EFTA01353992.pdf

GIDUS183 Dimension Capital Management Introductiont" Glendower Capital Secondary Opportunities Fund IV, LP ("SOF IV") Glendower Capital is an independent secondary private equity manager owned by its partners - Fully funded and operational since its team spun-off from Deutsche Asset Management on August 1st, 2017 - Glendower continues to advise and manage the legacy SOF Program with US$3 billion of third-party client assets Our mission is to deliver outstanding results for its investors - Strong buyout-like performance with an attractive risk profile, early cash flows and negligible loss ratio - Mature SOF Funds show 1.7x Net Multiple and over 20% Net IRR, overall program shows 1.5x Net Multiple and 23% Net IRR Glendower Capital is launching SOF IV to continue the successful value-investing strategy pursued since 2006 - Disciplined bottom-up underwriting of attractive assets managed by quality managers globally - Across a range of transactions: traditional fund secondaries, GP-led transactions and single asset deals - With focus on value creation through in-depth fundamental analysis as opposed to deal structuring and leverage The Fund is seeking US$1.75 billion in commitments with same key terms as prior fund - In the process of closing US$1.3 billion in a first close in May with ca. 50 investors - Second close before the summer at or above target and final closing in 4Q18 - Active pipeline with two deals for US$200 million closing in May / June and two near term opportunities for additional US$200 million (2) Perfamence tigurea haye been calculated base:3 tine uraudted mfortitarce results of S0F:. S.C.. ac.e. si as te ta:Metube: A ans. areaua. load art:: .e,Itettee the dye, Information" and -Notes to the Investment Performance.' sections of this presentation. The "Notes to Investment Performance section in particular includes. among other things. a desciiption of the terms tared in the tables above and sets forth !floaters. gtudefines and limitations as to the performers:re described above. Net p-erforrname data relleas amourds net of expenses. feel and CEETISti interest. lrweetors should consult with the own kittOWer₹ as to tit envoy:nate tactors to be outtedezed in evesiatiri this inlanstdion Past perfismance is not a prediction of the kfle performance of SOF. SOF D. SOF II a SOF lit but es included to demonstrate the track record of the Glendower SOF Team and there can be no assurance that SOF IV will achieve comparable results or that any target results will be achieved C-iendower Capita Secondary Opportunities Fund IV. t. P. PSOF IV or the "Ftrart is being foymed by Gkindower Conde!. LIP YOlenr ererl. wirer' is authorized and regulated by the United Kingdom Financial torwitzl Authority The Fund is sec kirg USS1 7$ billion in total comnutments with the aim of generating attractive risk adjusted investment returra principally in the form of capital appreciation. through the, acquisition hokling and disposition of a diverse bort*Iro a investments incitAnti buyout' growth capital. ‘Panti.se capital special sass/tons, tumaieund mezzanine. digressed opportunities. realestate real art infrastructure assets from Ilea secondary market The Fund will target globally but priniaril' in the 115 and Europe (0 the acquisition of inteiests in established generalist and specialist private equity fund stiucturos tincludirg funds of funds. fetaei fords and other similar sirtatures1on the secondary market (eatsu:li fund or Imo:aura. a 'Fuld Secondaryi. fin the acquisition of interests in DOIMAXA of private eouty assets on the secondary market in transactions with greater complexity aicluding Spinera Spl'I.OttS. taisend otistiuctizing assotriquidati‘en. and IP tenders teach invevment inteyest a . GP-led Secyaridervi. arid inveginents is an individuar pattolui conipaey alongside private equity fund sponsois teach such investment. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0038584 CONFIDENTIAL SDNY_GM_00184768 EFTA01353992