EFTA01383160.pdf

GLOUS238 SOUTHERN FINANCIAL LLC SOF IV - Master Fund Key Terms Same key terms as SOF III with an increased team commitment The Fund Glendower Capital Secondary Opportunities Fund IV, LP Target Size USS1.75 billion (US$2.5 billion hard cap) Structure English private fund limited partnership Investment Period 4 years from final closing 7 years from final closing plus up to 5 one-year extensions (the first three one-year extensions being at the discretion of Term Glendower and the final two one-year extensions requiring the consent of the SOF IV advisory committee) Minimum Commitment USS5 million Team Commitment Min of 1% of aggregate commitments 1.25% p.a. of commitments during Investment Period General Partner Share 1.00% p.a. of Invested Capital' for a period of 2 years after the Investment Period, thereafter greater of 90% of previous year and 0.25% Carried Interest 12.5% on a whole fund basis Hurdle Rate 8% (with 100% catch-up) Clawback Yes weave read the confident-A private plawnent memorandum of the Fin) 4Ite -Meitiorarylurs") or the full crawl:wee of risk factors. conflicts of imerest. conwk•ste term's, aril regulatory and fay considerations of the Fund. For hither dlailasure of tees, such as lees and tN.%enses paid by the Fund. please refer to the Memorandum, the amended awl restated limited partnership agreement and the deed of adherence el the Fund A dostsnents are in the process of berna prepared and will be made evadable to prospectrw investors upon recrdest. 1) Invested Capital is the amount of capital invested in investments and the remaining unfunded obligations reasonably reserved by Glendower for such investments. Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0082819 CONFIDENTIAL SDNY_GM_00229003 EFTA01383160