/24). Thrivent carries strong financial ratings from independent rating agencies – including AM Best, Moody’s and S&P Global Ratings – which demonstrate the company’s financial strength, stability and ability to pay claims. Ratings don’t apply to investment product performance and more information can be found on each rating agency’s website. For more information about Thrivent, visit Thrivent.com or find us on Facebook, Instagram and LinkedIn.

About Dawson Partners (“Dawson”)

Dawson is a leading global alternative asset manager focused on providing private market liquidity solutions through innovative structures on diversified portfolios of private assets. Founded in 2015, Dawson provides tailored portfolio financing and liquidity solutions to LPs and GPs. Dawson takes a differentiated approach to selecting, curating, structuring, and managing bespoke portfolios to serve the demands of a growing market. The Firm has over US$23 billion of assets under management and has deployed over US$27 billion across more than 280 transactions. Dawson has over 230 employees and offices in Toronto, London, UK and New York City. For more information visit: https//www.dawsonpartners.com.