EFTA01392197.pdf

GLOUSI44 Glenn Warren 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) Perfoiniance boures have been calculated based on tine unaudted mforniarce results of SS.S.C.. aC:F. I. an.. is as o: Sapteri!Ota A any ars.u* Lao ario e,itti‘wa: the :ta"! 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 rnpoitant guidelines and lb.:Satiate. as to the performarsie described above. Net perforrname data relleas amourds net of expenses. feel end CEETISti interest. Imieslors should consult with lilts' own kittOWer₹ as to rite ,actors to be otittsidteed twatiatiri this inlanyzdion Past perfcamance is not a prediction of ire brae performance of 40F. SOP O. SOF a SOF Ill but is 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. L P. fSOF IV or the "Ft it is being foymed by Gkindower Capta€. LIP rCtienr weri. which is authorized and regulated by the United Kingdom Financial Conchs:4 Authority The Fund is sec kiru USS1 75 billion in total commitments with the aim of generating attractive risk adjusted investthant returns principally in the form of capital appreciation. through the, acquisition. hokling and disposition of a averse port*lio of investments incitAno buyout growth Ainti.se capital special sitesdions, tuntdieund mezzanine. distressed opportunities. realestate and indiastructure assets from toe secondary market The Fund will target globally but priniaril' in the (15 and Europe (ij the acquisition of interests in established generalist and specialist private equity fund stiuctures tincludirg funds of funds. feerlei funds and other similar t,iructures1 on the secondary market wy:li fund or gni:aura. a 'Fuld Sesondaryi. the acquisition of interests in DOIMAXA of private eouty assets on the secondary market in transactions with greater poinplexiti eicluding Spin-rfa SpfrOttS. taii-end r‘tistructizing. assetequidatia..4. and LP tendeis invevment interest. a . GP-led Seconder/it. ari d ain inveginents a- an individuai porttolio company alongside private. equity fund sponsois (each such invei:Irnent. a 'Single. Asset Dear). Glendower STRICTLY CONFIDENTIAL Capital CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0097375 CONFIDENTIAL SDNY_GM_00243559 EFTA01392197